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Your Adult Children Need Planning Too!

With the Coronavirus affecting everyone’s lives and most schools and colleges closed, many of you may have adult children at home for the remainder of the school year.  This is an important time to address an often overlooked issue in family incapacity planning. As most of you know, in most states a child reaches adulthood [...]

By |2020-04-01T16:47:42+00:00April 1st, 2020|

Estate Planning In The Time Of Coronavirus

Although we hope none of you reading this or any of your family members come down with COVID-19, I wanted to mention why having certain estate planning documents in place now can be so important. While wills and trusts, which typically deal with handling a person’s estate when they die, are certainly important, the most immediate [...]

By |2020-03-25T15:27:15+00:00March 25th, 2020|

VA Pension Rule Changes 2018

On September 18, the Veterans Administration (VA) published new rules that make it more difficult to qualify for this important benefit. For example, any gifts that you made in the past 36 months, either to a family member or to an irrevocable trust, would be penalized. Likewise, an investment in an annuity would also be [...]

By |2020-03-10T20:23:16+00:00March 10th, 2020|

Revocation-On-Divorce Law Upheld By Supreme Court

The Supreme Court of the United States recently held in Sveen v. Melin that the retroactive application of a revocation-upon-divorce statute to a contract signed before the statute’s enactment does not violate the Contracts Clause of the United States Constitution. The background of the case involved Mark Sveen designating his spouse, Kaye Melin, as primary [...]

By |2018-10-04T20:23:39+00:00August 24th, 2018|

Estate Planning Under The 2017 Tax Act

The 2017 Tax Act, which was signed into law in December, made dramatic changes in the estate and gift tax exemption amounts. This post focuses specifically on what is does to the estate and gift taxes and what that means for you. Highlights of the Act’s Estate and Gift Tax Changes:   Increased Exemptions with [...]

By |2018-08-24T13:47:01+00:00August 20th, 2018|

SSI Related Medicaid Programs With Full Benefits

Institutional Care Program (ICP) The institutional Care Program (ICP) helps people in nursing facilities pay for the cost of their care and other medical services. The person is determined to be in need of nursing facility services and appropriate placement as determined by the Department of Elder Affairs (DOEA), Comprehensive Assessment and Review for Long-Term [...]

By |2018-08-24T13:35:36+00:00August 17th, 2018|

What Is A Personal Representative?

The personal representative is the person, bank or trust company appointed by the judge to be in charge of the administration of the decedent’s probate estate. In Florida, the term “personal representative” is used instead of such terms as “executor, administrator and administratrix.” The personal representative has a legal duty to administer the probate estate [...]

By |2018-08-24T13:37:30+00:00August 7th, 2018|

Relationship Of Power Of Attorney To Other Legal Instruments

What is the difference between an agent and an executor or personal representative?   An executor, termed a “personal representative” in Florida, is the person who takes care of another’s probate estate after that person dies. An agent may take care of the principal’s affairs only while the principal is alive. A personal representative may [...]

By |2018-08-24T13:38:33+00:00July 25th, 2018|

Uncovered Medical Expense Deduction For FL Medicaid

What is an Uncovered Medical Expense Deduction (UMED)? An uncovered medical expense deduction (UMED) is a credit received for out-of-pocket medical expenses. The deduction reduces the amount the nursing facility or Medicaid services provider is paid each month and enables individuals to keep more money to pay for uncovered medical expenses. Who can receive the [...]

By |2018-08-24T13:36:45+00:00July 24th, 2018|

What Is Medicaid?

Medicaid provides medical coverage to low-income individuals and families. The state and federal government share the cost of the Medicaid program. Medicaid services in Florida are administered by the Agency for Health Care Administration. Medicaid eligibility in Florida is determined either by the Department of Children and Families (DCF) or the Social Security Administration (for [...]

By |2018-08-24T13:34:03+00:00July 13th, 2018|