Estate planning includes the creation of wills and trusts, elder law and Medicaid planning including the avoidance of the Medicaid Estate Recovery Program.
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…
Knowledge and Experience South Florida Law is a firm with attorneys who are licensed to practice law in the State of Florida and who have extensive knowledge and experience in dealing with matters related to estate planning, elder law and business succession planning. Small Firm Attention to Detail We began as a boutique and still…
For families with a high net worth, inheritance and estate planning can be complex. Fortunately, with the assistance of a knowledgeable estate planning attorney, there are a number of ways for these families to provide a financial legacy for descendants in a tax-advantageous way. One such estate planning tool is a generation-skipping trust (GST). When…
For Medicaid eligibility, there are a set number of activities that the program takes into consideration when determining whether to approve an applicants request for coverage. These are in addition to Medicaid means testing in which the program reviews assets and income to determine Medicaid eligibility. Activities of Daily Living (ADLs) for Medicaid Eligibility …
Medicaid Planning – Florida Medicaid is the state and federal partnership that provides health coverage for selected categories of people, including the elderly, in Florida. Because having low income and virtually no assets is an eligibility requirement, one of the most complex areas of estate planning involves preparing someone with significant income and assets for…
Long-term care for seniors delivered in a nursing home setting can be prohibitively expensive for most people. Still, some 70% of those over 65 are expected to need long-term care with 20% of seniors likely to require it for five or more years. Medicaid provides financial assistance to those requiring long-term care and qualified income…
By most people’s standards, a nursing home can be very expensive. It is not unusual to pay anywhere between $5,000 and $10,000 a month to a facility for an individual (or double that cost for a couple). Medicaid means testing ensures that the people who have the greatest financial need for coverage receive Medicaid benefits….
Many estates include assets with beneficiaries already designated to them. These include life insurance policies, investments accounts like IRAs and 401Ks and bank accounts. Language naming beneficiaries in the contracts which govern these assets may supersede the language in a will. In estate planning, it is important to understand the types of beneficiaries and how…
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