Category archives: Estate Planning
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7 years ago
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We are asked regularly about how to cover the high cost of nursing home care. This is a serious concern for many, as it appears that these costs for skilled care continue to rise: www.floridaelder.com/nursing-home-costs-rise-sharply-2017/. Fortunately, with proper planning, there are ways to prepar... [read more]
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7 years ago
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The median cost of a private nursing home room in the United States has increased to $97,455 a year, up 5.5 percent from 2016, according to Genworth's 2017 Cost of Care survey, which the insurer conducts annually. Genworth reports that the median cost of a semi-private room in a nursing home is $85,... [read more]
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7 years ago
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We are regularly asked by clients what they can do to ensure that they are protected financially if, in the event of an accident, an unexpected illness, or a period of incapacity, they are unable to make financial and business decisions for themselves. We advise clients to have a trusted family mem... [read more]
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7 years ago
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Caregivers are some of the greatest unsung heroes in our society. One thing we've noticed as we help clients in our offices in Orange Park, Jacksonville, and St. Augustine is how many of our clients have trusted and caring family members or friends helping them as they manage the challenges that can... [read more]
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7 years ago
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Last week, users of the music sharing App, Spotify were treated to a customized playlist, “Your Time Capsule” that offered nostalgia—and perhaps more. Spotify’s customized, “Your Time Capsule” gave users great tunes from their youth, based on their music preferences, and it’s possible that it also h... [read more]
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7 years ago
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When Dillon and Geneva Polk lost their beloved long-time dog Leo, they knew there would never be another loyal companion quite like him, but they missed having a four-legged member of the family.
Then they met Rusty.
"Rusty is definitely not Leo," says Geneva, "but he's really a lot fu... [read more]
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7 years ago
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One of the concerns often expressed to us by clients is how they or a loved one can qualify for Medicaid for long-term care when their gross income exceeds the monthly maximum limit of $2,205 in Florida. For these clients, a solution we provide is helping to set up a Qualified Income Trust in orde... [read more]
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7 years ago
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The Department of Housing and Urban Development (HUD) has announced changes to the federal reverse mortgage program. Citing the need to put the program on better financial footing, HUD will raise reverse mortgage fees for some borrowers and lower the amount homeowners can borrow.
A reverse mo... [read more]
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7 years ago
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Hurricane Irma was the largest hurricane in history to form over the Atlantic, and it has devastated residents in our Northeast Florida area. Many people in our local communities of Orange Park, Jacksonville, and St. Augustine are still affected by damage from this vicious and unprecedented storm. M... [read more]
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7 years ago
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Grandparents may be tempted to leave an IRA to a grandchild because children have a low tax rate, but the "kiddie tax" could make doing this less beneficial.
An IRA can be a great gift for a grandchild. A young person who inherits an IRA has to take minimum distributions, but because the dist... [read more]
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7 years ago
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One of the most frequent questions we get asked by clients is how to apply and qualify for Medicaid to cover the high cost of a skilled nursing home for the care of a loved one. We receive calls about this almost daily from spouses and family members who are in crisis or near-crisis situations, and ... [read more]
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7 years ago
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Online bill paying has become a popular way to make paying bills easier, and now you can pay your Medicare premiums online too. If your bank allows customers to pay bills online, you can use that service to pay your Medicare premiums.
To set up online bill paying, contact your bank. To make s... [read more]
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