ESTATE PLANNING AND ELDER LAW ATTORNEYS

Oct 27
0

Revocable Trust

By | Estate Planning

One of the many tasks to cross off your list before you die is establishing who will receive your property and assets. If you want to maintain tight control over where your belongings end up after your death, you can consider creating a revocable trust. At Sawyer & Sawyer,  we offer revocable trust assistance for clients throughout Orlando and Central Florida. Contact us today at 407-909-1900 to find out how we can help you. What Is a Revocable Trust? A revocable trust is a legal entity that holds specific assets and property for beneficiaries. The assets held in a trust are not subject to probate, allowing beneficiaries to receive them almost immediately after the trust owner dies. Trusts can contain all types of property, including: Real estate Vehicles Personal items Brokerage accounts Money You can continually add to or change the assets held in a revocable trust as desired. Trusts…

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Oct 27
0

Living Trust

By | Estate Planning

If you’d like to help your family members avoid the probate process after your death, creating a living trust may be a wise idea. At Sawyer & Sawyer, we offer professional living trust assistance for clients across Central Florida. We’d be happy to explain a living trust in more detail, help you create one, and ensure that your trust remains legally binding long term. What Is a Living Trust? A living trust is a financial arrangement that allows you to hold assets or real estate on behalf of a beneficiary. You may also see the terms  “revocable living trust” or a “revocable trust” in reference to a living trust. Creating a living trust for your beneficiaries is a method of avoiding probate after you pass, streamlining the process of distributing your assets. Better yet, living trusts are revocable, so you can alter yours at any time. A living trust includes…

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Oct 10
1

Be Careful Lending Your Car – The Dangerous Instrumentality Doctrine Can Make You Liable Even if You’re Not There

By | Legal info

Your car is probably the most dangerous item you own. We think of our vehicles as useful tools, but they are also a source of tremendous potential liability. While we all know we can be held liable for any accidents that result from our driving mistakes, many people in Florida do not realize that they can also be held liable if someone else is driving their car and causes an accident. That’s a frightening thought. You need to be aware of the risks and what you can do to minimize them. The Dangerous Instrumentality Doctrine Under the law, anything that is inherently dangerous or that can cause harm if used carelessly is considered a “dangerous instrumentality.” Explosives would be a classic example. The owner of a dangerous instrumentality is held strictly liable for harm caused by that dangerous article, even if they weren’t negligent in using it or weren’t even…

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Sep 15
0

Everyone Needs an Estate Plan—And Here’s What Happens if You Don’t Have One

By | Estate Planning

Essentially every adult leaves an estate when they pass away. An estate is just a legal term describing the financial affairs you leave behind. Someone will need to pay your final bills, and someone will receive any assets left over. That may not mean much to you. But it is important to realize that having a proper estate plan can not only reduce waste and ensure your wishes are honored after your death, but your plan can also protect you during your lifetime. To see why you need an estate plan, let’s take a look at what happens when you don’t have one. If You Become Incapacitated, No One Can Help A thorough estate plan can provide for your medical and financial needs if you are in an accident or get sick and are unconscious and unable to communicate. Without the right estate planning documents, no one can access your…

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Sep 14
1

Can’t I Just Give My House to My Kids So I Can Qualify for Medicaid?

By | Medicaid

To qualify for long-term Florida Medicaid benefits to cover nursing homes, in-home care, or care in some assisted living facilities, your assets must be less than the resource cap established by Medicaid. The simple solution would be to give everything to your kids, so you’d have no assets and you’d qualify for benefits. Of course, it doesn’t work that way. Rules penalize many property transfers made too close to the time someone wants to apply for Florida Medicaid. However, Medicaid planning attorneys know strategies to make the most of the opportunities allowed by the rules to help you conserve assets while establishing Medicaid eligibility. The key is to plan as much as possible. Look-Back Period To meet the asset limit for Florida Medicaid, you must have no more than $2,000 in “countable” assets. Your spouse is also limited in what they may own, even if they do not need care….

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