Families and individuals with significant assets will have new opportunities in 2023 to transfer tax-free wealth to their heirs. Your estate planning attorney can provide you with guidance on any gifting you should be doing to take advantage of the…
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There have been changes to two key numbers Florida uses when assessing an applicant’s eligibility for Medicaid nursing home benefits. These changes went into effect July 1, 2022. Minimum Monthly Maintenance Needs Allowance The income of an applicant’s spouse is…
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Oh My God I’m Getting Older And So Is My Mom on July 18 featured Joseph Karp and Jonathan Karp. The father-son lawyer duo had a lively discussion with host Scott Greenberg about some intriguing topics: why some people are…
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Florida Medicaid’s Minimum Monthly Maintenance Needs Allowance, MMMNA for short, increases to $2,288.75 effective July 1, 2022 (up from $2,177.50). This is an important change if you or a loved one apply for Medicaid benefits for nursing home care in…
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Good news if you are a grandparent who owns a 529 account, and for your account beneficiary: Beginning in the 2024-2025 school year, contributions you make to a 529 plan need not be reported on the student’s FAFSA application (Free…
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Effective January 1, 2022, the maximum annual contribution to an ABLE account is $16,000 (up from $15,000). Florida was among the first states in the nation to establish ABLE saving accounts. ABLE is the acronym for “Achieving A Better Life…
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Many Florida seniors and their families incorrectly assume they will not qualify for Florida Medicaid benefits for long-term care because they do not appear to meet all the financial criteria. This post tells tells you how, with guidance from…
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It is a common misconception that you cannot get Medicaid benefits for long-term nursing care until you “spend” down” your nest egg. Depending on your specific circumstances, there are a variety of legal tools that can be employed…
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The eligibility criteria for Florida Medicaid benefits are always changing. Our Florida elder law attorneys stay current with every change. With expert planning from The Karp Kaw Firm’s attorneys, your loved one may qualify for benefits without you having to…
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Many people have misconceptions about the rules for obtaining Florida Medicaid benefits for nursing home costs. This is not surprising, considering that the Medicaid program is vast, and its rules are complex and differ from state to state. Before clients…
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