Long-term care is a terrible danger to the life savings of many senior citizens. The fear of losing hard-earned assets, possessions, and real estate property is a huge motivation for seniors to search out ways to protect themselves and their families from enormous long-term care costs.
A common problem that Trust lawyers in Tampa encounter – perhaps unexpectedly – is how the assets of an estate are handled when a beneficiary goes through a divorce. While we don’t want to put negative thoughts out there regarding our children getting divorced, losing the inheritance you left behind in a messy divorce would [...]
So, you’ve decided to finally do your estate plan. Good for you! One of the best things you can do to streamline the planning process is to get your finances organized. This may sound challenging, but it is much easier than you think. Just gathering a few documents will put you in the perfect [...]
When most people start preparing their estate plan, the focus is usually on distributing money, property, businesses, heirlooms, and other tangible assets. Digital assets, however, are often overlooked which then leaves ownership of them in limbo. In order to protect your digital assets, Brandon estate lawyers will encourage you to make sure that they are [...]
It's not uncommon for people to put off updating their estate plans. Life is often hectic, and updating your will or other documents usually isn't a top priority. This is especially true for younger people who tend to think that there will be plenty of time ahead. There are, however, certain points in your life [...]
If you're the parent or caregiver of someone with a disability, you may have considered setting up a Special Needs Trust. The purpose of such a trust is to provide for your loved one's needs without jeopardizing their eligibility for benefit programs like Medicaid or Supplemental Security Income (SSI). While most families who have [...]
Attention families with special needs children: The Good News about ABLE accounts | Tampa Special Needs Attorney
By Laurie Ohall, BCS and Tampa Special Needs Attorney As a Tampa Special Needs Attorney, I know that a major concern for families with special needs children is ensuring that their special needs child has the means to take care of themselves if, and when, the parent can no longer provide for the child. Parents [...]
As soon as an older parent starts showing signs of dementia, it's time to have open and honest discussions about their wishes, personal affairs, and plans for managing finances. If your parent doesn’t currently have designation documents in place that give others legal authority to make decisions, time is of the essence to have these [...]
Eligibility for needs-based programs like Medicaid and Supplemental Security Income (SSI) depend upon meeting certain financial requirements, such as the recipient with disabilities or special needs having no more than $2,000 in assets at any time. However, if a person with special needs stands to inherit assets, say after a parent dies, it could cause [...]
Going through a divorce is often stressful. Aside from the emotional turmoil, you're also dealing with the legal and financial decisions that are often part of the process. You may be looking forward to the day when everything is finalized so that you can move forward with your life. But there's one last thing that needs to be done, and it’s a task that is often overlooked by people going through a divorce. It's time to update your estate planning documents.