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Do I Need a Living Will, Health Care Proxy and Power of Attorney?
I think everybody over the age of 18 needs to have a durable power of attorney, in case something happens, somebody can handle your financial affairs for you. A healthcare surrogate, and a living will in case something medically happens to you, you've already made a...
Do we Need to go Through Probate if there is a Valid and Non Contested Will?
Yes, having a will means you're going to go through probate, a will is the car you drive through the town called probate, that's its purpose. For more answers to commonly asked questions, head to our YouTube Channel. Contact our firm with any questions you may have.
For a Person on Medicaid, What is the Personal Needs Allowance?
When an individual's on medicaid here in the state of Florida, all of your income goes as a copay to the facility, except for a couple things. The first would be the premium payment for your medicare supplement or the premium payment for prescription drug coverage....
How Do I Fund a Trust?
Funding the trust is actually probably the most important part of the process. If the trust is not funded, if the assets are not titled to the name of the trust, it's not worth the paper it's printed on. So, the way to fund the trust is you have to re-title assets in...
How Vulnerable is a Home to a Lawsuit?
Here in Florida, we have something called homestead. If your house, if that house is your homestead, it is protected from creditors and judgments. So, if somebody wins a lawsuit against you, they will not be able to take your house. The only people who potentially can...
Can Medicaid Take our House for Reimbursement?
If the Medicaid planning process is done properly, no they will not be able to take your Homestead property. Homestead here in Florida is exempt from creditor's claims and from the Medicaid estate recovery department when you pass. Check out of YouTube Channel for...
If a Person Lives Out of The Area, Can They Still be Named an Executor of a Will?
Yes. When you're creating your will and you're naming your personal representative (executor), if they are related to you, they can live anywhere. If they're not related to you, they have to be a resident of the state of Florida. Don't wait to learn more commonly...
If I Become Incapacitated, Will I Need a DPOA If I Have a Living Trust?
If a person's incapacitated and has a revocable trust, you still want to make sure you have that durable power of attorney. So the answer to that question is yes, the trust document only controls what assets are titled or funded inside of that. The power of attorney's...
If I Name Beneficiaries for my Bank Accounts, Do I Have to Include Them in my Will?
Do you have to? No. Is it a good idea to? Yes, most definitely. What happens if the funds in that bank account were exhausted, they were spent? Well now, somebody you had intended to leave money to is not going to get it, so it's better practice to name the people in...
Do I Need to Give Away My Assets for my Spouse to Enter a Nursing Home?
No, not at all. Here in the state of Florida a husband and wife are not responsible for the medical bills of the other so you'll be able to keep all your assets, your spouse will be able to eligible for Medicaid even if your assets go above what the resource limit is...