Florida Asset Protection and Estate Planning Blog

Florida is an "Income Cap State" with regard to eligibility for Medicaid benefits to pay for nursing home care. That means that if the nursing home resident's income exceeds the "income cap", he or she will not be able to qualify for Medicaid benefits to pay for their nursing home care, unless a "Qualified Income Trust" is implemented. [A "qualified income trust" is often referred to as a "QIT", a "QIT Trust", or a "Miller Trust".]How much income can I make and sti

Proper Long Term Care Planning Helps Ensure Best Care

Published on 2012-01-25 07:03:24

There is no question that long term care for the elderly is expensive. Similarly, there is no question that as the population ages, the cost of long term care will continue to increase if for no reason other than the basic economic propositon that increased demand pushes prices higher when the supply doesn't increase proportionally. With boomers turning 65 at the rate of 10,000 a day there is practically no way for supply to keep up with demand. It's also true that everyone doesn't ha

Why You Should Not Create a Special Needs Trust

Published on 2012-01-19 10:46:23

Let's say you have a child with "special needs," or a sister, brother, mother or other family member. You have not created a special needs trust as part of your own estate plan. Why not? We know why not. We have heard pretty much all the explanations and excuses. Here are a few, and some thoughts we would like you to consider: I don't have enough money to need a special needs trust. Really? You don't have $2,000? Because that's all you have to leave to your child outside a special needs trust to

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