Call Us For A Complimentary Consultation

Hablamos Español

Facebook

Twitter

Linkedin

Youtube

 

Blog

Questions About Medicaid Planning? Check Out Our Medicaid Planning Reading List

Questions About Medicaid Planning Check Out Our Medicaid Planning Reading List

When someone you love can no longer care for themselves, a nursing home or assisted living facility may be the best option. Unfortunately, the high costs of long-term care can quickly wipe out your entire life savings. This leaves families in South Florida facing difficult financial decisions.  If you find yourself in this situation or anticipate the need for long-term care in the future, you may have more options than you realized. The experienced Elder Care and Medicaid Planning Lawyers of The Siegel Law Group, P.A. may be able to help you qualify for Medicaid benefits. As an experienced South Florida...

Continue reading

Should I Use My IRA to Provide for My Special Needs Child?

Should I Use My IRA to Provide for My Special Needs Child

Parents of a special needs child have different long-term planning concerns. For parents of children with disabilities, a primary concern is ensuring they are provided for now and in the years to come. Naming your child as the beneficiary of your IRA is one option in providing for their future financial needs. However, while this can offer certain advantages, such as the ability to spread out payments, there are also serious disadvantages. Our South Florida Estate Planning Attorneys explain the pros and cons and why, if you have a child with a disability, a Special Needs Trust offers greater protection.  Using...

Continue reading

May Is Elder Law Month: 7 Benefits of Hiring an Elder Law Attorney

May Is Elder Law Month: 7 Benefits of Hiring an Elder Law Attorney

In 1963, the National Council of Senior Citizens met with John F. Kennedy to advocate for elderly needs, which led to the designation of Senior Citizens Month. The National Academy of Elder Law Attorneys has since embraced this proclamation and declared May as National Elder Law Month. Elder Law Attorneys serve senior clients and assist and advise family members who care for their elderly parents or relatives. Unlike other lawyers who specialize in one field of law, Elder Law Attorneys often handle several aspects of Estate Planning including Guardianships or Conservatorship, Medicaid Benefits, Probate and Estate Planning, Health and Long-Term Care...

Continue reading

Guardianship Versus a Durable Power of Attorney

If you're considering whether you want to set up a guardianship or a durable power of attorney, it's vitally important that you understand the difference between the two options. In short, a durable power of attorney allows someone else to handle affairs for you through a delegation of rights. A guardianship prevents people from making decisions that are going to be against their best interests, by giving someone else control over their options and what they're allowed to do. An estate plan with a durable power of attorney would be more favorable when a person becomes incapacitated, as opposed to a...

Continue reading

April 16th is National Health Care Decision Day 2022

April 16th is National Health Care Decision Day 2022

April is National Healthcare Decisions Month, and April 16 is National Health Care Decision Day 2022. NHDD was founded in 2008 by a healthcare lawyer as an initiative to encourage friends, families and loved ones to talk about what their medical preferences are if they become incapacitated or seriously ill.  It highlights the importance of writing a Living Will and choosing someone as your Durable Power of Attorney for medical decisions. This year, on April 16, recognize National Health Care Decision Day 2022 by making sure your healthcare wishes are legally documented and that your family is aware of your choices.  Why National...

Continue reading

What Does Payable On Death (POD) Mean?

beneficiary: What Does Payable On Death (POD) Mean?

You may have heard the terms Payable on Death (POD) and Transfer on Death (TOD), but do you understand their importance? When should each be used? Do you need a POD? An experienced Estate Planning Attorney can answer these and many other questions. What is a Payable On Death? A Payable On Death (POD) is a legal document that is utilized to transfer money in your bank accounts, money market accounts, and certificate of deposits to a beneficiary upon your death. Having a POD in place bypasses the probate courts by moving the money into the desired person’s account instead of waiting...

Continue reading

How to Protect Assets From Medicaid Recovery

What Does a Florida Medicaid Attorney Do?

Avoiding Medicaid estate recovery of your home should be an important priority of a well-crafted Estate Plan. By using sophisticated estate-planning tools, an experienced Elder Care and Estate Planning lawyer can help protect your house, prevent Medicaid from forcing its sale, and enable your heirs to enjoy it. That's why below you're going to learn about 3 techniques that can help protect your assets from Medicaid recovery. What is Medicaid Recovery? Medicaid may be able to force your heirs to sell your house to reimburse the state for your the benefits you received because when the state pays for care, including nursing...

Continue reading

What is a Transfer On Death (TOD)?

What is a Transfer On Death (TOD) Deed?

When working through your Estate Plan, there are many options. Should you use a Will or Trust? Who are your beneficiaries? Should your assets be established as Transfer on Death or POD? Working with an experienced Florida Estate Planning Attorney will help ease the confusion and establish a customized Estate Plan. What Is A Transfer On Death? A Transfer on Death is an instrument or deed that is used mainly with stocks, bonds, a brokerage company and retirement accounts such as a 401(k) and an IRA. Transfer On Death (TOD) deeds are named beneficiaries that receive assets after the death of the...

Continue reading

Using a Pooled Trust for Medicaid Planning

If you’re disabled and trying to qualify for Medicaid, one option that can help you is a pooled trust. A special needs trust is often used to help a person get under the $2,000 countable asset limit, which can make the difference in whether they qualify for Medicaid services or not. There are options for moving assets into a trust for both personal and certain types of medical needs, most typically for people who are under age 65 and become disabled. For beneficiaries over 65 a transfer penalty may apply. But the best news about a pooled trust is that it...

Continue reading

How To Protect Your Life Partner In A Florida Estate Plan

How To Protect Your Life Partner In Your Florida Estate Plan

It is becoming more common for couples to live together without getting married and without any legal agreements in place. There are many reasons why people bypass marriage and simply live together, and finances are often at the top of the list. Perhaps one person has debt the other does not want to incur, maybe the couple is older and does not want to lose their tax benefits, family members may object to the marriage and other reasons. Whatever the reason, you can still protect your life partner financially when you pass or if you become ill, and prevent expensive...

Continue reading