For more information regarding elder law and the planning options available to you, contact the law office of estate planning lawyer Lee A. Rosenthal today.
As an elder law attorney, I advise and represent clients in regard to the following:
Living will
Guardianship
Conservatorship
Testamentary trust
Supplemental needs trust
Under the rules for Medicaid, assets from certain kinds of wills and trusts are exempt from the eligibility requirements of Medicaid. In the case of a testamentary trust, a deceased spouse can create a trust for their surviving spouse in their will. Under the rules of Medicaid, if the assets from the testamentary trust are dispersed according to the prerogative of the trustee and not necessarily for the surviving spouse's support, the funds are exempt from Medicaid eligibility requirements. A testamentary trust can then be used to leave funds for a surviving spouse living in a nursing home or other care facility without affecting their eligibility for Medicaid.
A special needs trust can be established by a disabled beneficiary themselves, using their own resources. No Medicaid or SSI eligibility penalty is incurred. However, once the beneficiary passes away, the State can recover the cost of the beneficiary’s Medicaid expenses from the remaining funds in the trust. Even so, by law there is no limit to the amount of income or principle that can be paid by the trust for the beneficiary while he is alive.
When elderly people are victims of undue influence or their ability to manage their own affairs is no longer possible, establishing a guardianship or conservatorship is necessary. As an elder law attorney, my office prepares all necessary information, consulting medical and psychological experts if necessary. Especially in cases involving Alzheimer's disease or Parkinson's disease, establishing a guardianship early is essential.
If you have questions regarding the legal and financial options available to you or an elderly parent, contact estate planning lawyer Lee A. Rosenthal today. I can help you find answers and solutions that work best for your situation.
My North Palm Beach law office, Lee A. Rosenthal, P.A., serves Florida residents in Palm Beach and Martin counties, which includes Palm Beach Gardens, Palm Beach, West Palm Beach, North Palm Beach, Royal Palm Beach, Jupiter, Boynton Beach, Greenacres, Lake Worth, Stuart, Tequesta and Wellington.
Lee A. Rosenthal, P.A.
Florida Elder Law Attorney
631 U.S. Highway One • Suite 302
North Palm Beach, FL 33408
Phone: 561.799.5290 • Fax: 561.799.9987
E-Mail: Contact Us
