Claiming A Parent As A Dependent

Q. My mother-in-law lives with my wife and me and we pay most of the cost for her caregiver, as well as providing free room and board. Can we declare her as a dependent on our tax returns? A.  You may very well be able to do so. Actually there are several ways in which… Read More »

Will Medi-Cal Pay for Care in the Home?

Q.  My mother needs full-time round-the-clock care, but she wants to remain in her home rather than move to a nursing home. If she meets the financial eligibility requirements, will Medi-Cal pay for her care at home? A.  Unfortunately, your mom would most likely need to be in a nursing facility in order to receive… Read More »

Is an Out-Of-State Will Valid in California?

Q.  Before relocating to California, my wife and I lived in Ohio where we signed wills. Are they now valid in California? A.  If they were properly prepared and signed under the laws of Ohio, the short answer is “yes”. But, it would still be wise to have them reviewed — and perhaps revised —… Read More »

Ensuring That Your Loved Ones Receive Your IRA

Q. I have a large Traditional IRA, and I wish to name my wife as primary beneficiary and my children from a previous marriage as backup beneficiaries. Can I lock in this beneficiary designation plan on the IRA Beneficiary Designation Form I sign at the bank? A. Unfortunately, not likely. While it is always a… Read More »

Inheritance While on Medi-Cal?

Q.  My 86-year-old mother is in a nursing home and receives a Medi-Cal subsidy. We just learned that her brother died and left her $200,000 in his trust.  Will the receipt of this inheritance bounce mom off of Medi-Cal?  Is there anything we can do? A.  The answer to your first question is easy: yes,… Read More »