Consider this scenario: A parent passes away and one of the decedent’s children, a beneficiary of the trust, takes over because he was named trustee of the parent’s trust. His siblings are also beneficiaries. Since no one in the family…
more
Headlines are made when wealthy people leave outsize fortunes to their pets. One notable example is Leona Helmsley, the hotel magnate who passed away in 2007. Cutting out her family, Helmsley left her entire $12 million fortune to her pet…
more
The Fairness in Medicaid Special Needs Trusts Act was signed into law by President Obama on December 13, 2016. Until passage of the legislation, disabled adults who wished to set up a special need trust for their own benefit had…
more
A recent Florida Supreme Court ruling underscores the importance of having a valid power of attorney, as well as the importance of being careful when signing a nursing home agreement for a loved one. Juan Mendez Sr. was admitted to…
more
We frequently remind blog readers of two important planning steps to take: First, get guidance from a Florida Bar Certified Elder Law Attorney when pursuing long-term care Medicaid benefits. Second, make plans to avoid court-ordered guardianship in the event of…
more
If you are over 62 and have equity in your home, a reverse mortgage can be a financial lifesaver. But if you misunderstand what you’re getting into, it can sink your ship. According to a recently concluded Consumer Financial Protection…
more
As we do every year, the Karp Law Firm’s lawyers and staff enjoyed a leisurely holiday luncheon, complete with a champagne toast and a gift exchange with many laughs and surprises. Happy holidays to all! Attorney Joseph Karp, Attorney…
moreThe Karp Law Firm attorneys and staff again participated in the WPTV Channel 5 “Food for Families” drive. This year, we donated a whopping 512 pounds of food! The food was distributed to needy families just before Thanksgiving. Thanks to…
moreOne in five Americans over age 65 has suffered financial abuse, according to the 2010 Investor Trust Elder Fraud Survey. A study from MetLife Mature Market Institute estimates that financial abuse drains $2.9 billion annually from seniors’ pockets. Both numbers…
more
A new rule barring long-term care facilities from including pre-dispute forced arbitration clauses in their admissions contracts will not go into effect on November 28, as originally anticipated. (Discussed the rule in an earlier post. ) In response to a…
more
