People often think that placing their assets into a trust for their own benefit in Florida makes the assets inaccessible to creditors, taxing authorities and nursing homes, but that is not true. A self-settled trust in Florida, whether revocable or irrevocable, does not remove the assets from access by one’s creditors, Medicaid qualification rules or […]
Upon divorce, a marital settlement agreement states how joint assets shall be distributed. However, in the event of death prior to changing the beneficiary designation, it is important to know how assetswill be distributed. Prior to 2012, absent a marital settlement agreement specifying a beneficiary of the asset, the courts only had to look at […]
People frequently want to transfer all or part of their accounts or real estate to their children, relatives, or others. Generally, they wish to plan for Medicaid benefits, avoid probate, or avoid taxes.Often, such transfers are mistakes. We frequently hear from people who want to reverse a transfer, only to find out it is not […]
On March 29, 2015, a DeLand man fell, hitting his head on the concrete, after climbing down from his attic. He has been in a coma since the accident. Now, the family is battling in court over his right to die and his right to stay alive by artificial means. We presume that he did […]
As most know by now, Prince died on April 21, 2016. According to news reports, Prince did not leave a will or trust. Therefore, the law of the state where he died will determine who receives his assets. According to Forbes.com, “Under Minnesota law, when someone dies without a will, and with no spouse, children […]
Many people worry about what will happen to their pets after they die. You cannot leave money directly to your pet as a beneficiary. You can leave money outright to a person for the benefit of the pet, but there is another solution. You can create a trust to provide funding for pets’ maintenance and […]
Trusts are confusing, because they have so many names and purposes. The word “trust” basically means to trust somebody to hold assets.
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