On January 29, 2008, voters passed Amendment No.1 which significantly changes our property tax exemptions. The Amendment provides tax relief in a number of ways. Double Homestead Exemption The previous $25,000 exemption will now be $50,000 for all homesteads valued...
What is a Personal Service Contract? When an elder is either already in a nursing home or will need long term care in the near future, the Personal Service Contract (“Contract”) is a planning tool to preserve a lump sum of the elder’s assets in exchange for personal...
Perhaps a better question to ask is “Does the state you left still consider you a resident there?” Florida is considered a tax-friendly state. Many people wish to avoid the state income, gift, inheritance, capital gains, or estate taxation imposed by their...
Medicaid News What is a Qualified Income Trust (QIT)? A QIT is sometimes referred to as a Medicaid Income Trust or a Miller Trust. It is a legal document which allows individuals who are over the state-imposed income cap to qualify for Medicaid’s institutionalized...
Long-term care encompasses a wide range of services relating to medical, personal and social needs. Long-term care services may include help with activities of daily living in the home, in a nursing home, assisted living facility, adult day care and hospice care....
