Limited liability companies are trusts that protect assets and ensure that an estate ends up in the hands of the intended beneficiaries. Both are valuable options, but each has unique advantages that work in different situations. According to SmartAsset Advisors, an...
Year: 2022
3 tips for talking to your parents about Medicaid
As your parents age, you may need to have discussions about critical matters like health care. For many older people in Florida, affordability is a major concern when considering health insurance options. Medicaid can ensure that your parents receive the care they...
3 steps to take after you write your living will
You have just finished creating a living will, taking the first step to making sure that you receive only the care you want in the event that you become incapacitated. Now that you have completed your living will, what do you do now? U.S. News and World Report...
Homebuyers and estate planning
Though the seller's market has died down recently due to inflation and the economic turmoil currently faced by many, a number of people are still setting out to make their first home purchases. Thus, it is crucial for this new wave of home-owners to know how to keep...
How are Medicare and Medicaid different?
When looking at your healthcare options as you age, it is important to understand the different government programs that may assist you. Two of the most important healthcare-related programs in the US are Medicaid and Medicare. While Medicare and Medicaid have some...
What are an estate executor’s responsibilities toward the IRS?
One of the primary responsibilities of an estate executor, or personal representative, is paying off the deceased's debts and final expenses. In addition to discharging creditor debts, hospital and funeral bills and costs related to administering the estate, the...
What does a power of attorney do?
Getting a plan in place for your continued care should take priority as you age. Since your children are now adults, you no longer have to focus on them and should instead turn your attention to yourself. An estate plan should include a few documents that address your...
Who may need a Medicaid spend-down and how could it help seniors?
Florida residents planning to apply for Medicaid may consider an income or asset spend-down to qualify. As reported by U.S. News, the Medicaid program helps low-income seniors with medical expenses including long-term care. You may determine your eligibility to...
What is elder law?
As its name implies, elder law is the branch of law that deals with any of the issues you face as an older adult. FindLaw explains that, for instance, elder law includes such things as the following: Estate planning Health care planning Elder abuse and injury Elder...
Who gets your assets if you die in Florida without a will?
If an accident or other catastrophe claims your life before you write your last will and testament, Florida’s intestacy laws will, in effect, write your will for you. As the Florida Bar points out, this means that your closest relatives will receive statutorily...