Recent Blog Posts
Working with Elder Parents in Planning Financially for their Long Term Care
You may be taking care of elderly parents now or looking at that possibility in the near future. According to a report from USATODAY/ABCNews/Gallup Poll, 41% of baby boomers are helping take care of elderly parents by providing personal help or financial assistance or...
Living at Home with Dementia
Written By : Denis Ashauer For adult children the recognition of dementia can either be a slow process or it can be "WOW! Things have changed!" This coupled with honoring the loved ones wishes about staying at home can create a dilemma. For those who are physically...
What is the 2010 IRA Contribution Deadline?
From Michael Rubin, your Guide to Retirement Planning The deadline to contribute to your IRA in any given year is the due date of the tax return of that year. For 2010 filing, you have an three more days than usual! Although 2010 is long gone in the eyes of most, not...
Florida Probate Questions Answered: What about Homestead Property?
Florida Probate Florida law recently changed in October, 2010 with respect to how a homestead passes from the decedent to his or her surviving spouse and descendants. Under the old law, if the house was solely in the name of the decedent who was survived by a spouse,...
Somebody’s Sweetheart
The month of February and Valentines Day brings a celebration of love and stirs couples to rekindle feelings of romance and devotion. Not so different from young couples are aging seniors, celebrating memories of sweethearts and romance in days gone by. Sit a while...
Florida Probate: What if there is no Will?
If a person dies without a Will (or if the Will is invalid), then the estate is “intestate”. This simply means that Florida law dictates the decedent’s heirs and who is entitled to administer the estate, i.e., be the personal representative/executor. If someone dies...
Florida Probate & Estate Planning: What is a Will?
A will in Florida is a writing, signed by the decedent and two witnesses, that meets the requirements of Florida law. Additionally, to save your estate costs at your death, the Will should have a “self-proving affidavit” where both the decedent and the witnesses sign...
Why must the decedent’s assets go through Florida probate?
is necessary in order to pass title or ownership of an asset to the decedent’s beneficiaries. If the decedent died with a Florida Will, this is called a “testate” estate and the Will dictates who gets the assets and who gets to administer the estate. If the decedent...
I was on my parent’s bank account – does this have to go through probate?
That depends on how the bank account was titled. Assets must go through Florida probate only if they are owned solely in the decedent’s name at death. In other words, there were no co-owners on the asset nor were there beneficiary designations (such as with life...
What is Probate? Florida Probate Answers Revealed
What is probate? Probate in Florida is a court-supervised process where assets of a deceased person (the decedent) are identified and gathered by the personal representative/executor (means the same thing). Essentially, the personal representative pays the decedent’s...
Is a Durable Power of Attorney useful after someone dies?
Durable Power of Attorney: can it be used after death? I had a client call me last month after her mother passed away. She wanted to know why she couldn’t use the Florida durable power of attorney (DPOA) she had for her mother to close out a bank...
Important 2010 Tax Info Every Teacher Should Learn
If you are a teacher, student or someone who itemizes on their tax return, don’t plan on filing your tax return early. Because Congress waited so long in passing the Tax Relief Act of 2010, the Internal Revenue Service will be not be begin processing some tax returns...
The Tax Relief Act of 2010 – How Does it Affect You?
On December 17, 2010, President Obama signed into law the 2010 Tax Relief Act which has provisions dealing with income tax, estate tax and unemployment insurance provisions. What is important about this new law is that it is a temporary measure and, for the most...
Dad, Can We Talk? Answers to 9 Top Questions About Discussing Long-Term Care Planning
Recently a reporter asked ElderLawAnswers founder and president, Harry S. Margolis, some questions for an article on talking with aging parents or other family members about sensitive issues such as wills, funeral arrangements, assisted living or medical treatment...
How to Report Elder Abuse in Florida
Florida Law requires that any person who knows or suspects that a vulnerable adult has been or is being abused, neglected or exploited shall immediately report such knowledge or suspicion to the Florida Abuse Hotline on the toll-free phone number, 1-800-96-ABUSE...