Blogs

COVID-19: An Update On How We Are Serving Clients

April 3, 2020 Due to the rapidly changing COVID-19 environment, we want to update you on the new policies we have in place to serve our clients: Our office team is still fully operational, however, we have changed how we are conducting business. Our office is now closed to walk-in traffic, and we have suspended […]

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COVID-19: How We’re Addressing the Challenge

March 17, 2020 During these challenging times, we want to let you know that all of us at the Elder Law Firm of Clements & Wallace, P.L. are doing our part to provide a safe and healthy environment for our clients and employees. Information, as it relates to COVID-19, is changing daily. At this time, […]

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Beneficiary Designation for IRA, 401K and Other “Qualified Retirement” Funds

Too often we have clients who have “rubber-stamped” the designation of a spouse or children as the beneficiary of the client’s IRA, 401k or other account-holding “qualified retirement funds”. Often times this “legal advice” has come through the suggestion of a financial planner, banker or even a well-intended friend or relative. Many times, the client’s […]

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Help for Veterans with Below Poverty Level Income

The Florida Legislature approved $500,000 in funding to staff and launch a statewide Veterans Legal Helpline Project. The Florida Department of Veterans Affairs has partnered with Bay Area Legal Services to lead the initiative, which is now underway. To be eligible for the services a Veteran must have very low income. The Legal Services Corporation […]

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Benefits of Providing Toys for People with Dementia

Anyone who has cared for or has a loved one with dementia would most likely be familiar with the anxiety or agitation that seniors with dementia often show. Those with dementia are often frustrated that their minds may not be as sharp as they used to be and their mental abilities are lacking, whether they […]

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ABLE Accounts – Saving for Future Qualified Disability Expenses

There is a relatively new planning technique in Florida that allows persons who were disabled before age 26 to save for future qualified disability expenses. These savings accounts are called ABLE Accounts. It all started in December 2014 when The Stephen Beck, Jr. Achieving a Better Life Experience (ABLE) Act was enacted by Congress. The […]

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QDRO for Married Couples without Divorce: Pay Less Taxes/Other Benefits Part 2

A few weeks ago, we introduced a novel planning concept; the marital “Qualified Domestic Relations Order” (QDRO). Most people associate a QDRO with divorce, but divorce is not required to take advantage of this planning technique. The ERISA laws made an exception for early withdrawal penalties with the QDRO. As we know, an ERISA type […]

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Elimination of Medicaid Retroactive Eligibility

Effective February 1, 2019, persons seeking Medicaid benefits to cover the cost of long-term care in a skilled nursing facility can no longer qualify for up to three months of retroactive benefits.  Prior to the change, an application could be filed in one month, and for each previous month the patient met all the Medicaid […]

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Changes to Medicare Advantage Open Enrollment Period in 2019

If you are on a Medicare Advantage Plan (Part C),  changes in federal regulations give you more time to switch Medicare plans beginning in 2019.   The previous Medicare Advantage Disenrollment Period, from January 1 – February 14 each year, is now replaced with the new Medicare Advantage Open Enrollment Period.   What you can do. […]

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QDRO for Married Couples without Divorce: Pay Less Taxes/Other Benefits

We will begin a series of blogs dealing with an innovative retirement planning concept for married couples over the next several months. Be on the lookout for information related to a QDRO for married couples. This can be an effective method of deferring tax liability, gaining control over investments, accessing retirement plan funds to pay […]

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