Florida Medicaid Planning: Can’t I Just Give My Assets Away and Qualify for Medicaid Benefits?

As you become older, you may incur significant medical expenses, even when you are covered by Medicare. Medicare, the insurance designed to cover all elderly Americans, provides some coverage but requires you to pay a percentage of expenses and may not offer full payment for things like assisted living or nursing home care. Fact is it pays very … [Read more...]

What Are The Alternatives for Managing Property When a Person Becomes Incapacitated?

When a person becomes incapacitated due to illness or injury, their property and assets must still be managed in an appropriate manner.  Ideally, it is best for the individual property owner to plan ahead for this possibility, as there are several different options that can be elected in determining who will be responsible for managing their … [Read more...]

Is There a Need for Guardianship?

When a health event occurs or someone becomes ill, that individual could become incapacitated and unable to manage his or her own property or issues facing his or her health or personal matters. In this unfortunate situation a trusted family member or friend or possibly a professional would need to take control of the individual’s property and … [Read more...]

Avoid Blowing Up a Veteran’s Benefits

Check out this article from WealthManagement.com.  It talks about how selling trusts and life insurance to war veterans can be tricky.  Dealing with both Medicaid and VA rules can be very complicated.  One misstep could disqualify a veteran from important benefits.  Click on the following link to read the … [Read more...]

Estate Plan for Second Marriages

The elder population is experiencing more and more second and third marriages. Second and third marriages almost mandate a revisit to an estate planning attorney or an elder law attorney for advice. Is a pre-nuptial or post-nuptial agreement needed? Almost certainly yes. If the second or third marriage is late in life or if the potential … [Read more...]

Why the Need for Effective Estate Planning

An estate plan is not just for the wealthy. Everyone should have an effective plan. Effective estate planning must consider many things and the plan must "dovetail" together. What happens at death; burial or cremation, disposition of assets, who will be the personal representative? Is a trust needed? Tax issues should also be considered. What … [Read more...]

Will You Be Able to Stay at Home When the Need for Long Term Care Arrives?

Most folks prefer to stay in their own homes rather than residency in an assisted living facility or a skilled care nursing home. Simply, people consider in-home care generally preferable to institutional care. However in home care is very expensive and is typically more expensive than institutional care unless family members are relied upon to … [Read more...]

Is Long-Term Care Insurance For You?

Obviously the younger you are when you purchase long term care insurance, the lower the premiums will be. Is that savings worth the cost over this long haul if you are in you 40’s or 50’s? Do you want to purchase insurance that you are unlikely to need for 30 to 40 years? The long-term caremarket place and long term care insurance industry have … [Read more...]

What is a Living Will?

Living wills are relatively new creature in our law. The need for Living Wills arose as a result of advances in the medical field, primarily the discovery and development of mechanical ventilation around the 1950's. As technology, advanced, patients could be maintained longer and longer artificially. It was inevitable that some people would want to … [Read more...]

Paying for Assisted Living and Nursing Home Costs

Long term care costs including assisted living facilities have a wide range of costs depending on the level of care required. Assisted living facilities that provide an extended care unit can range from $2,000 to $5,000 per month. Nursing homes can cost as much as $7,500 per month. Each facility may offer many levels of care, with different monthly … [Read more...]