Those who rely on government disability benefits can face the loss of those benefits if their income and assets become too great. This forces individuals to choose between the benefits of financial investments or getting regular needed disability benefits such as Supplemental Security Income and Medicaid. People in Florida may be wondering if there is a way to support both needs. A recent article telling about third-party special needs trusts gives more information on the subject.
Few people like to spend much time thinking about how they might become dependent as they age. Daily tasks, such as housekeeping, hygiene, and taking care of bodily functions are sometimes taken for granted. Aging and disability may take a toll on a person's ability to self-care at home, sometimes leading to a need for entering a nursing home. A recent news story shares information that people in Melbourne, Florida may find helpful when consulting with attorneys to plan their long-term care.
Any Florida resident who wants to avoid having the state make important decisions about the distribution of his or her property after death can draft estate-planning documents. That will also spare that person's loved ones the burden of complicated decision-making after his or her death. Knowing that one's estate planning is taken care of can be liberating and give peace of mind.
When families in Florida are joined in second or third marriages, blended families are formed. Along with the excitement and adjustments to get used to the new dynamics with children of both spouses, and potential children together, estate planning is sometimes forgotten. Every blended family is different and has unique estate planning needs to address. The best place to start may be a prenuptial agreement that is probably the most effective way of protecting the children of each spouse while also defining each spouse's financial responsibilities and rights in the marriage.
Most people in Florida have expectations and visions for their own old age. These may include matters related to how a person wants end-of-life arrangements to be made, along with plans for long-term care, a will, trusts and any other estate plans. However, the prospect of drafting all the necessary documents and keeping it updated may seem overwhelming. Fortunately, help is available.
As you age, you know that you want to protect your assets. One of your most valuable assets is your home. Should you place your home in a trust to protect it?