Elder Law Archives

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?

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 refer to the person establishing the Trust. 

Do-It-Yourself: the Estate Planning Disaster!

With today's technology, consumers have plenty of resources to turn to when they think about their estate planning needs. On the internet and through self-help software or forms, many documents can prepared--everything from a Power of Attorney to a Living Trust or Will. But is doing it yourself really the way to go?

Paying for Nursing Home Care

With the aging of our population and the improved healthcare available, people are living longer. Of those, perhaps a large percentage will eventually need nursing home care. This will present a major financial burden to many families. Elder law planning is essential. So how does nursing home care get paid?

What Makes a Durable Power of Attorney Durable?

To say that a Power of Attorney ("POA") is "durable" means that the powers given in the instrument stay in effect even if the principal becomes incapacitated and unable to manage his or her own affairs. When a POA in Florida is not durable, the powers cease if the principal becomes incapacitated--thereby requiring that a court-ordered guardianship be established. Most estate planning attorneys would advise to avoid guardianship if possible.

Some Pros and Cons of Incentive Trust Provisions

As discussed in a previous blog, incentive trust provisions are designed by estate planning attorneys for clients who wish to promote or discourage specific behaviors or lifestyles by their beneficiaries. These provisions make or withhold Trust distributions to accomplish certain intended results. In essence, the provisions act as a "carrot or a stick." They either reward certain behaviors or accomplishments or they punish or seek to deter them. 

Incentive Trust Provisions--a Carrot or a Stick!

Incentive trust provisions are designed by estate planning attorneys for clients who wish to promote or discourage specific behaviors or lifestyles by their beneficiaries. These provisions make or withhold Trust distributions to accomplish certain intended results. In essence, under the old idiom, the provisions act as a "carrot or a stick." They either reward certain behaviors and accomplishments or they seek to deter them. Some examples provide the best understanding of how these provisions work.

In Florida, should you own your principal residence in an LLC?

In certain situations, Florida property owners recognize the benefits of owning real property in a Limited Liability Company (LLC). In particular, such ownership can protect the owner's other assets from liability in a lawsuit. It may also make transfer at death easier. However, in doing their estate planning attorneys can be asked by clients whether they should title their primary residence in an LLC.

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