Tips - Elder & Estate Planning Attorneys

Learning the Difference Between Assisted Living and Skilled Nursing for Your Loved One

Are you wondering where your loved one may spend their later years? Have you noticed both cognitive and physical challenges beginning to emerge? Then finding a place that can meet your loved one’s long-term care needs, as well as being able to afford it, can be a challenge. Be aware that two of the most common options for senior living when a person needs care are nursing homes and assisted living facilities.

Therefore, learning the difference between assisted living and skilled nursing for your loved one can help ensure that your loved one will receive the right care while also safeguarding a lifetime of savings. Now be mindful that this is where the expertise of a Florida elder law attorney becomes invaluable. Your experienced Florida elder law attorney can not only help you find the care facility you need for your loved one but also be sure that there are ways to afford it without fully impoverishing your family. We want to give you more important information right here in our blog.

Let’s start with ALFs, Assisted Living Facilities. ALFs are designed for individuals who need some assistance with daily activities but wish to live as independently as possible. ALFs offer a combination of housing, personalized supportive services, and health care designed to meet the needs of people who need help with the activities of daily living. Typically services include:

Meals and housekeeping
Assistance with personal care
Medication management
Social and recreational activities

Usually residents live in their own apartments or rooms and share common areas. The environment is often less medically oriented than a nursing home and focuses more on providing a community feel.

However, in contrast, a nursing home, also known as a skilled nursing facility, is designed for individuals who require 24-hour supervision and medical assistance. Most often residents share rooms and are served meals in a central dining area unless they are too ill to participate. Nursing homes provide a wide range of health and personal care services, including:

Full-time nursing care
Physical, speech, and occupational therapy
Care for chronic conditions or for short-term convalescent or rehabilitative care

The care is generally more intensive and medical in nature than that provided in an assisted living facility.

So what are the primary differences between these two types of facilities which may also include a combination of the following factors:

Care level. While nursing homes provide medical and personal care in a clinical setting, assisted living offers personal care in a more home-like, community setting.
Independence level. Residents in assisted living can maintain a more independent lifestyle, while nursing homes are better suited for those who require constant medical attention.
Expense level. Generally, nursing homes are more expensive due to the higher level of care and medical attention provided.

We know that navigating the complex landscape of elder care options can be challenging. A Florida elder law attorney can provide invaluable guidance in understanding the various care options and the associated legal and financial implications. They can assist with:

Long-term care planning, including the selection of the right facility
Preserving your assets while ensuring quality care
Understanding and organizing the necessary legal documents
Medicaid planning and applications

You will be able to find the care your loved one needs while protecting their lifetime of savings when you work with a Florida elder law attorney. They can take a crucial role in being sure that the later years of your loved one are spent with the best possible care and peace of mind

Finally, the decision between a nursing home and an assisted living facility will depend on the needs and preferences of your loved one. Understanding the differences between these options is crucial in making an informed choice that is in keeping with your loved one’s care needs and financial situation. A Florida elder law attorney can be your ally in navigating these choices, ensuring that your loved one makes the best decision for their unique circumstances. With the right help and information, your loved one can find a supportive and comfortable environment for their golden years.

We know this article raises more questions than it answers. We know this article raises more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Ways You Can Help an Elder Cope with Loss and Ensure They Are Protected

When helping an elder cope with loss, especially around emotionally charged times such as Valentine’s Day, it is crucial to approach with sensitivity, understanding, and practical support. The period around Valentine’s Day can magnify feelings of loneliness and grief for elders who have lost a spouse or loved ones, making it a particularly poignant time to offer support and compassion.

We know you may have questions about how to help a loved one dealing with these challenges, especially around special holidays. Let us share several ways you can both help an elder cope with loss and protect them well into the future.

Acknowledge the grief. It is important to recognize the pain and the increased sense of loss that Valentine’s Day might bring. Encourage them to share memories and express their feelings. A listening ear and understanding are invaluable during these times.
Create new traditions. While Valentine’s Day can bring up memories of past loved ones, it can also be an opportunity to create new traditions. This might involve celebrating friendships, attending community events, or volunteering, which can help bring a sense of purpose and connection.
Engage professional support. Sometimes, coping with loss requires professional help. Encourage them to seek support groups or counseling, especially around challenging times like Valentine’s Day. It is important they know that there is no shame in seeking help.
Stay connected. Isolation can worsen feelings of grief and loneliness. Regular visits, phone calls, or even teaching them to use technology to connect with family and friends can make a significant difference.
Encourage physical activity. Gentle physical activities like walking can help improve mood and overall well-being. If possible, join them in these activities to keep them motivated and company.
Mind their health. Ensure they are eating well, taking medications as prescribed, and attending regular check-ups. Grief can often lead to neglecting personal health, so it is important to monitor this closely.
Review their Florida estate planning. It is critical for elders to have their Florida estate planning up to date, reflecting their current wishes. This includes wills, trusts, power of attorney, and health care directives. The loss of a loved one can significantly alter their previous plans or bring to light the need for changes. Ensure they understand the importance of reviewing these documents regularly, especially after major life events like the loss of a spouse.
Educate them about scams. Unfortunately, elders are often targets for scams, particularly those who have recently lost a spouse and might not be as vigilant. Educate them about common scams and remind them never to give out personal information.
Memorialize the loved one. Encourage them to honor the memory of their lost loved one in a way that feels right to them. This could be through a donation to a charity, planting a tree, or any other meaningful gesture.
Encourage them to plan early for long-term care. Lastly, recommend that they consult with a Florida estate planning and elder law firm to ensure their affairs are in order when it comes to long-term care. Especially if they are now single, there may be steps that need to be taken to ensure they will continue to thrive well into the future.

During times of loss, especially around sentimental periods like Valentine’s Day, elders deserve compassion, presence, and practical support. By combining emotional support with the encouragement to keep estate plans, and even elder law plans, updated, you provide a holistic approach to helping them navigate their grief and ensuring their peace of mind.

We know this article raises more questions than it answers. We know this article raises more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

What Do You Need to Potentially Know About The Corporate Transparency Act?

Were you aware that the Corporate Transparency Act (CTA) went into effect on January 1, 2024? This Act represents a major change in the way reporting companies in the United States must disclose their beneficial ownership information. Because we are a Florida estate planning law firm, we know how important it is to both understand the implications of this Act and share this information with our clients, especially in regards to business succession, mergers, acquisitions, and the administration of estates.

To begin, it is crucial to understand that the CTA aims to keep in check illegal activities, for example, money laundering, tax evasion, and financing of terrorism. How will they do this? By intensifying transparency in the ownership of legal entities. It mandates the disclosure of beneficial ownership information to the Financial Crimes Enforcement Network (FinCEN).

The following are key compliance dates to know and understand including, but not limited to, the following:

Existing Entities. For reporting companies in existence as of the effective date, January 1, 2024, the initial reporting deadline is within one year.
New Entities. Companies created or registered after the effective date must file their initial reports within 30 days of their creation or registration.
Notably, FinCEN has proposed extending this initial filing deadline to 90 days for entities established in 2024.

Will there be information to be reported? Yes, right now, we understand that the CTA requires the following information for each beneficial owner and company applicant:

Full legal name.
Date of birth.
Residential street address.
Unique identifying number and issuing jurisdiction from a government-issued identification document (e.g., US driver’s license, US or foreign passport).
An image of the document that shows the unique identifying number.

However, there will be more than just the initial reporting. It is important to note that reports must be updated within 30 days in the following scenarios:

Change in beneficial ownership (e.g., through sale, merger, acquisition).
Death of a beneficial owner.
Discovery of inaccuracies in previously filed information.

As Florida estate planning attorneys, the CTA has multiple implications including:

Considerations related to succession planning. In other words, when a business is part of a Florida estate plan, the change in ownership due to the death of a beneficial owner will necessitate a timely update under the CTA.
For clients involved in mergers or acquisitions, due diligence that ensures compliance with CTA reporting is vital.
The sensitive information required by the CTA may raise privacy concerns, necessitating discussions about data security and privacy measures.

As you can see, the Corporate Transparency Act introduces significant changes in reporting requirements for legal entities. Staying on top of these changes and guiding our Florida estate planning clients through compliance is essential for us at this time and we look forward to answering your questions. Understanding and preparing for the CTA’s implications will be crucial in ensuring that your estate and business planning strategies remain compliant and efficient.

We know this article raises more questions than it answers. We know this article raises more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Ideas and Tips for Helping Florida Elders Find Long-Term Care Resources

Are you seeking ideas and tips for helping Florida elders find long-term care resources? But, are you discovering that researching long-term care for seniors during the holidays is difficult? The holiday season is one that is full of festivities and family gatherings and these can accentuate the need for reliable, compassionate care for elderly family members. The task of locating appropriate care can be critical and complex, because the holiday season can impact the availability of services and caregivers. However, with careful planning and using various resources, families can navigate these challenges effectively.

Our goal is to help you as you research and explore the numerous resources and strategies available and identify suitable long-term care options for the seniors in your family. From understanding different types of care facilities to leveraging community resources and online tools, we will work with you and your family as you find the best possible care solution. We will also discuss the financial aspects of long-term care, providing insights into funding options such as savings, insurance, public programs like Medicaid, and the role of Florida elder law attorneys.

Despite the demands of the holiday season it should not be a barrier to securing quality care for seniors. In fact, with the right information and support, it can be an opportunity when families come together to make thoughtful, informed decisions about the long-term well-being of their elderly loved ones. To begin, the first step is to find the right support that can meet the individual needs of the senior. Consider these alternatives:

Local Aging Agencies. Many communities have local agencies on aging, which can provide a wealth of resources for senior care. These agencies often have lists of vetted long-term care facilities and home care providers.
Online Directories and Websites. Websites like A Place for Mom, Caring.com, and the National Institute on Aging provide directories of long-term care facilities. They also offer resources and articles to help families make informed decisions.
Healthcare Providers. Discussing your needs with a healthcare provider can lead to recommendations for reputable local care facilities or home health agencies. They can also advise on the level of care needed.
Social Workers and Geriatric Care Managers. Professionals in these fields specialize in elder care and can help navigate the complex landscape of long-term care options. They offer personalized assistance and can help tailor care to specific needs.
Support Groups. Connecting with local or online support groups for caregivers can provide personal recommendations and insights based on others’ experiences.
The Role of the Florida Elder Law Attorney. Florida elder law attorneys specialize in legal issues affecting the elderly and can provide valuable advice on planning for long-term care costs. They can help in structuring assets and income to meet eligibility requirements for public assistance programs like Medicaid. While the difficulty may be to find the care you need, the second issue is determining how to pay for it. Financing long-term care requires a multifaceted approach which your attorney will be able to help you navigate.

We know and understand that finding long-term care for a senior during the holidays requires thorough research and careful consideration. By utilizing the resources available and seeking advice from professionals, most importantly from your Florida elder law attorney, you can ease the process and ensure that your loved one receives the best possible care during this special time of the year.

We know this article raises more questions than it answers. We know this article raises more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

What to Do If an Aging Parent is Suddenly in Need of Long-Term Care During the Holidays

The holiday season, traditionally a time of joy, togetherness, and celebration, can take an unexpected turn when faced with the reality that an aging parent requires long-term care. This revelation can cast a shadow over festive spirits, introducing a mix of concern, responsibility, and urgency. For many families, the holidays are already a bustling period, and the added dimension of a parent’s sudden health needs can be overwhelming. It’s a situation that calls for swift, yet thoughtful, action balancing the need for immediate care with the emotional nuances of the season.

Ensuring the safety and well-being of your aging parent becomes the foremost priority, requiring a delicate blend of practical decision-making and empathetic support. We understand the challenges you are facing as you attempt to navigate these complex waters. We understand that amidst the holiday lights and celebrations, you are now tasked with making critical decisions about healthcare, living arrangements, and legal matters, decisions that can affect the entire family dynamic.

The first priority is to make sure your aging parent is safe. This might involve making immediate changes to their living environment to prevent falls or accidents, or arranging for a family member or professional caregiver to stay with them. It’s crucial to ensure that your aging parent feels as supported as possible during this transition. You can help ensure this happens with regular visits, engaging in conversations, and involving them in holiday activities as much as possible which can then provide emotional comfort and reduce feelings of isolation.

The next priority is to locate and review the estate plan of your parent, if one exists and if you have not done so already. Their estate plan will outline their wishes and identify who has been designated to make decisions on their behalf. Understanding these directives is essential for making informed decisions about their care.

As you continue, you will want to evaluate the level of care your parent requires, both currently and in the foreseeable future so you know what you are facing . This might involve consulting with healthcare professionals to understand their medical needs, mobility issues, and any cognitive impairments.

Once you have a clear understanding of the needs of your parent, you will want to consult an experienced elder law attorney. They can guide you in finding appropriate long-term care options and assist in navigating the financial aspects. An elder law attorney can help you explore various care options, such as in-home care, assisted living, or nursing homes, based on the specific needs of your parent. Bear in mind, your parent’s estate planning attorney may also be an elder law attorney. If they are not, they may be able to recommend someone who can help.

The elder law attorney you work with can also advise on financial strategies to cover the costs of care. This may include tapping into savings, exploring insurance options, understanding public programs like Medicaid, and considering any benefits your parent may be entitled to, such as veterans’ benefits.

We know dealing with a sudden need for long-term care for an aging parent during the holidays can be overwhelming. However, by taking methodical steps to ensure their safety, understanding their needs, and seeking professional guidance, you can navigate this challenging time with confidence. Remember, the goal is not just to find care but to find compassionate care that respects the dignity and wishes of your loved one.

As you embark on this journey, remember that you are not alone. Many have navigated this path before, and there are ample resources and supportive communities to guide you. The holiday season, with its emphasis on family and togetherness, can be a meaningful backdrop as you step into this new role in your parent’s life, ensuring their later years are as comfortable and dignified as possible.

We know this article raises more questions than it answers. We know this article raises more questions than it answers. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Can You Afford a Nursing Home If Your Loved One Has Parkinson’s Disease?

Have you and your family recently learned that a loved one has received a diagnosis of Parkinson’s disease? Has your loved one learned that his or her ability to walk, bathe, and dress may become increasingly impaired? In addition, your loved one may face an increased risk of falls. In the future, as the Parkinson’s progresses you, your loved one and your family may be faced with the difficult decision of placing your loved one in a nursing home. With the decision to place a loved one in a nursing home, the question will be how to afford the exorbitant cost of the nursing home.

As you, your loved one and your family determine how to pay for a nursing home, find out if your loved one is in possession of any type of benefits which may cover the cost of a nursing home. For example: a long-term care insurance policy, life insurance policies, which can be cashed out, or veteran’s benefits. If your loved one does have one or more of these benefits be sure to gather copies of all the supporting documents of these policies, which may include copies of insurance policies or proof of veteran’s benefits. Having this conversation now about nursing home coverage with your loved one and family can help guarantee you have the required proof of coverage should your loved one’s mental capacity decline.

An excellent next step may be to meet with a qualified Florida elder law attorney. In addition to determining the existence of benefits, you, your loved one and family can meet with an elder law attorney to find the most reliable ways of determining how to afford a nursing home when the time comes. An elder law attorney, who is experienced in the area of long-term care planning, can assist with the review of any benefits you believe may cover the cost of a nursing home. Be aware that Medicare does not cover the cost of long-term nursing home stays, but state Medicaid does. Because Medicaid eligibility is based upon your loved one’s assets, a qualified elder law attorney may assist in the drafting of planning documents, such as a trust, which may make your loved one Medicaid eligible. Medicaid planning is best conducted early in your loved one’s diagnosis because there are time limits on the transfer of assets which may affect Medicaid eligibility.

We are very aware that a diagnosis of Parkinson’s disease can be very stressful to your loved one and family and we know there may be many other issues to navigate. By working with an estate planning and elder law attorney as soon as diagnosis is made may be the best strategy of helping to assure your loved one will be able to afford a nursing home, when the time comes. We know you and your family will want the peace of mind that your loved one will receive the care he or she deserves as the disease progresses, so that all of you can focus on sharing quality time in the present and in the future.

Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Understanding How to Keep Seniors Safe from Sweetheart Scams Throughout the Year

Are you a senior living in Florida? Are you aware of the tragic fact that Florida seniors are prime targets for cyber criminals? This is because it is perceived that seniors have access to money, are less tech-savvy than younger adults, and suffer higher incidences of loneliness and social isolation. There is a type of scam called the romance scam, or “lonely heart” scam, that is rising among seniors. According to the Federal Trade Commission, romance scams stole more than $304 million from Americans in 2020. Whether you are one of the Florida seniors who are prime targets for cyber criminals or have a loved one who is a Florida senior, let us share a few key tips about how seniors can protect themselves throughout the year.

Cyber criminals meet their victims online and present themselves as interested in genuine love or companionship. Once they have made an emotional connection with the senior he or she is typically lured into buying gifts, sharing personal information that can be exploited by identity thieves, and sending money through credit cards or financial institutions. As a major precaution, a senior should discuss any new online relationship with friends, family, and caregivers and pay attention to any advice they may give.

Keep in mind that it is never a good idea to send money to a romantic interest you have not met in person. It is a major red flag if a new social media or message board love interest asks you to send money, personal information, or data to access your bank account! Do not do it, in fact, no matter how tempting it is, you should break off all communication immediately. This is just one of the ways Florida seniors are prime targets for cyber criminals. Do not offer to accept money either, as it may be another way of gaining access to your financial accounts, or it may be an illegal money laundering trap.

As a Florida senior, you should always be extremely cautious if you spot a nice floral arrangement pop-up ad, get a thoughtful e-card from an odd acquaintance or stranger, or any other online gift. Remember to look for telltale signs of fraud before clicking on any online buttons. There are numerous fake websites and advertising scams out there that look real to the untrained eye, but are in fact fraudulent. In addition, also:

• Be wary of websites and offers that do not accept common payment providers like Visa, Mastercard, and PayPal.
• If you are going to buy something, stick to reputable websites that you already know.
• Avoid online greeting cards from unknown sources as they could be infected with malware.
• Google a curious website or ad’s name + “scam” or “complaint” and see what pops up.

Never forget that Florida seniors are prime targets for cyber criminals and be on guard at all times. If you or someone you know has been the victim of online romance scams, do not wait to contact law enforcement.

Most importantly, make sure you have picked an advocate who has the legal authority to act for you in a crisis that leaves you incapacitated. Under your Florida durable power of attorney your agent will be able to monitor your identity and accounts when you cannot to ensure that you do not fall victim to any scams. We encourage you not to wait to ask us, your Florida elder law attorney, any questions on this or any important issue facing Florida seniors today.

Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Do You Know the Pros and Cons of Planning for Medicaid Early in Florida?

Are you a senior living in Florida and enjoying your golden years? That is good, but are you also considering your future? Have you started planning for any long-term care needs you may have in the future? Right now would be a good time to begin to investigate how you could pay for your care if you were to need it in the future. Let us discuss more about planning for long term care in the Sunshine State.

Are you planning for Medicare coverage as an option for long-term care? Unfortunately, even though you use Medicare for your health insurance, it will not cover much in the way of long-term care, whether in a nursing home or in your own home. Although Medicare is what most senior citizens use for health insurance, it has an extremely limited nursing home benefit, covering only up to 100 days of care and only in some circumstances. It is not a reliable source of coverage if you end up needing real long-term care.

Are you wondering what other options for long-term care are available for seniors? Some seniors may rely on family members to help as they get older. There may be an adult child or another relative who can come to the senior’s home regularly or the senior may be able to move in with them. We are, however, living longer these days, and with different generations living in different parts of the country, in-person consistent help from family might not be something you can rely on. This may be particularly true if your children are raising their own children at the same time you need the most help.

If you have no other options, you might be wondering what to do next. A Florida elder law attorney is an excellent next step. Make an appointment and consult with a Florida elder law attorney who specializes in Medicaid planning to find out whether you qualify for Medicaid or how you can plan to qualify for Medicaid when the need for long-term care arises. Qualification depends on your income and assets at the time of your application for coverage. The sooner you meet with a Medicaid attorney, the better the attorney may be able to help you plan for the future. If you are able to qualify for coverage, Medicaid will cover all nursing home costs you may need in the future.

Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

6 Questions to Ask When You Update Your Estate Plan in the New Year

The New Year is here and the holidays are coming to an end. As the month of January gets underway, we know many Floridians are focusing on how they will reach the resolutions they set. What are your resolutions? Did you focus on work? Or health? Or family?

No matter what you choose, we want to let you know that one of the most important New Year’s Resolutions you can make this year is to create your Florida estate plan. Your estate plan can protect you both during life and at the time of your death. During your life, you can work with your attorney to create a plan that ensures your choices for your health care and finances are honored by your chosen decision maker. Your attorney will also show you how you can ensure that your family will be provided for when you are no longer here with them.

Already have an estate plan? While this is great news, if you already have a plan in place, time is of the essence to ensure it reflects your wishes for yourself and your loved ones. Many changes can happen within your family, your business, and your finances in a year. It is important to make sure your estate plan remains effective in not only encapsulating the desired future for you and your loved ones, but also has the best tools in place to accomplish those goals.

How do you get started? Let us share six questions to ask yourself and your Florida estate planning attorney as you work on your Florida estate plan in the new year.

1. Should I update my plan if my immediate family members have changed? Yes! When there is a birth, death, divorce, or other life update, you should make it a priority to work with your attorney to determine if your estate plan needs any updates or significant changes.

2. Have the laws changed? This is an important question to ask your attorney. She stays up to date with all the latest information that could impact your legal planning and can make recommendations if your current plan needs to be changed.

3. Am I really unprotected if I do not have a Florida estate plan? You most certainly are. In the event of a crisis or death, there will be no guidance for your family, your bank, your friends, or the court system. When we do not take the time to create an estate plan the court in Florida may be required to in order for there to be legal authority for another to act on your behalf. This can be time consuming, costly, and public, and can be avoided by completing your estate planning while you have the capacity to do so.

4. What does a Florida estate plan really do? A Florida estate plan employs a variety of legal planning tools to address how your assets will be managed and distributed in the event of your death or incapacity, among other things.

5. When should I get started with creating a plan or updating it? As soon as you possibly can. To maximize the potential benefits a Florida estate plan has to offer, it is important to put the plan in place sooner rather than later.

6. What will my Florida estate planning attorney discuss with me? She can discuss with you the importance of lifetime planning using tools such as the durable power of attorney for your finances. She can help you choose your decision maker, as well as back up decision maker, for times of crisis. She can also discuss with you the difference between will based estate planning and trust based estate planning.

We know this article may raise more questions than it answers. We want to help you achieve the New Year’s Resolution of having a Florida estate plan that can meet your needs. Elder and Estate Planning Attorneys, PA, is a law office small enough to provide personal service but large enough to provide service in Jupiter, as well as Palm Beach, Martin, St. Lucie, and Indian River Counties in Florida. Our law firm will guide you through legal challenges involving elder law, estate planning, trusts, veterans benefits, real estate, and more. We encourage you to contact us and schedule a meeting with our attorneys.

Do You Know the Danger of Making Holiday Gifts When It Comes to Elder Law Planning

During the holidays are you considering giving gifts of money to loved ones? Are you aware that monetary gifts can impact Medicaid eligibility? Did you know that if you needed to apply for Medicaid in the next five years, these gifts could have significant consequences? If you answered yes to the previous questions, be aware that the impact could be on both the giver and receiver.

With respect to the gift giver, be aware that the IRS allows a tax-free annual gift per person with an unlimited amount of donees. However, this relates to tax law planning, not to Medicaid eligibility.

In regard to gifting, Medicaid takes a different stance. In applying for Medicaid eligibility, when a person’s assets are reviewed, there is a “Look-Back” period of sixty months, depending upon the state. If it is found that the Medicaid applicant gifted money, or made an uncompensated transfer in order to be eligible for Medicaid, the penalty may be Medicaid ineligibility. The length of time of ineligibility is determined by the amount of the gift and the average cost of a private pay nursing home in the area.

Are there any options for the person deemed ineligible for Medicaid due to gift giving? Possibly. The gifter could collect the gift back, or reimbursement, in order to “undo” the penalty. Even if possession of the money makes he or she ineligible for Medicaid, he or she can spend it down by temporarily paying for long-term care or making a home modification related to his or her disability until he or she reaches eligibility status. In addition, there may also be a possibility of an undue hardship waiver, if Medicaid ineligibility will cause the person to go without medical care, food or shelter.

There may also be important impacts on the gift receiver. All states have an asset limit to be Medicaid eligible and it is not very high. In fact, Florida allows a single person to only have two thousand dollars. Even a small gift can push a potential Medicaid recipient over the eligibility limit.

With the assistance of an experienced Florida elder law attorney, a potential Medicaid recipient does have some options if he or she receives a gift. Your elder law attorney may suggest paying off debts and/or purchasing a funeral plan or a Medicaid eligible annuity. If money is received before applying for Medicaid, the money can also be spent down in a similar fashion.

Do you have questions? Please contact our law practice to learn more. We are here for you. Elder and Estate Planning Attorneys PA is a law office small enough to provide personal service but large enough to provide service in Palm Beach, Martin, St. Lucie and Indian River Counties.

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