Estate planning includes the creation of wills and trusts, elder law and Medicaid planning including the avoidance of the Medicaid Estate Recovery Program.
Trusts are valuable tools in estate planning that allow individuals to manage their assets, provide for their loved ones, and potentially reduce the burden of estate taxes. Two common types of trusts are revocable trusts and irrevocable trusts. It is important for asset owners to understand the differences between revocable vs. irrevocable trusts and how…
Medicaid for seniors serves as a crucial medical and long-term care insurance program for residents of Florida with limited assets and income. In this FAQ guide, we’ll delve into the specifics of Medicaid eligibility for seniors in the State of Florida, covering various aspects from house ownership to income thresholds. 1. Which seniors are eligible…
Estate planning attorneys frequently handle probate cases. While many people have heard of it, few know what it actually entails — until they have to go through it following the death of a loved on. Families and individuals who are planning ahead would do well to know what probate is, what to expect when an…
Trusts are legal entities created to hold assets for the benefit of one or more beneficiaries. They are often used in estate planning to manage and protect assets, minimize taxes, and provide for loved ones. Two main types of trusts are revocable and irrevocable trusts. Revocable Trust Characteristics A revocable trust, also known as a…
People either take care of the elderly in their families or outsource the care to third parties. Either way, the costs associated with this care can be paid out of pocket, by long-term care insurance, Medicare or Florida Medicaid. Which source of payment a family uses depends on whether there is a long-term care policy…
Many Florida Medicaid recipients are faced with the complexities of selling a house while on Medicaid benefits. Often, a Medicaid recipient may need to sell a house because they do not have the money to pay for its upkeep, property taxes or other real estate-related costs. However, remaining financially eligible for Medicaid after receiving the…
Medicaid in Florida provides manifold benefits to those who are eligible. In many cases, such as with long-term care, it can be difficult to become eligible for Medicaid benefits if you have assets or income over a certain limit. Because these limits are low, many are not eligible. However, working with an elder law attorney…
Medicaid is a joint federal and state program that provides free or low-cost health coverage to millions of Americans, including some low-income people, families and children, pregnant women, the elderly, and people with disabilities. Qualifying for Medicaid in Florida can be a challenge for some. For elderly applicants who qualify for Medicare, typically people aged 65…
Medicaid is a robust state-sponsored insurance program that can pay for long-term care in nursing facilities, at-home care and certain medical expenses. Medicaid is generally intended for applicants with low or no income and assets. In Florida, Medicaid applicants in 2022 are required to make less than $2,523.00 in gross income, with some deductions considered,…
The laws related to real estate ownership in Florida can be complex. These complexities become even more pronounced when joint property ownership is a factor. When properties are owned by more than one title holder, it is not uncommon that legal matters arise that require the involvement of an experienced real estate and estate planning…
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