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Estate Planning

Category: Estate Planning

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Your Guide On Managing Estate Assets

The probate process is used when loved ones die and they do not leave behind a will. Their assets are not immediately given out and their debts aren’t immediately paid off. Probate can last for years, and it can be a very costly and time-consuming process. It can be difficult to manage loved ones’ assets alone or even try to manage your own assets. Fortunately, there are resources available in assisting in the legal aspects. Attorney Aubrey Harry Ducker Jr. is offering this short guide on managing estate assets and how to get started.

What Is Probate and Probate Administration?

Most people have assets and debts at the time of their death. An individual’s “estate” are the assets and liabilities that they have. Every US state has its own set of laws governing what to do with the estate. During probate, the decedent’s debts must be paid off, as well as any taxes they owe. Probate is used when the decedent did not leave behind a trust. Probate is typically a simple and straightforward process. However, there are circumstances where family members are able to dispute the validity of a will or object to the family member’s state of mind. When disputes occur, they need to be handled in a professional manner by an experienced attorney.

Terms Related to The Probate Process

  1.  Will – A will determines where your assets will be distributed. Your assets include possessions such as your home, car, bank accounts, or personal possessions.
  2.  Living Will – This is also known as an “advance directive”. It provides guidance to the individual making medical decisions about what you would want to certain situations. For instance, under what circumstances would you want to be kept alive with a ventilator or a feeding tube.
  3.  Trust – A living trust allows you to pass on assets without going through the public probate process and allows someone else to manage your assets if you become incapacitated. You are your own trustee, but you can also appoint a successor trustee to take over if needed.
  4.  Administrator – The individual who is charged with disposing of a deceased’s estate if that person died without a will.
  5.  Estate Taxes – These are taxes that the government levies in the process of property transferred after death
  6.  Executor – The Individual who ensures that the estate is disposed of according to the decedent’s wishes. When you create a will, an individual will need to choose someone to carry out their wishes. Most of the time, an estate can be handled by a friend or relative with the help of an estate lawyer.

What is a living will and why is it necessary? Attorney Aubrey Harry Ducker Jr. shares his knowledge of elder law.

Probate Administration

The process of probate begins by filing a will in probate court. If there are no disputes or objectification to the will, the named executor or personal representative will pay the debts of the estate and distribute leftover assets to any beneficiaries. Probate can take up between 3-8% of the total assets left behind in a will (excluding taxes). An experienced attorney will help to reduce of costs of probate in court. An attorney who specializes in probate administration can help resolve disputes or conflicts that may arise during the process.

Should I add my family member’s names on my assets and avoid a will? Attorney Aubrey Harry Ducker Jr. offers his perspective.

Accounts for Managing Assets

Having an account is beneficial for managing assets and it’s recommended that you open an account in the name of an estate or trust. A basic checking account can be enough to get you through the probate process. If the trust has to be managed over the long term, it is recommended that an account is set up to handle both investments and cash. This account will contain all the fund’s from the decedent’s bank accounts and income created by estate assets.
Managing A Decedent’s Assets

  1.  Home or Vacation Home – when managing a decedent’s real estate, it is advised that security measures are taken to protect the property if it is vacant. You will also need to keep up with maintenance, home owner’s insurance, and mortgage payments
  2.  Vehicles – the decedent’s vehicles must be managed including loan payments and handling regular maintenance.
  3.  Money and Investments – When a bank account is opened for the estate, any of the existing decedent’s bank accounts should be closed and the remainder of the funds should be transferred to the new account. Any stray cash should be placed in a sealed envelope and placed in a safe place.

Spending Down Assets

In order to apply for coverage, Medicaid has strict rules that require applicants to “spend down” their assets before they qualify for coverage. Individuals must be conscientious of what they spend money on. To be eligible for Medicaid, applicants must have no more than $2000 “countable assets”. A Medicaid applicant is able to spend money on the following:

  1. Prepaying funeral expenses
  2. Making repairs to a home
  3. Paying off a mortgage, car loan, or credit card debts
  4.  Pay for medical care and equipment
  5.  Pay for more care at home

What are some permissible ways to spend down my assets? In Medicaid planning, “spending down” assets are important. Working With An Attorney On Managing Estate Assets Estate planning is a serious business. One wrong word or missing signature can the intent and power of a will or trust.

An Attorney who specializes in probate or estate planning can assist in sorting out complex legal documents or matters. Your attorney can also sort out any family conflicts or objectification that may arise. Most importantly, estate planning attorneys understand the state law, which dictates estate plans. If you or a loved one are not familiar with Florida state laws, it could be difficult to navigate on your own.

Orlando Estate Law Attorney Aubrey Harry Ducker Jr.

We understand how simple estate planning mistakes or omissions can quickly turn into a disaster, resulting in litigation or probate. Aiming to help our clients avoid common estate planning errors. Thus protecting their assets. Affecting the efficient transfer of assets to the intended beneficiaries.

If you are dealing with any type of family law case, contact Attorney Aubrey Harry Ducker Jr. to discuss how our attorneys can help you with your Trust Administration & Litigation, Probate Administration & Litigation, and Collaborative Divorce case. Call us at (407) 647-7887 or send us a message. Also, you can visit the offices of Attorney Aubrey Ducker Jr. Aubrey Ducker Jr. serves Orlando and surrounding areas.

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Do You Need A Probate Attorney In Orlando?

Do You Need A Probate Attorney In Orlando?

When a loved one passes away, it is an emotional process for everyone involved. Then, there is the issue of how their assets and will are managed after their death. A probate attorney in Orlando will be able to navigate issues with wills and resolve issues with family members.

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Commonly asked questions on Probate Litigation

Commonly asked questions on Probate Litigation

What Are Probate And Administrative Litigation, How Can It Help You

Probate Litigation is a process that deals with the estate of a loved one who has passed away. It is not the easiest thing in the world. This process can seem very tiring and overwhelming. So, in this blog, we will help you get a few of your questions answered. When residents or property owners pass away, their death sets into motion a legal process known as probate. Through probate, a deceased person’s assets are distributed to the heirs of his or her estate under court supervision. Probate also involves paying a decedent’s outstanding taxes and debts.

Types Of Probate

First off, its best to know everything about the situation at hand. There are multiple types of probate. Depending on certain circumstances, the Probate process can be simple and easy or can be exceptionally long.

The probate process can be differentiated in the following ways:

Probate vs. non-probate assets: Only those assets that were solely owned by the decedent at the time of death must go through Florida probate administration. Any assets that are jointly owned or have a designated beneficiary are not subject to probate administration.

Summary vs. formal administration: When an estate is worth $75,000 or less, or the decedent has been dead for more than 2 years, the estate will qualify for abbreviated probate known as summary administration. The estates that don’t qualify for summary administration undergo regular probate or formal administration.

Domiciliary probate vs. ancillary probate: Domiciliary probate is the probate of assets that are in Florida and owned by a decedent who was a Florida resident. Ancillary probate is probate of assets that are in Florida but owned by a decedent who was not a Florida resident.

A simple estate with a clear, uncontested can go through the probate process in just a matter of a few weeks. But there are multiple issues that can complicate probates. These include the lack of a will, a challenge to the will’s validity or meaning, creditor claims, or a surviving spouse’s rights.

What Are The Rights Of Surviving Spouses?

Surviving spouses are normally entitled to a share of their deceased spouse’s estate. Even if he or she is not explicitly provided for in the will.

A spouse may be disinherited if the will was made prior to the couple marrying. However, as long as the will was made while the couple was married, the surviving spouse may receive:

  • An elective share (usually 30%) of the decedent’s estate
  • A life interest in the couple’s primary residence
  • A family allowance up to $18,000
  • Surviving spouses who do not receive their fair Florida Elective Share should consult a probate lawyer.

How Does Probate Work?

Probate begins when the person named in the will as estate administrator presents the will to the probate court. If there is no will, the court appoints someone as an estate administrator, typically the decedent’s spouse or adult child.

Once the will is admitted to probate, the personal representative takes an inventory of estate assets. These include property, stocks and bonds, and business interests. Then, they place them in an estate account. The representative also notifies creditors of the estate and beneficiaries who may inherit estate assets.

Legitimate creditor claims and other estate bills, such as funeral expenses and taxes, are paid from the estate. If the representative thinks certain creditor claims are not legitimate, those claims can be disputed.

After the estate’s debt obligations are satisfied, remaining assets are distributed to beneficiaries according to the decedent’s will. What if there is no will? Florida law determines how assets are passed on.

Does Having A Will Avoid Probate?

In a Will, the deceased person selects a person known as the Executor or Personal Representative to handle their matters after they die. A Will also can include specific devices (the left of an item to someone) of miscellaneous assets, make special requests for the handling of minors, animals, and/or those with special needs.

How Long Does The Probate Process Last?

The length of time a ‘Probate’ will take depends on the number of assets and debts in the Estate. Also, the time can vary based on whether there is a Will, whether the beneficiaries can be easily located and whether there will be any dispute as to the validity of the Will or disagreements about the distributions. There are three types of administrations (Disposition without Administration, Summary Administration, and Full Administration). The type of administration depends on the size/value of the Estate, whether the deceased person had any debts and how long it has been since the person passed away.

What are the Rights of Surviving Spouses?

Surviving spouses in Florida are typically entitled to a share of their deceased spouse’s estate—even if he or she is not explicitly provided for in the will. A spouse may be disinherited if the will was made prior to the couple marrying, but as long as the will was made while the couple was married, the surviving spouse may receive:

  • An elective share (usually 30%) of the decedent’s estate
  • A life interest in the couple’s primary residence
  • A family allowance up to $18,000
  • Surviving spouses who do not receive their fair Florida Elective Share should consult a probate lawyer.

Types of Probate

The probate process can be differentiated in the following ways:

Probate vs. non-probate assets: Only those assets that were solely owned by the decedent at the time of death must go through Florida probate administration. Any assets that are jointly owned or have a designated beneficiary are not subject to probate administration.

Summary vs. formal administration: When an estate is worth $75,000 or less, or the decedent has been dead for more than 2 years, the Florida estate qualifies for abbreviated probate known as summary administration. Florida estates that do not qualify for summary administration undergo regular probate or formal administration.

Domiciliary probate vs. ancillary probate: Domiciliary probate is the probate of assets that are in Florida and owned by a decedent who was a Florida resident. Ancillary probate is the probate of assets that are in Florida but owned by a decedent who was not a Florida resident.

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Trust Administration and how can it help you?

What is Trust Administration and how can it help you?

When a loved one passes and they have a trust, the process of Trust Administration will need to be undertaken. Many attorneys make trust administration sound straightforward at the time their client signs the trust contract without describing completely what will have to be done upon their death. This is problematic as the client also rarely addresses risk policy with the designated Trustee.

Trustees

The person or persons who will act as Trustees ought to consider what will happen to the person who creates the trust at the time of death. Over the years, our perception has been that clients often have unrealistic expectations of how their trust will work when there is a loss. Clients often believe the trust doesn’t need any more care and it will happen “automatically,” or they don’t know they’re going to need an attorney’s and CPA’s support in administering the trust. These are common misunderstandings. There are administrative responsibilities and costs related to trust administration that must be acknowledged by families and trustees.

One of the most common misunderstandings arises where a husband and a wife have a joint trust and the trust provisions call for the trust to be broken into sub-trusts (most commonly between a Survivor’s Trust and a Bypass Trust). The most frequent reasons for providing this type of trust are succession tax benefits, surviving spouse’s wealth security and divorce-remarriage insurance for the first half of the estate to die.

Escaping Probate

What’s important to note is that by creating a trust, the person or couple setting up the trust can escape probate (provided the trust is adequately funded) and as a by-product of the estate plan, inheritance tax benefits will result. The method closely resembles probate. It is almost the same; there are just a few small variations including, not having to wait to go through the process, daily or in front of a court.

The three-step process of acquiring asset ownership, settling the assets and providing accounting and delivery can be completed at whatever rate the trustee may have. If properties are quickly liquidated, a trust can be settled in a matter of a month or two. While probate can rarely be done in less than a year and typically takes between 18 and 24 months.

How Long Does the Initial Trust Administration Take?

It can take anywhere from two to typically about six months.

Can Someone Handle Trust Administration Without Legal Counsel?

Likely not. However, it’s not a complicated process. There are different notices that need to be issued. Also, there are different procedures that need to be followed for selling properties, and they’d know how to do it. It’s not hard but they need help.

Living Trusts

A living trust is an alternative that can be very appealing for estate planning. You transfer the funds into the trust as the grantor. During your lifespan, the trust retains the money. Upon your passing, the estate will be allocated to the beneficiaries according to the wishes and on whatever timeline you want.

In your lifespan, the trust is the guardian of your properties. You will be the trustee —the guardian of the assets — with a living trust and still have the right to make whatever improvements you wish to the trust. You may transfer money in or out of it–or even fully cancel the trust. Living trusts are a common option because, as in a will, upon death, the trust’s properties will not have to go to probate.

Ownership of Trust Assets

After you have built a living trust, you will transfer the money into the trust. To do so, we need to change the legal ownership of the properties. For example, if you want to place your home in the trust, you have to make a new deed for the trust as a homeowner. The transactions must be duly performed and registered with the local registrar. Usually, costs involved with filing are not included in the expense of a living trust. You will then shift ownership of all other properties held in the trust such as savings accounts, houses, and shares.

Further Information About Trusts and Trust Administration

Another reason you might like an attorney assisting the trustee is to protect the trustee from litigation. Attorneys understand what sorts of notices to give to beneficiaries and what sorts of consents to receive from them. It comes up in the line that would allow the attorney to be found responsible. Getting them in trouble trying to carry it through. Getting an attorney’s help will, therefore, be invaluable in this way. This is because either of the beneficiaries hires their own counsel to assist them. Which is not a terrible idea, because it would be much easier to let those two lawyers work with each other. Instead of having a trustee that is inexperienced attempting to deal with one lawyer from the other side.

Aubrey Law

For more information on Trust Administration in Orlando Florida, Contact Lawyer Aubrey Harry Ducker Jr., Lawyer, and Counselor. Our lawyers handle all legal representations ranging from family law to elder law. Call us at (407) 647-7887 or give us a message. Visit the office of Attorney Aubrey Ducker Jr. Aubrey Ducker Jr. serves and surrounds Altamonte Springs, Longwood, Maitland, Orlando, Oviedo, Winter Garden, Winter Park, and Winter Springs.
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Best Divorce Attorney in Orlando

Best Divorce Attorney in Orlando

The Best Divorce Attorney in Orlando is Aubrey Law! Life can be filled with many tough situations that test the strength of your character. Divorce being one of those main situations. Divorce is not only hard on the people going through it but also the families of the divorcees. divorce affects your family and children on many levels. But here at Aubrey Law, we know how to handle these difficult situations, and assist everyone involved and affected through these tough circumstances to find a viable solution for everyone. Aubrey Law does this in an easy, and stress-free way. We are proud to know how to take care of the needs of the family. Attorney Aubrey Law gives you all the attention, care, and assistance you need. This is why he is the Best Divorce Attorney in Orlando.

About Aubrey Harry Ducker Jr.

Professional Attorney Aubrey Harry Ducker Jr. provides you with professional legal advice and has been able to provide clients with the results they need for many years. Attorney Aubrey Ducker helps you get through all your family’s legal issues as quickly and painlessly as possible. Advanced in problem-solving techniques, Aubrey Harry Ducker Jr. can help you solve your family law cases with ease. Attorney Aubrey Harry Ducker Jr. can find ways to help both parties come to a healthy and agreeable conclusion. Wondering how long does the process takes? Well, let’s take a further look at the divorce process.

Divorce Process and Proceedings

The divorce process begins with one party (the petitioner) filing a divorce or a complaint. The motion for divorce lays out the grounds for divorce and officially demands a divorce. The petitioner must then forward to the opposing party (the respondent) the petition for divorce and its accompanying documents. The respondent must now give a reply (response to the petition for divorce) to the petitioner within 20 days of receipt of the petition for divorce.

The Discovery Process

Discovery is a process in which each party to a case obtains facts from the other party through the rules of civil procedure. In the case of Florida divorce, the initial discovery must be shared at the end of the proceedings. It must be within 45 days from the date of petition of the divorce or lawsuit petition. This initial discovery is called the Mandatory Discovery. Formal discovery can take place after Mandatory Discovery. Discovery may take the form of interrogatories, production requests, requests for admission and depositions.

Alternatives to Trial Process

Once a divorce has been filed, there are usually two options for a divorce to become final. If the parties are able to agree on the terms of the divorce, the parties can decide to sign a settlement agreement and ask the court to sign the agreement. If the parties are unable to settle the matter, the case will be ​brought to trial and the judge will decide on the issues for the parties. It should be noted that there are alternatives to waiting for the trial and costs associated with the preparation of the trial.

Trial Proceedings

If the parties are unable to agree on the terms of their divorce, then the last remaining option is a trial. This is also known as the final hearing. This would be after discussions and mediation. Before the trial, you will need to attend a pre-trial conference setting out the ground rules for the case.

Alternative Options to Divorce

Now Aubrey Law understands that maybe the solution for your family might not be a Divorce. Maybe your circumstance needs another solution like a collaborative divorce or mediation. One of these alternative solutions is traditional courtroom litigation, which can be stressful and expensive. Another is collaborative divorce, a process in which a couple work together to determine whether to settle a divorce with little or no outside intervention.

Mediation

The third option is mediation. Mediation is similar to joint divorce, in that it eliminates the stress and costs of the trial. But instead of negotiating their settlement terms solely on their own, couples who divorce by mediation reach out to them through a series of negotiations mediated by a neutral third party known as a mediator. There are many reasons why couples chose mediation over a conventional divorce court. Mediation is a form of alternative dispute resolution (ADR) that, like joint divorce, allows a couple to work together to negotiate their own divorce settlement instead of making the court decide on their problems.

Is Mediation Right For you?

To determine whether mediation is the right choice for you and your partner, consider the potential benefits as set out more clearly below. Your professional divorce lawyer will take in to account the decision to help you make the right choice. In certain cases, you may even be forced to seek counseling before you are able to litigate a divorce–the courts have the power to request a divorce from a couple.

If mediation was ordered by the Court or on a voluntary basis, inform yourself about the procedure and its benefits before you start working with a divorce mediator. It’s less costly than the proceedings of your divorce cost savings are one of the primary benefits of mediation in divorce proceedings. Simply put, divorce is difficult in court. A complete divorce case will cost thousands of dollars in litigation.

Mediation can be easier because it removes certain things that push a couple’s divorce bill up, such as investigation, deposition, jury planning, and court hearings. So you maintain greater control over the divorce process. Another benefit of mediation is that it enables you to be in control of your divorce settlement. With mediation, the couple works with a mediator (and in some situations their attorneys), and a neutral third party, to reach agreements for their settlement through a series of guided discussions.

The mediator does not make decisions for the couple. Rather, he or she tells them about their rights and their options regarding each component of their divorce settlement and provides guidance when questions arise as they work toward arrangements that suit their needs.

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Sandwich Generation Seminar on Estate Planning

Seminar on Estate Planning

Sandwich Generation Seminar about Estate Planning presented by Attorney Aubrey Ducker, Esq., Attorney Hallie Zobel, Esq., and Attorney T. Scott Tufts, Esq., REGISTER NOW! – Limited seating.

 

Monday, February 17, 2020 at 4:45 PM – 6:30 PM
CPLS, P.A. – 201 E Pine St, Ste 445, Orlando, Florida 32801

 

About Aubrey Harry Ducker Jr.

Aubrey Harry Ducker Jr. is a Family Law Attorney in Orlando, FL. He will be speaking in the seminar on estate planning. Attorney Aubrey Harry Ducker Jr. has had years of accomplishments in the legal field. He has taken an interest in elder law after caring for his own grandmother and parents-in-law. Mr. Ducker has first-hand experience in dealing with the stresses and anxieties that accompany deciding how to live the rest of one’s “golden years”.  Attorney Aubrey Harry Ducker Jr. knows that adult children have to deal with this rite of passage. This involves specific stresses when making decisions for a parent or parents incapacitated by serious illnesses.
As a Family Law Attorney, Aubrey Harry Ducker Jr. takes pride in conflict prevention approach and conflict resolution approach to family law and senior law cases.  Aubrey Harry Ducker Jr. treats every one of his clients with respect and kindness. Attorney Aubrey Harry Ducker Jr. values meeting new clients. Aubrey Harry Ducker Jr. utilize his experience to direct them through various family law and senior law matters.

About CPLS, P.A.

Founded in 1996, CPLS, P.A. is a full-service law firm that offers a broad range of legal services to individuals, small businesses, and multi-national corporations. It’s firm represents clients in Florida, throughout the United States, the Caribbean, and Latin America.
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Aubrey Law: Best Family Law Attorney in Orlando!

Aubrey Law: Best Family Law Attorney in Orlando!

Aubrey Law is the best Family Law Attorney in Orlando! There are so many hard and difficult situations you go through in this world and in your life. Divorce and family law being among these situations.  Divorce and Family Law is not only hard and tough for you, but they are also tough on everyone that’s involved.  Your family, children, and even the other party.  Here at Aubrey Law, we know how to support you, and everyone involved especially through these tough times. Aubrey Law does this in an easy stress-free manner.  We take pride in knowing how to care for the family’s needs. Our Attorney Aubrey Law provides you all the attention and help you need.

About Aubrey Harry Ducker Jr.

Professional Attorney Aubrey Harry Ducker Jr. provides you with professional legal guidance and has been able to provide his clients with the results they need for many years. Attorney Aubrey Ducker helps you to get through all your family legal matters as quickly and painlessly as possible. Advanced in Problem solving techniques, Aubrey Harry Ducker Jr. can help solve your family law cases with ease. Having studied for years Attorney Aubrey Harry Ducker Jr. can find ways to help both parties come to a healthy and agreeable conclusion in any case needing to be provided to you.

Attorney Aubrey Harry Ducker Jr. has had many successes in his years in the legal field. This includes being a member of the Orange County Bar association and of the Association of family and conciliation courts. Martindale-Hubbell has awarded him the highest peer review rating. Aubrey Harry Ducker Jr. takes a lot of pride in knowing how to care for a family’s needs and make sure we can provide you with the healthiest of solutions. Visit www.aubreylaw.com to see even more of Aubrey Harry Ducker Jr.’s many accomplishments!

Location

Aubrey Law’s office is right in the heart of beautiful downtown Orlando. His offices are designed to make you feel comfortable and safe. You can schedule appointments at one of our locations or a location of your choosing. Our offices understand that you enjoy being in the comfort of your homes or any other area that you feel is best and safe for you. After all, we understand the privacy needed to help you go through tough times.

Services

Here at Aubrey Law, we take pride in conflict resolution and in conflict prevention approaches. We love to treat every single one of our clients with the care and respect they need. Since what they’re going through is already stressful. Family Law deals with multiple areas such as child custody, child support, adoption, visitation rights and conflict of marriage.  No matter what family situation you’re going through, Attorney Aubrey Harry Ducker Jr. will be able to help resolve all the conflict involving your situation. With the help of our practical problem- solving techniques.

So, if you are someone who needs guidance through your divorce or Family Law situation, Aubrey Law can help provide you with all the care you need. Here at Aubrey Law our focus is getting you through your situation in a fast nonstressful manner and caring manner. Call us at (407) 647-7887 to schedule an appointment.

 

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Issues to Consider if Medicaid is Part of your Future Care Plan

Many Americans rely on Medicaid, the federal health care program that provides health insurance and other benefits to low income and disabled individuals, to fund part or all of their long term care needs. For these individuals, Medicaid planning is an important part of estate planning. If you are considering using Medicaid to fund your long term care, discuss your plan with your estate planning lawyer. He or she can help you determine if you qualify for Medicaid and educate you about the facts of using Medicaid to fund your care.

Are you Eligible for Medicaid?

First and foremost, you need to determine if you are even eligible to receive Medicaid coverage. The Florida Department of Children and Families determines an individual’s Medicaid eligibility by examining his or her assets and income. In Florida, an individual’s monthly gross income must be $2,205 or less and he or she must own less than $2,000 worth of assets as a single person or $120,900 jointly with a healthy spouse in order to qualify for Medicaid.

Protecting your Assets As you Plan for your Future

Any estate plan should be created to protect the individual’s assets from excessive taxes and penalties. If your assets render you ineligible for Medicaid coverage, work with your lawyer to determine your alternative options. You might opt to purchase an annuity, which converts existing funds to a monthly income source for your spouse who does not receive Medicaid, as a way to keep your money without it disqualifying you from receiving Medicaid coverage for your long term care. Another option is to provide monetary gifts to loved ones, which are not subject to gift taxes as long as you give less than $14,000 per year this way.

Separate the Medicaid Myths from the Facts

Your lawyer can break down any misconceptions you have about Medicaid, such as the myth that it is only for individuals who have no assets. You certainly can qualify for Medicaid if you have assets, and certain assets are not considered when determining your eligibility.

Many individuals also wrongly assume that it is possible to become eligible for Medicaid by transferring one’s assets to his or her loved ones. Although asset transfers can potentially be part of a long-term estate plan, they need to be utilized carefully. When an individual applies for Medicaid coverage, Medicaid representatives examine all of the transactions the individual made in the past five years. If certain assets were transferred without the individual receiving fair compensation, he or she could face penalties.

Work with an Experienced Winter Park Medicaid Planning Lawyer

For help with any aspect of estate planning, whether you are eligible for Medicaid or not, work with an experienced Winter Park estate planning lawyer who can be your advocate through the process. Contact The Law Offices of Aubrey Harry Ducker, Jr., PLLC today to set up your initial consultation in our office, during which we can answer any questions you have and determine any issues that you need to resolve before you move forward in the estate planning process.

Resources:

myflfamilies.com/service-programs/access-florida-food-medical-assistance-cash/medicaid

longtermcare.gov/medicare-medicaid-more/medicaid/medicaid-eligibility/financial-requirements-assets/

Why Should I Work with a Probate Lawyer?

If you find yourself in a position where you need to administer a loved one’s will or take care of other issues regarding his or her assets after his or her death, you can suddenly find yourself facing waves of confusion and a massive headache. Relieve yourself from this stress by taking a step back and working with an experienced probate lawyer. Probate lawyers are lawyers who know how to methodically work through all aspects of the probate process to ensure that the deceased’s wishes are upheld and that his or her loved ones receive the assets they were meant to receive.

Probate is the process of submitting and validating a will to the court. Once a will has been submitted, all assets are transferred to their intended beneficiaries and any debts or taxes associated with the deceased’s estate are paid and settled. Once the process is complete, the estate is “closed.”

A Probate Lawyer Can Save you Money

There are a lot of financial obligations that come up during the probate process, such as debts to be satisfied and taxes to be paid. A probate lawyer can determine which of these are legitimate and which are in error, if any, and make sure that all legitimate issues are resolved. Another reason why working with a lawyer can save you money is that a lawyer can handle the process efficiently. You likely have a full time job and would suffer financially from taking time off to handle the probate process. By outsourcing it to a party who knows how to handle the process, you can save money in the long run.

A Probate Lawyer Can Represent your Case in the Event of a Dispute

Disputes can and do arise regarding estates. Examples of these disputes include:

  • Disputes about the will’s validity, such as questions about the deceased’s mental capacity or whether there was undue influence upon him or her;
  • Issues with the deceased’s creditors; and
  • Disputes regarding the designations within the will.

A Probate Lawyer Can Guide you Through the Process

If you do opt to handle the probate process alone, you can still seek guidance from a lawyer to ensure you stay on the right track. Rather than handing the whole case over to a lawyer, you can save money while still receiving hands-off coaching this way. Talk to an attorney to determine whether this or a more hands-on approach is right for you.

Work with an Experienced Winter Park Probate Lawyer

As the executor of a loved one’s will, you have the responsibility of ensuring that all aspects of the will are addressed properly so the estate can be closed. This can be overwhelming for many individuals, especially those who are not familiar with the probate process. For guidance with the probate process and representation in probate court, work with an experienced probate lawyer. Contact The Law Offices of Aubrey Harry Ducker, Jr., PLLC today to set up your initial legal consultation with our firm.

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