Under Florida law, “homestead” is defined as a half acre in a municipality and 60 acres in an unincorporated area. For Medicaid purposes the primary residence is known as the "homestead" and is an exempt asset (does not effect eligibility for Medicaid) so long as it is occupied by the applicant, the applicant's spouse or the applicant's minor, disabled or blind child. If you are single, up to $552,000.00 of equity in your homestead is exempt. The rest of the homestead equity
A spendthrift is a person who spends money in an extravagant, irresponsible way. Do you have a spendthrift in your family? Fortunately for you, Florida law allows you the ability to create a spendthrift trust. This type of trust is one set up by the creator (you) for the benefit of a third party (i.e., a spendthrift child). A full discretionary trust gives the independent trustee complete discretion over distributions and prohibits the beneficiary from compelling a distribut
Probate is the process of settling the estate of a deceased person who owned assets in their individual name when they died. Probate has the following primary functions: It verifies the validity of your will. It inventories and establishes the value of your significant assets. It provides your creditors with the opportunity to make claims against your estate. It gives disgruntled family members a forum for challenging your will When the foregoing steps have been completed,
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