[et_pb_section fb_built=”1″ admin_label=”Header” _builder_version=”4.3.2″ use_background_color_gradient=”on” background_color_gradient_start=”rgba(107,107,107,0.39)” background_color_gradient_end=”rgba(224,153,0,0)” background_color_gradient_direction=”123deg” background_color_gradient_overlays_image=”on” background_image=”http://absolutelawgroup.com/wp-content/uploads/2020/04/absolute-law-header-bg.png” custom_padding=”56px||56px||true|false” bottom_divider_color=”rgba(0,0,0,0.38)” bottom_divider_height=”100%” bottom_divider_flip=”horizontal” collapsed=”off”][et_pb_row _builder_version=”3.25″ custom_padding=”0|0px|0|0px|true|false” border_color_all=”#c45336″ border_width_left=”8px” collapsed=”off”][et_pb_column type=”4_4″ _builder_version=”3.25″ custom_padding=”|||” custom_padding__hover=”|||”][et_pb_text _builder_version=”4.6.1″ header_font=”|||on|||||” header_text_color=”#567899″ header_font_size=”47px” header_letter_spacing=”0.1em” header_line_height=”1.4em” background_color=”rgba(255,255,255,0.76)” max_width=”850px” custom_margin=”||0px” custom_padding=”28px|10px|28px|20px|true|false” header_font_size_tablet=”40px” header_font_size_phone=”30px” header_font_size_last_edited=”on|phone”]

What To Do When a Disability Throws Your Estate Plan Into Chaos

[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.3.2″ min_height=”115px” custom_padding=”0px||0px|||”][et_pb_row _builder_version=”4.3.2″][et_pb_column type=”4_4″ _builder_version=”4.3.2″][et_pb_text _builder_version=”4.6.1″ hover_enabled=”0″ sticky_enabled=”0″]As poet Robert Burns mused centuries ago, “The best-laid plans of mice and men often go awry.” Despite the thoughtful effort and a concerted strategy, you cannot prepare for every emergency. A car accident, sudden illness, workplace injury or chronic medical condition can force you to re-evaluate the core assumptions you used to plan your future and set up your legacy.

A 2015 report published by the Centers for Disease Control and Prevention (CDC) offered this sobering assessment: “In 2013, approximately one in five U.S. adults reported any disability, with state-level prevalence of any disability ranging from 16.4% in Minnesota to 31.5% in Alabama.” The CDC also reported that “annual disability-associated health care expenditures were estimated at nearly $400 billion in 2006, with over half attributable to costs related to non-independent living (e.g., institutional care, personal care services).”

Frustratingly, you can’t turn back the clock. However, you can take meaningful actions to protect your legacy and estate in the wake of your newfound limitations. Here are some insights to that end:

Work with a qualified estate planning attorney to ensure that:

Get a recommendation from your estate planning attorney or your financial advisor, who can help you take additional actions, such as:

Mind this important distinction:

Be advised that “disability” for legal purposes is different than “disability” for financial planning purposes.

For example, disability for financial purposes might mean you can’t work gainfully anymore because of cancer or a workplace injury. On the other hand, “incapacity” in an estate planning context typically means that a person is no longer capable of making sound decisions, often due to systemic illness or injury.

In other words, you can be “disabled” for financial/insurance purposes and be non-disabled for legal purposes. However, almost anyone who is disabled for legal purposes would also be considered disabled for financial purposes.

Either way, it’s important for us to work together with your financial advisor to make sure you and your family are fully protected.

Take these actions on your own:

 

Please reach out to us to assess your long term plans and documents and make sure you are as secure as possible in light of your new challenges. Call our office at 352-205-4455 to schedule a consultation.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section][et_pb_section fb_built=”1″ _builder_version=”4.3.2″ background_color_gradient_direction=”126deg” background_image=”http://absolutelawgroup.com/wp-content/uploads/2019/01/adult-affection-beach-1470172.jpg” custom_padding=”237px|0px|117px|0px|false|false” box_shadow_style=”preset3″ box_shadow_vertical=”-4px” box_shadow_blur=”17px” box_shadow_spread=”-5px” box_shadow_color=”#d1d1d1″ global_module=”7049″ saved_tabs=”all”][et_pb_row _builder_version=”4.6.0″ background_enable_color=”off”][et_pb_column type=”4_4″ _builder_version=”4.3.2″ background_color=”rgba(255,255,255,0.75)” custom_padding=”21px||||false|false” scroll_horizontal_motion_enable=”on”][et_pb_blurb title=”Sumter County” use_icon=”on” font_icon=”%%122%%” icon_color=”#dd7a00″ icon_placement=”left” use_icon_font_size=”on” icon_font_size=”22px” _builder_version=”4.3.2″]

8630 East County Road 466, Suite A
The Villages, FL 32162

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6035 SW 54th Street, Suite 200
Ocala, FL 34474

[/et_pb_blurb][et_pb_blurb title=”Citrus County” use_icon=”on” font_icon=”%%122%%” icon_color=”#dd7a00″ icon_placement=”left” use_icon_font_size=”on” icon_font_size=”22px” _builder_version=”4.3.2″]

547 West Fort Island Trail, Suite H
Crystal River, FL 34429

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