A supplemental needs trust, also called a special needs trust, is a tool for estate planning that allows a disabled individual to receive monetary support without forfeiting any government benefits they are currently receiving such as SSI or Medicaid. If you're a...
Trusts
How to approach your parents about estate planning
End-of-life planning is emotional for everyone as no one likes to be confronted with their mortality. However, if you have a parent living in Florida who is 65 or older and doesn't have a will or an estate plan, the time to talk to them is now. Consider these tips on...
The key differences between wills and trusts
At a minimum, your estate plan should consist of a will or a trust. In some cases, both may be necessary to help you achieve your estate planning goals in Florida. Take a look at the key differences between the two documents and what they can do to make sure your...
How to choose an agent to act on your behalf as a power of attorney
There comes a time in everyone's life when setting up a power of attorney makes sense. That moment is different for everyone. One aspect of the legal document that remains the same for all is the need to select an agent to act on your behalf. How does a power of...
Setting up a special needs trust
Do you have a family member who has special needs? You can establish a trust to take care of them after you pass. Setting up a special needs trust in Palm Beach, Florida is a complex affair. The steps to do so are easier when you have a professional advisor to guide...
Steps in planning a special needs trust
Special needs trusts in Florida give you a way to pay for the care of a child you have with disabilities. Whether you're alive or you have passed away, these trusts operate on the orders you set. In many cases, Florida families choose special needs trusts in order to...
Special needs and trusts
A child or grandchild with special needs is someone who might benefit from the structure and the wealth preservation offered by a trust in Florida. These trusts can be specially designated and designed to protect them and their well-being without blocking them off...
Qualifying for a special needs trust in Florida
For Florida families of people with disabilities, special needs trusts can play an important role in ensuring that loved ones are cared for. Many people with disabilities must access government programs like Social Security benefits or Medicaid in order to obtain the...
Is it possible to contest a trust like you can contest a will?
It's common for Florida residents to create a will or trust. While most people know that wills can be contested, it's fair to wonder if the same can be said for trusts. It's possible to legally contest a trust if you believe that your loved one didn't intend for the...
Why estate planning is a gift for your family
The death of a family member can be devastating. Having to untangle your financial details without the help of a solid estate plan can make a difficult time even worse and may even put unnecessary strain on family relationships. An estate plan can help minimize your...
