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Monthly Archives

May 2016

Florida’s Medicaid Penalty Factor to Increase Effective June 1, 2016 by Babette B. Bach, Esquire, Sarasota, Florida

By Elder Law, Estate Planning, Medicaid Planning

As of June 1, 2016 the Department of Children and Families has amended their Medicaid rules to increase the penalty divisor for uncompensated transfers (i.e. gifting) from $8,346 to $8,662. This new penalty divisor reflects the estimated monthly average cost of skilled nursing home care in the state of Florida. Any transfer for less than fair market value made within 60 months (5 years) of applying for Medicaid will be subject to a penalty. For example, if someone gifted $86,620 within the 60 months, it would result in 10 months of ineligibility for Medicaid.
Anyone who anticipates needing to apply for Medicaid for skilled nursing home care costs should avoid gifting and should not gift without consulting with a board certified elder law attorney. It may be possible to avoid this penalty with good planning.
Contact our office to schedule an initial consultation for any of your Medicaid Planning, Estate Planning, or Veterans Benefits needs.

Babette B. Bach, Esquire, Board Certified Elder Law
Bach & Jacobs, P.A.
240 S. Pineapple Avenue, Suite 700
Sarasota, FL 34236
941-906-1231
941-954-1185 facsimile
www.bachjacobs.com

How does Divorce affect Intestate Succession in Florida?

By Elder Law, Estate Planning, Probate

            When a divorce is finalized, a former spouse’s right to an inheritance through Florida’s intestacy laws ends.  This means that if a spouse dies without a will and their estate goes through probate, the surviving ex-spouse would have no right to an inheritance if a divorce had been finalized prior to the death.  However, if a divorce is still in progress but not finalized at the time of death, the surviving spouse has full rights to their inheritance as defined by Florida’s intestate succession rules.

Florida Intestate Succession Rules

By Elder Law, Estate Planning, Probate

If someone in Florida dies without a will, their estate is distributed to living relatives following intestate succession laws.  In the rare case that someone dies without any relatives including great aunts and uncles, cousins of any degree, or nieces or nephews, their estate would escheat, or be passed to, the state.

Some common questions about Florida’s intestate succession rules regard how certain relatives are treated in the process.  Half-relatives, such as half brothers or sisters, are entitled to inheritances as if they were “full” relatives.

If you have further questions about the probate process, intestate succession, or setting up estate planning documents to avoid probate, contact one of our experienced estate planning or probate attorneys at (941) 906-1231.

What is Intestate Succession?

By Elder Law, Estate Planning, Probate

If someone in Florida dies without a will, most of their assets are subject to the state’s “intestate succession” laws which determine who the beneficiaries will be.  Some exceptions are “non-probate” assets such as properties placed in a living trust, life insurance policies, IRAs, retirement accounts, and payable on death accounts which will immediately be passed upon death to the co-owner or a previously designated beneficiary, regardless of whether the decedent had a will.  The rest of the decedent’s assets will be passed under the laws of intestacy to their surviving spouse, decedents, parents, or siblings depending on the members of their surviving family.  For example, if someone leaves behind a spouse and descendants from only the deceased person and their spouse, the spouse would receive their entire estate.  However, if someone leaves behind a spouse and descendants from a prior marriage to someone else, the spouse and descendants would each inherit ½ of the estate.

If someone you love has recently passed away and you need guidance on what to do next or who will inherit the estate, contact our office at (941) 906-1231 to speak to one of our attorneys.

Reopening a Probate Estate in Florida

By Elder Law, Estate Planning, Probate

If assets are discovered after a probate proceeding has ended, it may be possible to reopen the estate through a motion and possibly a hearing.  When thinking about reopening an estate, you should first consult with an experienced probate attorney who will be able to determine whether the personal representative still has authority to act.  This would depend on the amount of time which has passed since the probate’s closing and applicable state laws.  The fee for reopening a closed estate is around $50 in Sarasota County.  For more information about reopening a probate estate, see the attached fact sheet from the Sarasota Clerk of the Circuit Court’s website.

Fact Sheet

If you have further questions about a probate proceeding or want to reopen a probate estate, contact one of our qualified probate attorneys at (941) 906-1231.

 

 

How to Deposit a Will in Sarasota County

By Elder Law, Estate Planning, Probate

Wills must be filed with the Clerk of the Circuit Court within ten days of a death under the Florida Probate Code.  There is no fee for filing a will.  The Sarasota Clerk of the Circuit Court office is in the Probate Department at 2000 Main Street, Room 102, Sarasota and the Venice Branch is in the R.L. Anderson Administration Building at 4000 South Tamiami Trail on the second floor.

If you are going through the probate process, you will need an experienced probate attorney to represent your interests.  Call our office at (941) 906-1231 for an initial consultation.

Creditor Period in Florida

By Asset Protection Planning, Estate Planning, Probate

During a probate administration, a Notice to Creditors must be published and creditors must be given 90 days to submit claims against an estate.  If there are known creditors for an estate, they must be notified directly by the personal representative to avoid the creditor being granted an extension to file after the 90 day standard period.  If you are trying to avoid probate or need legal assistance during a probate or ancillary probate administration, contact one of our experienced probate attorneys at (941) 906-1231.

What to do if Elder Exploitation is Suspected

By Asset Protection Planning, Elder Law

If you believe that you or an elderly person are being exploited financially, take immediate action to protect the alleged victim of the exploitation.  Acting quickly can increase the chance that misappropriated assets can be recovered.  An example of financial exploitation would be if a son or daughter took money out of a parent’s account to help with their own personal financial troubles.  In a situation like this, you should call adult protective services, the Elder Abuse Hotline, the police, and an experienced elder law attorney.  Florida laws protect elderly residents from financial exploitation and if misappropriated assets are not returned by the exploiter within 60 days, you could be entitled recover triple your money.

An elder law attorney may be able to help you protect your assets and pursue remedies under Florida’s civil theft statute.  To speak with Florida Board Certified Elder Law Attorney Babette Bach, Esq. call our office at (941) 906-1231.

Adult Protective Services: (877) 595-0384

Elder Abuse Hotline: 1-800-962-2873