Death and the Safety Deposit Box
When the Assets of an Estate Include a Safe Deposit Box When the renter of a safe deposit box passes away, how do you gain access to the box? Before we answer that question, warning, even if you have Power of Attorney and have the keys to the box, hold off accessing it after the Read More
Three Reasons Why Giving Your House to Your Children Isn’t the Best Way to Protect It From Medicaid
You may be afraid of losing your home if you have to enter a nursing home and apply for Medicaid. While this fear is well-founded, transferring the home to your children is usually not the best way to protect it. Although you generally do not have to sell your home in order to qualify Read More
What Happens to Debt When you Die?
When someone passes away does their debt die with them? Not necessarily. But first things first, in order to protect the credit of the deceased person from fraud, you will want to notify the following entities of the death: All known creditors of the deceased person. If you do not have that information, it would Read More
Pet Trusts
Wealthy Pets? Yes there are cats and dogs out there with more money than you. This summer it was reported in the New York Post, USA Today and other news outlets that a Bronx widow, Ellen Frey-Wouter, left her cats, Tiger and Troy, $300,000.00 of her $3 million estate. The cats were left in Read More
Guardianship vs Power of Attorney
Guardianship and Powers of Attorney As people age, it is very common for them to have their Estate Planning done by an attorney. Most people make it a priority when aging to make sure they have a Power of Attorney in place. With a Power of Attorney, you trust a family member to manage your Read More
Guardianship Responsibilities
What are your responsibilities as guardian? Generally the duties of being a guardian are to oversee the welfare and safety of the person under guardianship, and to attend to the financial needs of the individual, using their assets wisely. A guardian has a legal duty, called a “fiduciary duty”, to act in the best interests of the Read More
Qualified Income Trusts and Medicaid
What does a Qualified Income Trust do? Applying for Medicaid can be tricky and is best done by a professional. The average monthly cost for a skilled nursing facility is $8944.00 per month in Florida. Many people are applying for governmental benefits to assist with the cost. Medicaid can be the solution. If you’re Read More
Preserving the Family Legacy
Save the Legacy The Doctor says that it’s that time, the time when the tables have turned and instead of mom and dad taking care of you, they need you to take care of them. Talk about stress. You want to do the right thing but, how? You have a life and children of your Read More
Florida Medicaid Waiver Program
What is the Florida Medicaid Waiver Program? Medicaid is an entitlement program, run by the state and funded by the federal government. Now, in order to qualify for Medicaid, there are two components. We’re talking specifically about long term care. To qualify for Medicaid there is a financial component and there are guidelines, income requirements, Read More
Thoughts on Hurricane Irma
My Aunt Irma has now outstayed her welcome, as with any guest of her stature we of course spent days preparing for her arrival. We gathered all the family and spent quality time telling all the old stories of drinking from wells and walking in the rain to go the outhouse saying those were the Read More