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Government Benefits

How to Become a Florida Resident

By Elder Law, Estate Planning, Government Benefits, Tax Law

Becoming a Florida Resident can lead to significant benefits in access to both beautiful beaches and tax benefits.  One of the most important steps to becoming a resident is submitting a Declaration of Domicile.  In Sarasota County you will need to fill out the Declaration of Domicile and bring it to the Recording Department on the first floor of 2000 Main Street, Sarasota, FL 34247.  You will also need to pay a $10.00 fee for recording the Declaration.  A link to the Declaration of Residency form can be found below:

http://sarasotaclerk.com/FileLib/domicile.pdf

In addition to submitting the form above, consider taking the following steps to declare Florida as your residency:

  • Change your voter registration to Florida and vote here
  • Surrender your out-of-state driver’s license and obtain a Florida drivers license (or a Florida ID card if you do not drive)
  • Register your cars in Florida
  • If you belong to any out-of-state private clubs, change your status from resident to non-resident
  • File your federal income tax using your Florida address
  • If you have taxable assets that require it, file a Florida Intangible Personal Property Tax Return
  • Make primary banking accounts in Florida
  • Update estate planning documents using Florida documents and laws and declare yourself to be domiciled and a resident of Florida
  • Document that the majority of your time is spent in Florida through receipts or other relevant documentation. Report yourself as a Florida resident and use your Florida address when traveling and staying in hotels

 

For help updating your estate planning documents to reflect your Florida residency, contact one of our experienced estate planning attorneys at (941) 906-1231.

March 11, 2016
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Who should I name as the beneficiary of my life insurance?

By Asset Protection Planning, Estate Planning, Government Benefits

            Besides naming a specific individual as the beneficiary of your life insurance trust, you can name a trust as beneficiary.  This can be helpful in ensuring the money in this policy goes to whoever you designate instead of future creditors and can also bring tax benefits.  The three most common types of trusts to leave a life insurance policy to are a living trust, an irrevocable life insurance trust, and a special needs trust.  It is also common to include a spendthrift clause in these trusts which can help beneficiaries to manage the money from the life insurance policy by giving one individual the authority to distribute the funds according to the terms of the trust and their own best judgement.

To get recommendations on which type of trust you should leave your life insurance policy to, contact our office today at (941) 906-1231.

September 25, 2015
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Who is entitled to a Veteran’s Educational and Training Benefits?

By Government Benefits, Veterans Affairs

The Survivors’ and Dependents’ Educational Assistance (DEA) program provides that certain dependents of Veterans completely disabled or killed in active duty are eligible to receive educational opportunities.  Eligible dependents include sons, daughters, or spouses of a Veteran who experienced total disability in active service in the armed forces, who died with this disability, who is missing in action or captured by a hostile force, or who was forcibly detained by a foreign government.  A complete list of eligibility can be found here:  Click This Link
Qualified dependents are eligible to receive up to 81 months of education including degree and certificate programs, apprenticeships, or on-the-job trainings.

To apply for these benefits, fill out VA Form 22-5490, available at the following link: Click This Link

Those eligible but already enrolled in schooling must give the above application to their school and ask the school to complete VA Form 22-1999, available at the following link: Click This Link

September 15, 2015
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How can I help my loved one with special needs save for the future without affecting their state and federal benefits eligibility?

By Estate Planning, Government Benefits, Medicaid Planning

A new federal law allows individuals to help their loved one with special needs save for their future without jeopardizing their public benefits.  In December of 2014, the Federal Achieving a Better Life Experience (ABLE) Act passed through Congress.  This legislation allows anyone who became disabled before age 26 to save up to $100,000 (a large increase from the previously allowed $2,000) in a tax free account which will not affect their eligibility for state or federal benefits.  The money in an ABLE account can be used for education, housing, transportation, employment support, personal support services, legal fees, health expenses, funeral expenses, and financial management.  Regulations for these accounts are still in development but accounts should be able to be set up starting around mid-June of 2015.

If you have further questions or need Medicaid planning services for your loved one with special needs, contact Babette Bach, Esq., a Florida Board Certified Elder Law Attorney, at (941) 906-1231.

July 24, 2015
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Social Security Cost of Living Adjustment (COLA) Increase for 2015

By Elder Law, Government Benefits

The Social Security Administration (SSA) announced the COLA for seniors, placing the increase at 1.7% for 2015. There’s not going to be any change in the Part B premium of $104.90 (for those unmarried seniors with incomes below $85,000). The SSI monthly benefit is $733. The Presumed Maximum Value is $264.33. The 2015 Florida Medicaid Income Cap is $2199. Attorney Babette B. Bach is a Board Certified Florida Elder Law attorney and an expert in public benefits. Call Bach & Jacobs, PA to schedule an appointment with Babette to review your eligibility for Medicaid and other public benefits.

January 6, 2015
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Babette B. Bach, Esq. to Lecture about Estate Planning for Parents of Children with Special Needs

By Estate Planning, Firm News, Government Benefits

Attorney Babette B. Bach will give a presentation on estate planning for parents of children with special needs on October 14, 2014 at the Lakewood Ranch YMCA.  Topics will include planning for a child with special needs with a particular emphasis on special needs trusts.

If you have a child with special needs and would like legal advice on how to properly plan for your child in your estate planning, please contact Bach & Jacobs, P.A. at (941) 906-1231 for an initial consultation.

October 14, 2014
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AHCA Issuing New Increased Penalty Divisor for Medicaid

By Government Benefits, Medicaid Planning

The State of Florida Agency for Health Care Administration (AHCA) confirmed an expected increase in the 2014 average private pay daily rate for nursing home care.  The new number is $262.14, an increase from $250.42 last year.  This means the estimate of the new penalty divisor for Medicaid is expected to be about $7,995.00. It will take DCF several months to process the rule change implementing the new penalty divisor.  You can read a draft copy of the AHCA study here: http://origin.library.constantcontact.com/download/get/file/1110588872530-130/2014+Private+Pay+Rate+as+determined+by+AHCA.pdf

 

July 8, 2014
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Florida Increases Medicaid Personal Needs Allowance

By Government Benefits, Medicaid Planning

The State of Florida has enacted a new law that will increase the Personal Needs Allowance for Medicaid recipients from $35.00 to $105.00, the first increase in the history of the Medicaid Institutional Care Program in the state.  The increase will become effective on July 1, 2014. The increase is in line item #239 in the General Appropriations Act (HB 5001), which was not among the line items vetoed by the Governor.  $14,189,102 from the General Revenue Fund and $21,246,910 from the Medical Care Trust Fund are provided to increase the PNA for residents in institutional settings.

July 1, 2014
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Property Tax benefits for the surviving spouse of a 100% disabled Veteran

By Government Benefits, Tax Law, Veterans Affairs

Question: What are the property tax benefits in Florida for the surviving spouse of a 100% disabled Veteran?

Answer:  If a Veteran dies with a rating of 100% service connected disabled, then all Florida property taxes are exempt.  This benefit carries over to the deceased Veteran’s surviving spouse.  The surviving spouse is also exempt from paying property taxes.  If the spouse wishes to move they take the tax value of the home they lived in with their Veteran spouse to their new residence!

April 4, 2014
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