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Elder care attorney Sarasota

The Basic Steps of Probate in Florida

By ProbateNo Comments

Probate is the legal process of proving that a Will is valid in court and administering the estate of the decedent according to the terms of their Will. If you are the personal representative of an estate, probate can become a complex and overwhelming matter. In Florida, the probate process can be broken down into four fairly simple steps. These steps will help you acquire a better understanding of how the probate process works and provide guidelines to follow that will help you fulfill your various duties.

Step 1: File a petition and give notice to the heirs and beneficiaries

File a petition with the probate court. You will either need to admit the Will and appoint the personal representative or, if there is no Will, appoint an administrator for the estate. In some situations, you will need to provide notice of the court hearing to all interested parties, which is usually the beneficiaries and heirs.

Step 2: Give notice to all creditors                                    

Following appointment by the court, the personal representative must give written notice to all creditors of the estate that indicates the date by which claims must be submitted. A notice will need to be filed publically to notify any unknown creditors, which can be done through the newspaper. Then, the creditors must file a valid claim with the court in order to get paid.

Step 3: Pay all debts, including taxes and funeral expenses

As the personal representative, you need to ensure that all funeral bills and final expenses have been paid. Additionally, determine which creditors’ claims are legitimate and pay those that are.

Step 4: Ask for permission to transfer remaining assets to beneficiaries

Once the creditor waiting period is over and all bills are paid, you can petition the court for the authorization to transfer assets to the beneficiaries indicated in the decedent’s Will and then close or discharge the probate proceeding.

If you need legal advice regarding the probate process, please contact our office at: 941-906-1232 to schedule an appointment with one of our attorneys.

February 27, 2018
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FINRA Introduces New Rules Addressing Financial Exploitation of Senior Citizens

By Elder LawNo Comments

Recently, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 17-11, announcing that FINRA’s new rules addressing the financial exploitation of senior citizens would go into effect as of February 5th, 2018.  These new rules, which gained SEC approval, implement two important changes that are designed to help better protect senior investors.

The first change amends an existing Rule (Rule 4512) and requires that firms make “reasonable efforts” to obtain the name and contact information of a trusted person. This means that, when an investor that is 65 or older opens an account, the institution is required to ask them for the name and contact information of an individual that senior trusts with whom the institution may communicate if financial exploitation is suspected.  Additionally, the amendment to Rule 4512 states that existing senior customers will be asked this same question when their profile is updated. However, an individual is not required to list a trusted contact person and will not be prohibited from opening or maintaining an account if they refuse to do so.

The second change is the implementation of a new rule, Rule 2165, that allows member firms to place temporary holds on customer accounts when there is a reasonable belief of financial exploitation. This rule states that, if an institution suspects financial exploitation of someone 65 or older (or someone 18 or older that is disabled or considered mentally impaired), it can place a temporary hold of up to 15 business days on the disbursement of funds or securities from the account. This rule only applies to suspicious disbursement of funds or securities, not to securities transactions. Once this temporary hold starts, the institution has two business days to contact the customer as well as their chosen trusted contact person to investigate the matter.

Bach & Jacobs, P.A. employs elder law litigators who assist seniors and their families in combatting financial exploitation of the elderly.

February 6, 2018
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Recent Survey Has Found That More Than Half Of Americans Currently Do Not Have A Will

By Estate PlanningNo Comments

A survey of approximately 1,000 adults, conducted by the Princeton Survey Research Associates International in January of 2017 indicates that only approximately 42% of Americans adults have created Estate Planning documents such as a Wills or Living Trusts. Furthermore, it reports that, out of American adults who have children, only 36% have developed estate plans. While it is understandable that many Americans do not want to think about their deaths and likely put off writing a Will or participating in Estate Planning due to this, it is important to remember that processes such as these can help ensure that your loved ones have financial security after you are gone.

Another reason that individuals many not create Wills is because they do not believe that they have an amount of assets that is substantial enough to have value to anyone. However, regardless of age or economic status, you should create a Will so that your wishes regarding your property and personal belongings are followed. Additionally, making a Will can help bring any individual peace of mind and a sense of certainty.

If you have any inquiries regarding Wills or other Estate Planning documents, please contact our office at: 941-906-1231 to set up an appointment with one of our talented attorneys.

January 2, 2018
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What is Your Estate Planning IQ?

By Estate PlanningNo Comments

Kiplinger.com has a new quiz that allows an individual to assess their smarts when it comes to Estate Planning, Wills and Trusts. This quiz is multiple choice, consists of ten questions, and will give you your results once you have completed it. Additionally, the quiz will provide you with an answer to each question as well as an explanation of that answer immediately after you submit it. Click the following link to test your knowledge of Estate Planning:

http://www.kiplinger.com/quiz/retirement/T021-S001-know-about-wills-test-your-estate-planning-smarts/index.html

Didn’t score as high as you had hoped or still have questions? The skilled attorneys at Bach & Jacobs have a great deal of experience when it comes to Estate Planning. For assistance regarding these matters, contact our office at (941) 906-1231 to schedule an appointment with one of our attorneys.

December 19, 2017
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How Pets Can Help Alzheimer’s Patients

By HealthNo Comments

While pets bring companionship, fun and love into any individual’s life, they can be extremely beneficial to a person battling Alzheimer’s disease. The presence of a pet can help reduce anxiety, agitation, irritability, depression and loneliness in an Alzheimer’s patient, while also helping them become more socially interactive. Pets such as dogs can also increase the motivation for an Alzheimer’s patient to exercise, as dogs need to be walked and taken-out regularly. Additionally, if Alzheimer’s is fairly advanced in an individual, a service animal can be very beneficial and can help them complete everyday tasks that they would be unable to perform on their own. Additionally, pets have been linked to health benefits such as lowering blood pressure, reducing heart rate, decreasing levels of cortisol (the stress-hormone), and boosting level of serotonin (the mood-boosting hormone).

December 15, 2017
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When Can I Contest a Will?

By Estate Planning, ProbateNo Comments

Florida law gives individuals the power to contest Wills in the cases of fraud, mental incapacity or undue influence. In Florida, you can challenge a Will within the statute of limitations before the probate is complete. Additionally, if the Will has not yet been submitted to the court, you may challenge it. If the Will has been admitted to probate court and you have been notified of the submission and probate administration, then you have three months to file paperwork challenging the Will. However, if you did not receive the notice, then you may file after more than three months have passed as long as the probate process has not been completed.

You are allowed to file a Will contest in Florida if you have evidence that the will is not representative of the decedent’s wishes. You are also able to contest a Will if you have proof of undue influence, incapacity, or fraud.  Incapacity refers to a situation in which an individual did not have the mental capacity to understand the document they were signing, and undue influence refers to a situation in which the decedent was coerced or otherwise pressured into signing the Will.

For assistance regarding these matters, contact our office at 941- 906-1231 to schedule an appointment with one of our attorneys.

 

December 12, 2017
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Lifetime and Estate Planning – A Seminar by Experts

By Estate Planning, Firm NewsNo Comments

Babette Bach and Fred Jacobs will be speaking at a Heritage Oaks event, “Lifetime and Estate Planning – A Seminar by Experts”, being held at their clubhouse on January 15th, 2018 at 2:00pm. The attorneys will cover a variety of topics and give some insights into preservation of assets and estate planning for Florida residents. The event is presented by the Heritage Oaks Lifelong Enrichment Committee. Please contact the club for more information: 941-926-7602.

December 7, 2017
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What are the Differences Between Homecare, Assisted Living Communities and Nursing Homes?

By Long-Term CareNo Comments

As a senior citizen, you may find yourself searching for a care program that can give you or your loved one some extra help, but are still uncertain which level of care is right. To help eliminate confusion, it is important to know the differences between the major types of care facilities for elderly people and have information regarding the services they provide. On that note, we will be discussing the differences between Homecare, Assisted Living Communities and Nursing Homes so that you will be able to make an informed decision on which type of care is or will be most beneficial.

Home Health Care is a way to dip your toe in the water, so to speak, if you need care and assistance but would prefer not to move-in to an assisted-living facility or nursing home. As the name suggests, Home Health Care is provided in your residence by licensed, or even unlicensed, workers or family members. Usually, you will be required to pay for home health care yourself, but Medicare and Medicaid may reimburse certain types of “medically necessary” services if you are eligible and qualify. Home Health Care professionals can assist you in a variety of everyday activities, including but not limited to: shopping, cooking, cleaning, laundry, bathing, personal grooming and pet care.

Assisted Living Communities are designed for senior citizens who do not require an intensive level of care, as is provided in nursing homes, but are still unable to live independently. In these communities, residents generally live in private apartments and are offered meals that are provided in a central dining room. In places such as these, residents are able to receive assistance, as needed, with matters such as: taking medications, housekeeping and a variety of other everyday activities. Most of these facilities are paid for privately, although some allow Medicaid to cover a portion of the costs.

Nursing Homes provide constant skilled care for seniors who require higher levels of assistance. Licensed nurses work in these facilities and provide their services to residents twenty-four hours a day. A lot of nursing homes will provide short-term services for individuals that need assistance recovering from a severe injury or illness as well. The long-term residents, however, usually have complex medical conditions or need around-the-clock care due to disorders that are physically or mentally debilitating. Nursing homes may be the right choice if an individual has a condition such as Alzheimer’s or Dementia, or if they have any illness that renders them incapable of completing everyday activities.

November 28, 2017
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How to Choose a Personal Representative for Your Estate: Duties of the Personal Representative

By Estate PlanningNo Comments

A Personal Representative of a Will is the individual who is appointed to administer your estate and carry-out the wishes set forth by you in your Will. This is one of the most important decisions that you will make when preparing your Will, so it should not be taken lightly.  The responsibilities of a Personal Representative include, but are not limited to: filing court papers to start the probate process, taking inventory of your estate, preparing/filing final income tax returns, distributing assets to your beneficiaries and, ultimately, notifying banks and government agencies of your passing as well as using your estate funds to pay bills.

October 31, 2017
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What is a Special Needs Trust?

By Estate PlanningNo Comments

Do you have a loved one who is disabled or has special needs? If so, then a special needs trust (also known as a supplemental needs trust) may be the right option for you and your family. A special needs trust provides your disabled loved one with financial support and is designed to supplement the benefits that a disabled person may receive from government programs. A special needs trust is used so that an individual can still qualify for and receive medical benefits and supplemental security income, without the assets in the trust being calculated as a part of their income when it comes to determining eligibility for benefits from government programs.

If you have further inquiries regarding this matter, please contact our office at: 941-906-1231 to schedule an appointment with one of our attorneys.

October 27, 2017
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