When a person dies their assets generally transfer to a new owner in one of four ways as follows: Joint Owner with Survivorship Rights; Payable-On-Death/Transfer-On-Death/Beneficiary Designation (“Beneficiary Designation”); via Probate; or via a transfer to a Trust.
About Kevin Albaum
Kevin Albaum was born and raised in Tarpon Springs, Florida. He grew up spending a lot of time on the water either boating, fishing, wakeboarding, or jetskiing. Kevin earned his bachelor’s degree at Florida State University where he competed for FSU’s mock trial team across the country. Immediately upon graduation, he enrolled at Stetson University’s College of Law in Gulfport, Florida due to their specialty program in elder law and his passion for that specific field of the law.
Kevin moved to Lakeland, Florida to join Clark, Campbell, Lancaster, and Munson where he practices in the areas of: elder law, guardianship, estate planning, trust administration, and Medicaid. Since moving to Lakeland, he has become involved with the Alzheimer’s Association Walk Committee, EMERGE Lakeland, and VISTE.
Entries by Kevin Albaum
A well-crafted estate plan will require a person to appoint individuals or financial institutions to represent them in the event they: need assistance with their affairs during their lifetime, lose capacity, or after death.
Effective, January 1, 2020, adult Florida residents will legally be allowed to execute an electronic last will and testament (a “Will”) to dispose of their property when they die.
Probate is the legal process through which a deceased person’s debts are paid and assets are distributed to their heirs or designated beneficiaries via a court process.
Without proper planning, leaving an inheritance (or making a gift) to a disabled family member can cause the disabled person to lose their means-based government benefits such as Supplemental Security Income (“SSI”) and/or Medicaid. SSI is a federal government program that pays monthly cash ($771.00 maximum per month in 2019) to blind or disabled adults and children.
By: Kevin R. Albaum, Esq.Clark, Campbell, Lancaster & Munson, P.A. Medicaid is a joint federal and state health insurance program that will help many people with limited income and resources pay for their health care. For those with disabilities or illness and no funds available to pay for care, Medicaid health insurance is often the […]
A person’s transition to a skilled nursing facility (a/k/a “Nursing Home”) is often a very difficult time for a family. Not only is the person’s physical or mental health often declining but the person and/or their family is often burdened with figuring out how to pay for the facility.
The Tax Cuts and Jobs Act of 2017 (“TCJA”) lowered tax rates for businesses. However, certain business deductions of the past were eliminated as well. This article will address entertainment expenses and business meals under TCJA.
The term “Undue Influence” is a legal cause of action that can be brought in court when it is believed that a deceased person’s Last Will and Testament (trust, deed, beneficiary designation, etc.) was the product of another person’s over-persuasion, duress, force, coercion… to such a degree that the person who signed the document did not use their own free will power in executing the document.
Medicare is government health insurance that is administered by the Centers for Medicare and Medicaid Services (“CMS”). As a general rule, anyone is who is sixty-five (65) years old and is either a U.S. citizen or a permanent resident (who has lived in the United States at least 5 years) may receive Medicare health insurance coverage.