Durable Power of Attorney

By | FAQ

What is a Durable Power of Attorney?

A Durable Power of Attorney is a legal document that allows you to select an individual, called an agent, to manage your money and property if you become incapacitated. Your agent is granted immediate power when you execute a DPA. Anyone can be designated, but most commonly clients select his or her spouse, partner, trusted family member, or friend. By executing a DPA, it allows you to decide who will make financial, legal, and business decisions for you. Your agent is also your fiduciary, meaning they are legally bound to act in your best interests, not theirs.

If you become incapable of making decisions for yourself, and you do not have a properly drafted DPA, it may be necessary to apply to a court to have a guardian appointed. The guardianship process is time-consuming, expensive (often costing thousands of dollars), and emotionally draining.

Medicare vs. Medicaid

By | FAQ

Medicare vs. Medicaid: What’s the Difference?

Medicare and Medicaid are different programs created by the federal government. Medicare generally is a health insurance program for people over the age of 65, certain people on disability, and some people with permanent kidney failure. Medicare, in most cases, does not pay for custodial care (care that involves assistance with daily life activities); but does pay for skilled nursing care for a limited period of time.

Medicaid is jointly administered with the federal and state governments. Medicaid covers custodial care needed in long-term care. In Florida, Medicaid can cover long-term care in a variety of settings such as the recipient’s home, assisted living facilities, and nursing homes. Medicaid is a means-tested program and to be eligible, individuals must meet certain financial criteria.