What does it cost NOT to have life insurance?

Seniors who require assistance with daily activities and qualify for Medicaid Long-Term Services and Supports often end up on waiting lists to receive home-based care or in community settings. This forces many to live in institutional facilities, isolating them from their communities and incurring significant costs.Benefits of Aging in Place and HCBS ActHowever, the Home and Community-Based Services (HCBS) Access Act, introduced by U.S. Sen. Bob Casey and U.S. Rep. Debbie Dingell, aims to change this by providing better funding and resources for seniors seeking care at home or in their communities. Not only does aging in place offer emotional and physical benefits, but it also saves money.Key Provisions of HCBS Access ActThe HCBS Access Act seeks to provide enhanced Medicaid funding, grant funding for states developing home care capacity, resources to ensure professional caregivers have stable jobs and wages, training for family caregivers, and improved quality evaluation. With the support of sixteen U.S. representatives and advocacy organizations for older adults, this legislation could make a significant change in bridging the gap between institutional and community-based care.Importance of Consulting with an Elder Law AttorneyNavigating Medicaids complex waiver programs can be daunting. Thats why consulting with an elder law attorney, who is well-versed in the subject, can help ease the process. The proposed Better Care Better Jobs Act is looking to provide additional funding to home care workers while also creating new job opportunities in the field. As the demand for long-term care continues to rise alongside life expectancy, this will be a crucial area of focus in the coming years.Investing in Home-Based Care for SeniorsBy investing in home-based care, not only can we support seniors independence and autonomy, but we can also create better job opportunities and support for family caregivers.Advocating for Our SeniorsThe HCBS Access Act and Better Care Better Jobs Act are steps in the right direction and can help improve the lives of senior citizens who need assistance. With adequate funding, training, and resources in place, we can ensure that our seniors have the care they deserve. It is up to us to make sure these initiatives become a reality and that seniors receive the quality care they are entitled toat home or in their communities. We must continue to advocate for our seniors and ensure their needs are met. Many of them have sacrificed for us, and it is time we do the same for them.

Most people at some time give thought to estate planning for the future of their assets and loved ones. But in our modern times, your Digital Estate may not get the attention it deserves. Here, a Wills and Trusts Attorney in Tampa from Mortellaro Law discusses handling your Digital Estate Planning in Florida.What is a Digital Estate?We are surrounded by technology and so it is no surprise that most of our financial affairs are handled through digital mediums. All this electronic information stored on your computer, tablet, smartphone, smart watch, and in the cloud is considered a digital asset and as such, part of your digital estate. These assets may or may not have financial value, but they typically have some sort of value to you, and should be accounted for in your complete estate plan.Think of all the electronic assets you possess and use on a regular basis. Make a tally of them by category so it is easier to keep track of them. This is your Digital Estate.Personal Property | Discusses Handling Digital Estate PlanningList all your personal online accounts on social media, email accounts, personal shopping accounts, photo storage accounts, video sharing accounts, and other ways you interact online. Be sure to include all the usernames and passwords for each account.Property with Monetary ValueList here your accounts that actually hold money, like bank accounts, credit accounts, PayPal, Venmo, Wallet, Samsung Pass, Apple Pay, Google Pay, Cash App, loyalty rewards accounts, online betting accounts, and any other programs or apps that can hold or transfer money. This can also include any bitcoin or other cryptocurrency holdings and NFTs. Again, list the usernames and passwords for each account or app.Business-related PropertyDo you operate an online store like eBay, Etsy, Amazon, or others? These accounts are also part of your digital property. Many may hold real assets like intellectual property you have created (eBooks, drawings, photos, music, etc.) and to which you hold the rights. Include any website domains you hold, blog content with original writing, and online video channels where the content is monetized and produces a profit.It is estimated that the average consumer in the US has around 100 or more online accounts with usernames and passwords! And yet, we often underestimate the value of our digital estate.Managing My Digital Estate Planning with a WillA Will and Trusts Attorney in Tampa can explain how a legal will can help you manage your estate, including your digital estate. All your digital assets and the information required to access them should be recorded in your will. Be sure to include instructions for how you wish these assets to be handled, recorded, donated, liquidated, maintained, or otherwise distributed by your executor.Digital assets with monetary value will be of particular importance, as they will form part of your estate that will be subject to probate. If you hold significant digital assets and do not account for them in your estate planning, this can cause serious problems or setbacks during probate. They may cost your loved ones or other beneficiaries tax penalties and delays. They may also be subject to seizure or liquidation to satisfy debts.Managing My Digital Estate Planning with TrustsDigital assets that hold some monetary value may be better managed by placing them in a Florida trust. Different types of trusts exist to hold property and shield it from probate, excessive taxation, exploitation, and loss. By placing assets in a trust, you can direct how they are used and preserved, saving them for your loved ones and protecting them from risk of seizure by creditors or lawsuits.Asset protection trusts are designed to protect even digital assets from excess taxation, misuse, and more. For example, if you own an online store that contains intellectual property for sale (writing or music for download as an example), this can be an ongoing source of income. Placing this digital asset in a trust allows your beneficiary to continue enjoying the profits of this property indefinitely, or however you leave instruction within the trust documentation.Digital assets in trust can also be left to specific beneficiaries who may better appreciate the assets and enjoy benefitting from them, preserving them for the future, and more.Get Help from a Wills and Trusts Attorney in TampaIf this is the first time you have ever considered your digital estate assets, now is the time to review them and compile a comprehensive record for your estate plan. Help from a Wills and Trusts Attorney in Tampa from Mortellaro Law can be invaluable as you seek to protect your digital assets and preserve them for future generations. Contact Mortellaro Law today to schedule an estate planning consultation and review your digital assets.

Losing a loved one can be a difficult and painful time for family and friends. There are many things to consider after someone passes away, including what happens to their bank. If someone dies without a will in Florida, their bank account and other assets will be subject to the states intestacy laws.Dying IntestateIntestacy laws dictate how a persons assets will be distributed if they die without a will. In Florida, if someone dies without a will, their assets will be distributed according to these laws. This means that the deceaseds bank account will be distributed to their heirs according to the states laws. It is important to note that if the deceased person had outstanding debts or liabilities, they must be paid before any assets, including funds in a bank account, can be distributed to heirs. If there are insufficient funds in the bank account to pay off the debts, the heirs may not receive any inheritance from the account.Bank Accounts with Named BeneficiariesIf the decedents bank account has named beneficiaries, it will pass directly to those individuals upon the decedents death. This setup allows control of the bank account and its assets to pass directly to the named beneficiaries without waiting for the exhausting probate process to be completed. The named beneficiaries must show a valid ID and the decedents death certificate to the bank. Bank Accounts with No Named BeneficiariesBank accounts with no named beneficiaries must pass through the probate process. Probate is timely and expensive, and when no will is present, the court will appoint an estate administrator to carry out its orders under state law. This often triggers family disputes and other problems because the law seldom distributes assets like bank accounts according to the familys wishes. Jointly Owned AccountsJointly-owned bank accounts in Florida typically pass to the sole ownership of the surviving joint account owner. This is called rights of survivorship. No probate process should be required.Probate AdministrationTo access the funds in a deceased persons bank account, the appointed executor must provide documentation to the bank to prove that the court has appointed them as the estate executor. This documentation may include a death certificate, letters testamentary, and other legal documents. Avoid Burdening Your Loved Ones Create an Estate Plan TodayIf someone dies without a will in Florida, their bank account will be subject to the states intestacy laws. The funds in the account will be distributed to the heirs according to the states laws. This seldom happens according to the decedents or the familys wishes. Complicated family structures and relationships can prolong the probate process while some may contest the courts distributions.  A Tampa Probate Attorney from Mortellaro Law is an invaluable resource when faced with controversial beneficiary distributions by the court-appointed administrator of an intestate loved ones estate. We are happy to consult with you and advise you on your rights and possible courses of action.  Of course, preventing this scenario and its burden on your loved ones is crucial. Mortellaro Law can help you create a sound estate plan to fulfill your wishes after your death. Asset distribution, including bank accounts, is just one benefit of establishing an estate plan now. Contact us today for a free consultation about estate planning in Florida.