ESTATE PLANNING AND ELDER LAW ATTORNEYS

Mar 25
2

Who Should Be Your Trustee? What Families Get Wrong — and How to Get It Right

By | Estate Planning

Choosing a trustee is one of the most consequential decisions in estate planning. Yet families often make that choice based on love, loyalty, or a desire to keep the peace — rather than on qualifications and capability. Here’s what to consider before naming someone to that critical role. “Keeping Things Equal” Can Create Unequal Problems The instinct to treat children equally is understandable, but equality isn’t always the right framework for trustee selection. Different people have different strengths. One child may be financially savvy but lack compassion. Another may be deeply caring but poor with money. A better approach is to match the role to the person — naming a financially capable child as trustee while designating a more empathetic sibling as healthcare surrogate. Catering to individual strengths protects everyone, including the beneficiaries. Red Flags That Should Give You Pause Not everyone who seems qualified actually is. A financial advisor…

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Mar 11
2

Why Choosing the Right Trustee Matters More Than You Think

By | Estate Planning

Selecting a trustee is one of the most consequential decisions in any estate plan. A trustee is not simply “the responsible child” or the person who is best with money. A trustee is a fiduciary, meaning they are legally obligated to act solely in the best interest of the beneficiaries. They control assets, make distribution decisions, manage investments, and often serve for years or even decades. When a trust is designed to protect a loved one from creditors, poor financial decisions, addiction, disability, or divorce, the trustee becomes the gatekeeper. That shift in family dynamics can either preserve relationships or permanently damage them. Understanding the Fiduciary Standard A fiduciary operates under the highest legal standard of care. Trustees must follow prudent investment rules, avoid conflicts of interest, and provide annual accountings to beneficiaries. In Florida, these accounting requirements are not optional. Trustees are expected to inventory assets, safeguard property, review…

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Mar 02
2
person with a walker

How to Protect Your Assets from Florida Nursing Home Costs

By | Elder Care, Medicaid, Nursing Home

A Conversation with Elder Law Attorney Cary Moss of Sawyer & Sawyer, P.A. Key Takeaways Medicare does NOT cover long-term nursing home care — Medicaid does, if you qualify. These are two very different programs with very different rules. Florida nursing home costs range from $10,000 to $18,000 per month. Without planning, these costs can devastate a family’s finances. Many assets are already exempt under Florida Medicaid rules — including your home, retirement accounts, and your car — which means most people have more options than they realize. Medicaid planning mistakes (such as giving money to children, adding them to accounts, or acting on advice from other states) can make things significantly worse. Work with a Florida elder law attorney. It is almost never too late to do something. Even in a crisis, a comprehensive Durable Power of Attorney unlocks powerful legal options to protect your assets.   Introduction Few…

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Feb 18
2

The Hidden Risks of DIY Medicaid Planning

By | Medicaid

Many families try to protect assets from nursing home costs on their own, often acting out of urgency or fear. Unfortunately, well-intentioned moves like gifting money to children or transferring property without guidance can create serious problems. Medicaid has a five-year lookback period, and improper transfers can result in lengthy periods of ineligibility right when care is needed most. Once the gifted money is gone, it is not always possible to reverse those decisions, leaving families exposed at the worst possible time. Common Asset Protection Mistakes Families Make One of the most frequent mistakes is adding children to bank accounts, investment accounts, or deeds in an attempt to reduce countable assets. Medicaid generally treats jointly held assets as fully available to the applicant unless strict proof shows otherwise. These changes can also trigger unintended tax consequences, reduce stepped-up basis, and create ownership complications that are difficult to unwind later. What…

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Feb 11
1

Medicaid Planning and the Rising Cost of Nursing Home Care

By | Medicaid

For many seniors and their families, nursing home costs come as a financial shock. Monthly expenses can reach five figures, quickly draining savings that took a lifetime to build. One of the biggest sources of confusion is the assumption that Medicare will cover long-term care. In reality, Medicare offers limited short-term coverage, while Medicaid planning is often the primary path to managing ongoing nursing home expenses. Understanding how Medicaid works, what it covers, and how eligibility is determined is essential for families who want to protect assets while securing necessary care. Medicare vs Medicaid and What Families Need to Know Medicare is a federal health insurance program designed primarily for people aged 65 and older, but it does not cover long-term nursing home care. Medicaid, by contrast, is a joint federal and state program that can pay for long-term care for individuals who meet specific income and asset requirements. This…

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