Life, Legacy & Wealth - Navigating key decisions for you and your family

017: Special Needs Trusts: What Florida Families Must Know Before It's Too Late

When a child has a disability, a standard estate plan can do real harm. Cary Moss, Managing Partner at Sawyer & Sawyer, P.A. and a Florida elder law attorney with nearly three decades of experience, breaks down exactly how supplemental needs trusts work, where they fail, and what families must do to protect a disabled loved one's benefits while still leaving them something to live on. Cary covers the most common mistakes parents make, including cutting a disabled child out of the estate entirely or leaving funds informally to a sibling. She explains the full planning picture, from trustees and beneficiary advocates to trust protectors and guardian advocates, and why getting the legal language wrong can collapse the entire structure. No family should wait for a crisis to start this conversation. The right plan, built now, protects everything. In this episode, you will hear: * Why cutting a disabled child out of an estate plan backfires, and what to do instead * The hidden risks of leaving assets informally to a non-disabled sibling * First-party vs. third-party special needs trusts and the drafting errors that can sink either one * How a standalone third-party trust simplifies planning when multiple family members want to contribute * The full planning team inside a well-built supplemental needs trust, from trustees to trust protectors to guardian advocates * Why families should review the trust every two to three years and what life events demand an immediate update * How to prepare for the first meeting with an attorney, including the conversations to have at home first Resources from this Episode https://sawyerandsawyerpa.com/special-needs-planning/ [https://sawyerandsawyerpa.com/special-needs-planning/] Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts [https://podcasts.apple.com/us/podcast/life-legacy-wealth-navigating-key-decisions-for-you/id1802050646]. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com [https://emeraldcitypro.com/] Let them know we sent you.

016: Supplemental Needs Trusts: How to Protect Your Child's Benefits in Florida

A $2,000 asset limit stands between a disabled beneficiary and the government benefits keeping them afloat. Elder law attorney Cary Moss joins the show to walk families through supplemental needs trusts and why getting this planning wrong can cost far more than money. Cary breaks down the three types of trusts families encounter, first party, third party, and pooled, explains what each one covers, and draws a clear line between what a trust can pay for and what will trigger a loss of benefits. She also addresses Florida-specific programs, from ABLE United accounts to vetted pooled trust organizations like AGED and Guardian Trust Foundation. The episode closes with a scenario every Orlando parent should hear: a $400,000 life insurance policy named the wrong beneficiary, and what that mistake sets in motion. In this episode, you will hear: * Why leaving money directly to a disabled child can eliminate their government benefits immediately * The $2,000 asset threshold that determines SSI and Medicaid eligibility * First party, third party, and pooled supplemental needs trusts and when each applies * What a supplemental needs trust can and cannot pay for without triggering benefit loss * How to choose the right trustee and what that person needs to know about public benefits * Florida-specific resources including ABLE United accounts, AGED, and Guardian Trust Foundation * Why understanding which Medicaid program a beneficiary is on matters before any planning begins Resources from this Episode https://sawyerandsawyerpa.com/special-needs-planning/ [https://sawyerandsawyerpa.com/special-needs-planning/] Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts [https://podcasts.apple.com/us/podcast/life-legacy-wealth-navigating-key-decisions-for-you/id1802050646]. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com [https://emeraldcitypro.com/] Let them know we sent you.

015: Don't Wait Until an Emergency: Planning for 18-Year-Olds

The day a child turns 18, parents lose the legal right to make any decision for them. Medical calls, financial disputes, lease negotiations, all of it. Cary Moss and Tom Moss, attorneys at Sawyer & Sawyer, P.A., lay out exactly what documents every young adult needs the moment that birthday hits: a durable power of attorney, a living will, a designation of healthcare surrogate, and a HIPAA release form. Cary and Tom speak from personal experience. They have two sons, 22 and 20, and they've been through this themselves. If your child is approaching 18, or already there, this episode tells you what to do and why waiting is a risk you don't want to take. In this episode, you will hear: * Why turning 18 changes everything for parents, legally and financially * The durable power of attorney and what it actually covers * Three healthcare documents every young adult needs in place * How a living will differs from a healthcare surrogate designation * What a HIPAA release form does and why it matters in an emergency * Naming a primary and a backup fiduciary across all documents * Why the Mosses got their own son's paperwork done the moment he turned 18 Resources from this Episode Estate Planning For Young Adults - https://sawyerandsawyerpa.com/estate-planning-for-young-adults/ [https://sawyerandsawyerpa.com/estate-planning-for-young-adults/] Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts [https://podcasts.apple.com/us/podcast/life-legacy-wealth-navigating-key-decisions-for-you/id1802050646]. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com [https://emeraldcitypro.com/] Let them know we sent you.

014: How to Avoid Probate in Florida: Three Strategies That Actually Work

Probate costs Florida families real money. Attorney's fees alone run 3% of the estate, and the personal representative takes another 3%, meaning a $1 million estate loses $60,000 before a single beneficiary sees a cent. In this episode, Tom Moss lays out three strategies that keep assets out of probate entirely: revocable living trusts, Lady Bird deeds, and beneficiary designations. Tom explains why each tool fits certain situations and fails in others. A Lady Bird deed works well for a straightforward transfer to one healthy adult child. Add creditor issues, a disabled beneficiary, or siblings who don't get along, and a trust becomes the smarter call. If you have ever assumed your estate plan covers all the bases, this episode will tell you whether it actually does. In this episode, you will hear: * Why probate costs Florida families up to 6% of the total estate value before any beneficiary collects anything * Revocable living trusts, how they work, and why a poorly funded trust is just an expensive stack of paper * Lady Bird deeds as a simple, low-cost option for straightforward property transfers, and when they fall short * Beneficiary designations for bank accounts, investment accounts, IRAs, and insurance policies, and the hidden risks of getting them wrong * Joint ownership with children and why it creates more problems than it solves * How family dynamics, disabled beneficiaries, creditor issues, and out-of-country heirs all change the right strategy * What an attorney intake process actually covers and why it determines which probate avoidance tools make the most sense Resources from this Episode https://sawyerandsawyerpa.com/probate/ [https://sawyerandsawyerpa.com/probate/] Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts [https://podcasts.apple.com/us/podcast/life-legacy-wealth-navigating-key-decisions-for-you/id1802050646]. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com [https://emeraldcitypro.com/] Let them know we sent you.

013: Medicaid's 5-Year Lookback Rule Explained: What Florida Families Need to Know About Medicaid Eligibility

In this episode of Life, Legacy & Wealth, Cary Moss breaks down everything families need to know about Medicaid planning — before a crisis forces their hand. From the five-year lookback rule to irrevocable trusts, spousal refusal, and the caregiver child exception, Cary walks through the legal strategies available to Florida families who want to protect their assets and preserve their legacy without running afoul of Medicaid rules. Cary brings years of hands-on elder law experience to the conversation, offering practical guidance on what documents to gather, what questions to ask when hiring an elder law attorney, and what steps families can take right now — even if a nursing home is still years away. If there's one thing to take away from this episode, it's this: don't wait for a crisis to start planning. In this episode, you will hear: * The five-year lookback rule and why timing is everything in Medicaid planning * Legal strategies for protecting assets — including spousal refusal, annuities, and caregiver loans * How irrevocable trusts can shield assets from Medicaid when set up well in advance * The caregiver child exception and when a home can be transferred to an adult child * What to do when a disqualifying transfer has already been made * Key documents every family should have organized before applying for Medicaid * Questions to ask before hiring a Florida elder law attorney Follow and Review: We'd love for you to follow us if you haven't yet. Click that purple '+' in the top right corner of your Apple Podcasts app. We'd love it even more if you could drop a review or 5-star rating over on Apple Podcasts [https://podcasts.apple.com/us/podcast/life-legacy-wealth-navigating-key-decisions-for-you/id1802050646]. Simply select "Ratings and Reviews" and "Write a Review" then a quick line with your favorite part of the episode. It only takes a second and it helps spread the word about the podcast. Episode Credits If you like this podcast and are thinking of creating your own, consider talking to my producer, Emerald City Productions. They helped me grow and produce the podcast you are listening to right now. Find out more at https://emeraldcitypro.com [https://emeraldcitypro.com/] Let them know we sent you.