Many people simply try to give their assets away to their children in an attempt to avoid Probate. Many years ago, a popular planning technique was to transfer your assets into your children or an irrevocable Medicaid Trust.

In 1993, the federal government partially closed this loop hole.

In 2006, the law changed! with the passage of the  Debt Reduction Act of 2005 (DRA 2005). This law only applies to any transfer of assets after February 8, 2006 and the State of Florida has not implemented it as of the end of 2006.
Transfers include adding children's names to the title of assets such as deeds or bank accounts, removing your name from the title of an asset, or simply giving your children a check.

If you are a concerned relative or friend of an elderly person and need help with <a href="http://www.floridaestateplanninglawyerblog.com/about.html">Florida Estate Planning</a> , Elder Law, or Medicaid and are in the areas around North East Florida we'd like to hear from you.

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