Category Archives: Elder Law
Will Your Estate Owe Money to Medicaid?
Receiving financial assistance for long-term care in a nursing home from the state and federal governments is the only way many seniors can afford to stay at these facilities. The cost of nursing home care rises on an annual basis at a pace that far outstrips the ability of most people to pay for… Read More »
Choosing How to Pass on Your Financial Accounts
In today’s world, it is not uncommon for an individual to own a number of different financial accounts – all with varying rules on when a secondary person may be added or how to pass on the funds contained within it after death. Quick access to cash for the numerous expenses associated with death… Read More »
Identifying and Taking Steps to Prevent Elder Financial Exploitation
Growing older brings many life adjustments, some easier to accept than others, but one priority that remains for most seniors in this country is the ability to manage and control their finances. Losing the power to determine when and how one’s money will be spent is a significant blow to a person’s independence, and… Read More »
Florida Lags in Providing Level of Services Seniors Need
Estate planning and long-term medical care are usually the farthest thoughts from people’s minds as they enjoy the holidays. But this time of year offers an opportunity, that is frequently unavailable the rest of the year, to observe and assess the health and potential future needs of older family members. Health issues of aging… Read More »
Estate Planning Considerations for Florida “Snowbirds”
Escaping cold winters to relocate to the milder climate of Florida is a goal of many older Americans living in northern half of the country. Splitting significant periods of time between two residences, particularly if property is owned in both, can have important implications on a person’s estate plan. A number of states in… Read More »
How Trusts Can Serve a Number of Asset Protection Goals
No one wants to see their hard-earned money and property used to pay off creditor claims, a risk both personally and for potential heirs. Asset protection measures can mitigate this risk. While transferring assets for the express purpose of thwarting a pending creditor’s claim may be ineffective, it is possible to use asset planning… Read More »
Helping Yourself and Your Adult Child Caretakers
It may be uncomfortable to contemplate, but some parents may find themselves in need of the type of care they once provided to their own children. While this role reversal may be uncomfortable, it does offer the benefit of being able to stay in one’s home, as well as avoiding the cost of assisted… Read More »
Executing an Estate Plan Is Not the End
The older one gets, the more one is bombarded with messages about the need to create an estate plan. While not the lightest topic, it is often directly tied to a family’s long-term financial and emotional health. Failure to create an estate plan can lead to the distribution of assets to unintended and/or undesired… Read More »
Factoring Pets into Your Estate Plan
Animals are known for having a therapeutic effect on and providing comfort to their human caretakers, and seniors especially find satisfaction in having a pet near. As one grows older and more distance is put between loved ones and friends, pets often fill in some of that empty space. Generally, pets do not outlive… Read More »
Creditors, Death, and Protecting Your Child’s Inheritance
Few people move through this world completely free from debt, and debt does not automatically disappear when someone dies. Trying to preserve as many assets from creditors as possible is everyone’s goal, and this desire typically extends to even to a beneficiary child’s creditors, who may try to reach their inheritance in the event… Read More »