Spiro J. Verras Blog

Estate planning for those with special needs and those with loved ones who have special needs can be a particularly delicate process. To plan to provide support for someone with special needs requires careful planning due to the fact that he or she may rely on need-based government benefits such as SSI and Medicaid. A gift, inheritance, or any additional income could result in the loss of these benefits.

When thinking about estate planning, you need to consider the unique position and circumstances of your family and loved ones. For instance, do you have a loved one with special needs? You may, of course, want to provide financial support for them. While the intention behind this is great, giving financial gifts or leaving outright inheritances for individuals with special needs may actually end up doing more harm than good.

If you have established an estate plan, been involved in the probate process, or started researching either of these things, you have probably heard of estate administration. Fewer people, however, have heard of trust administration. It is, however, an important thing to be aware of. This is especially true considering there is a common misconception that trusts do not require follow up attention after the settlor of the trust passes on. People tend to think transfers and other trust affairs happen automatically.

It is no secret that times have been tough this year. The public health crisis that is the Covid-19 pandemic persists and, some days, it can feel like there is no end in sight. Older Americans have been one of the toughest groups hit not only be the virus but on collateral impacts of the virus in the form of social distancing measures. Due to the fact that COVID-19 seems to have a much more severe impact on seniors, the older population has, understandably, had to exercise extreme caution over these past few months. Social distancing measures are crucial to staying safe from the virus.

Going through a divorce is such a tumultuous process that many people neglect to amend their estate plan in keeping with their new marital status. This can be a crucial mistake because although we generally assume that this task is not urgent -- you never know. Life is unpredictable and no one can foresee when an accident or health event may change everything, removing your opportunity to alter past decisions by updating pivotal documents. It is a good idea, during divorce negotiations, to get in touch with a

If you have taken the step to develop an estate plan to protect your future and that of your loved ones, congratulations! Having an estate plan can go to great lengths in providing you with peace of mind that you and your family will enjoy certain legal protections in some of the most difficult times life can throw at you. While putting an estate plan in place is a great accomplishment, you must be mindful that your estate plan will only be most effective if it remains current and reflects your most recent life circumstances. In addition to scheduling periodic reviews of your estate plan, there are also certain times that should trigger a review and potential update of your estate plan.

Will a Last Will and Testament help me to avoid probate?

Probate is the process by which the court distributes your assets to your heirs. In the state of Florida, as elsewhere across the country, probate can be a costly and time consuming process. Probate involves both court fees and attorney’s fees, and may tie up your assets for several months or potentially even years as the court works to distribute your assets either in accordance with your will or per the laws of intestacy. Fortunately, with some advance planning, there are ways in which you can avoid probate. A thorough estate plan can allow your assets to pass to your heirs without added expense or unnecessary delays.
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Sad to say, but as we get older, we are not only victimized by increasing physical weakness. We are often targeted by cruel financial scams that attempt to take advantage of our free time, our desire for human interaction, and our inability to keep up with the latest technology. If you feel that you or your elderly loved ones are vulnerable, you are probably right. Fortunately, an Read more . . .

We want the best for our aging loved ones. Sometimes, the level of care needed is beyond what we are able to provide. This is when it is time to make the move to a long term care facility.

Estate planning is perhaps most commonly associated with wills using this type of legal document to memorialize wishes regarding how you want your property distributed when you pass away. Estate planning, however, can go far beyond employing a will to distribute property to your heirs. In fact, many people choose to utilize different types of trust in estate planning.