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Planning for your future and for that of your elderly loved ones is extremely important. If you expect that you or your family will need financial assistance in order to afford long-term care, it is vital that you work to develop a Florida estate plan with an eye towards maintaining eligibility for needs-based governmental… Read More »
The Palm Beach County Commission officially declared November 2019, as Alzheimer’s Public Awareness Month by issuing a proclamation on Tuesday, November 5th. As Vice-Chair of the Board of Directors of Alzheimer’s Community Care, attorney G. Mark Shalloway was on hand to share in the honor and recognition given to Alzheimer’s Community Care. Mr. Shalloway… Read More »
Parents want to provide for their children. If that child has special needs, the desire to protect and provide for that child takes on a whole new level because a child with special needs may never be fully independent. While parents may be tempted to give money or assets directly to these children, such… Read More »
Structured settlements are a perfect addition to the funding of your Supplemental Needs Trust or Special Needs Trust. If structured properly, they can provide stable income over time, along with tax benefits and guarantees without harming eligibility for needs-based programs such as Medicaid. Continue reading for a discussion of how a structured settlement can… Read More »
According to studies, more than 50% of Americans will end up in a nursing home or other long-term care facility after age 65. As we have previously discussed, long-term care is incredibly expensive. For many people, the only way to reasonably expect to afford long-term care is through government needs-based funding like Medicaid. There… Read More »
Long-term care after retirement is expensive, often prohibitively so. Nursing home care can cost upwards of $100,000 or more annually, depending on location and type of facility. While Medicare covers some medical costs, it does not cover long-term care in nursing homes. For many people, the only way to afford long-term care as a… Read More »
We previously discussed some of the common misconceptions clients have about Medicaid planning. One area we mentioned merits further discussion: the individual net value maximum and the five-year look-back period for Medicaid eligibility. Read on for an explanation of the look-back, and reach out to a dedicated West Palm Beach Medicaid planning and elder… Read More »
Needs-based governmental benefits such as Social Security Disability Insurance (SSDI), Supplemental Security Income (SSI), and Medicaid can be a vital and necessary part of a retirement plan, especially if the person has a disability. Special needs planning might need to take into account social media activity from this point forward. SSA Considers Reviewing Social… Read More »
West Palm Beach special needs and elder law attorney for more information. Special Needs Trusts Can Be Used to Pay for a Much Wider Variety of Expenses Than Government Funds Broadly, special needs trust funds can be used to pay for things like education, recreation, counseling, and medical treatment beyond the basic necessities of… Read More »
Achieving a Better Life Experience (ABLE) accounts are savings accounts designed for individuals with disabilities to assist them in saving money and building savings and retirement funds without damaging their ability to receive government benefits such as social security and Medicaid. Recent changes to the federal rules governing ABLE accounts now enable account holders… Read More »