The Plan Parents Create Today Delivers Peace of Mind Tomorrow
As parents we believe we will live forever and always be there for our children. This is especially important for parents who have a child with a developmental disability. I would like to share a few tips for you to think about: 1. Guardian Advocate: When the child reaches age 18 they are legally an adult even if they…
The Ten Commandments of Resolving a Catastrophic Injury Case
1. Thou shalt recommend to your client to consult with a board certified elder law attorney before mediation. 2. Thou shalt take steps to preserve the client’s government benefits with a special needs trust. 3. Thou shalt have a guardian appointed timely. 4. Thou shalt notify the Medicaid collection agency of the settlement and satisfy the casualty lien. 5. Thou shalt recommend a combination of cash and a…
Beware The Pitfalls of Over-Structuring a Settlement
Plaintiff’s receiving a settlement want to have it safely and conservatively invested. As attorneys, we share their concern about dissipation of the settlement perhaps for different reasons. To safeguard the client (sometimes from their own fiscal irresponsibility) structured settlements are an option. The use of a structured settlement can be a double-edge sword as explained below.…
Do I Have To Pay Back The Medicaid Lien?
Imagine you have litigated a nursing home negligence case for years and you finally have received a reasonable offer to settle. As you present the news to your client he says “do I have to pay back the Medicaid lien? If I do there won’t be much left for me and I won’t settle.” You quickly…
Single Parents Need Proper Planning After Divorce To Avoid Guardianship
Do you know someone who is divorced with a minor age child? Perhaps you know someone who has a minor age child and their spouse died? What both situations have in common is that single parents need proper planning to avoid a guardianship for themself in the event of an unforeseen incapacity or disability. Many people…
Insurance Carriers May Delay Issuing Payment of Settlement Pending Determination of Medicare’s Reimbursable Conditional Payment
As we approach January 2012 when CMS will enforce mandatory reporting by insurance carriers for liability settlements, do not be surprised if more insurance carriers delay issuing payment until Medicare’s interests have been satisfied. Insurers are concerned, and rightly so, that they will be held responsible by CMS for repayment of Medicare’s conditional payment under…
Thinking about Tax Season? Think about Identity Theft
There are several ways criminals try to exploit seniors. One of the most common ways is by stealing your identity. Here are some tips, recommended by the Academy of Florida Elder Law Attorneys, about how to minimize your chances of falling victim to the unscrupulous: Shred important papers. Don’t put outgoing mail in an unsecured…
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…