Blog:
Asset Preservation Planning: Don’t Try This by Yourself
The worst legal mistakes I have seen (and successfully fixed) result from clients listening to their neighbors’ or friends’ Medicaid and estate planning advice. This includes both lay people and advice from some professionals as well, even attorneys and accountants. There have been a multitude of changes to Medicaid law on the federal and state…
Year End Tax Planning by Teri Kay, CPA
Planning is important to successfully minimize your personal and company taxes. While some people think “tax season” is March and April, it really starts in November. Year-end tax planning begins with an estimate of your personal and/or business income, expenses, assets and liabilities based on year-to-date numbers and estimates through the end 2011 and a…
New Durable Power of Attorney Law – Effective October 1st, 2011
The new Durable Power of Attorney law which became effective October 1, 2011 contains many sweeping changes that are intended to conform Florida’s law to the Uniform Power of Attorney Act. A few of these changes include: Requiring that specific types of financial authority delegated to an agent (i.e. gifting; create or change a beneficiary…
CMS Releases New Memorandum Providing Guidance on Exception to Liability Medicare Set Aside
On September 30, 2011, CMS issued a new memorandum concerning liability Medicare set-aside arrangements. The memorandum states that Medicare’s interests will have been considered in a liability insurance settlements and awards if the treating physician for the plaintiff opines in writing that: the plaintiff has completed treatment by the date of the settlement: future medical…
Durable Power of Attorney Law
The new Durable Power of Attorney law which became effective October 1, 2011 contains many sweeping changes that are intended to conform Florida’s law to the Uniform Power of Attorney Act. A few of these changes include: Requiring that specific types of financial authority delegated to an agent (i.e. gifting; create or change a beneficiary…
Have You Checked Your I.R.A. and 401(k) Beneficiaries Lately?
Do you know that you can designate different beneficiaries under your I.R.A. (Individual Retirement Plan) than under your 401(k) plan? A 401(k) provides protections for a surviving spouse whereas an I.R.A. does not. The reason for this is that a 401(k) is an employee based plan that is governed by the federal laws of ERISA…
The Affordable Healthcare Act
Here are some of the highlights of the law passed in 2010: Health care coverage will be available to individuals who are denied insurance due to pre-existing conditions through 2013. In Florida, the Pre Existing Condition Insurance Program (PCIP) is run through the federal government. You must be a citizen or national, uninsured for six…
Time for a Legal Checkup!
I have recently observed a client concern that I would like to share with you. When a person does not take the time to make pre-need funeral arrangements, if can cause conflict among the survivors. In certain situations the conflict may require resolution by a Court. To benefit our clients and help ensure that their…
Court Approves Structured Settlement for a Minor That Extends Beyond the Age of Majority
The Fifth District Court of Appeals has reversed a trial court’s ruling that it could not approve a structured settlement proposal for a minor. In Hancock v. Share (Case No. 5D10-2069) the minor’s Mother was appointed her Guardian. The Guardian petitioned the Court for approval of the proposed settlement and purchase of the structured settlement payable over…
Don’t Forget to Fund Your Trust!
When you left our office after signing your trust agreement you had peace of mind knowing that your estate plan was legal and enforceable. If you decided that you would fund the trust on your own did you complete that process? When you choose to handle things yourself we do not have an ongoing duty…
