A familiar term often used in estate planning discussions involves a "TOD" or "POD" designation. These abbreviated designations of "Transfer on Death" and "Pay on Death" and are usually used in the context of certain financial accounts such as checking,savings, or...
Complex Legal Challenges
Elder Law
Does my Living Trust need a Tax Id. Number?
When estate planning lawyers set up a Living Trust for a client, they should advise the client to take steps to transfer their assets--such as bank accounts--into the Trust. This process is called "funding" the Trust. Often when funding the Trust, a client will be...
What is an “Incontestability” Provision of a Life Insurance Policy?
Many states, including Florida, have laws which require life insurance policies to become incontestable after a period of time. As a result, most life insurance policies have a provision entitled "Incontestability." So what does this mean? An incontestability...
Medicaid Claims Against a Florida Estate
As is commonly known, Medicaid is a federal program which provides healthcare benefits to certain persons with low income. The program is administered at the state level. Section 1917 of the Federal Social Security Act (42 USC § 1396(p)), and 42 CFR 433.36,...
In Florida, Should I Title My Vehicle in My Trust?
When a person establishes a Living or Revocable Trust, it is necessary to transfer certain assets into the Trust. Estate attorneys often call this "funding the Trust." Assets such as real estate, brokerage accounts, stocks, etc. can be transferred into the name of the...
Leave a Road Map for Your Loved Ones to Follow After You’re Gone!
As estate attorneys, we often have families come in after the death of a loved one and they have no idea where to start. What assets--accounts, investments, real estate, insurance, retirement accounts--did their loved on have? Where did their loved one have these...
Insuring Assets in Your Trust…a Must!
Estate planning attorneys often recommend that you transfer your assets into a Living Trust (also called a Revocable Trust). This process is sometimes called "funding" the Trust. By transferring assets into the Trust before death, you can avoid--or at least...
In Florida Elder Law, What is the CARES Assessment?
In the field of elder law in Florida, the CARES program is often discussed. The Comprehensive Assessment and Review for Long-Term Care Services (CARES) is Florida's federally mandated pre-admission screening program for nursing home applicants. Federal law...
Can I prevent my beneficiaries from knowing what other beneficiaries are receiving at my death?
As an estate attorney, I sometimes have clients who want to name multiple beneficiaries but do not want each beneficiary to know what the other is to receive. These clients will often ask, is this possible? When a person executes a Last Will and Testament or a Living...
In Estate Planning, What’s a Settlor, Grantor or Trustor?
In estate planning, when a person signs a Living Trust or a Revocable Trust (they're the same thing), they are identified using one of several different terms. These include "Settlor", "Grantor", or "Trustor." In Trust lingo, they all mean the same thing and they...