Q. My primary asset is my home, which I purchased about 35 years ago and now own free and clear. I would like to leave it to my son, but in a way that avoids the fuss of a probate or trust administration when I die. Is there some way to do this? A. Yes,… Read More »
Search Results for: TOD Deed
What Is a Life Estate Deed?
Q. My primary asset is my home, which I purchased about 40 years ago and now own free and clear. I would like to leave it to my children, but in a way that avoids the fuss of a probate or trust administration when I die. Is there some way to do this? A. Yes,… Read More »
New Transfer on Death Deed: An Alternative to a Living Trust?
Q. I hear that Governor Brown just signed a new law that makes it easier for a homeowner to transfer a home, on death, to his name beneficiaries without going through probate or creating a trust. Do you know more about this? A. Yes. The new law (AB 139) creates a Revocable Transfer on Death… Read More »
An Estate Plan without Probate or Trust Administration?
Q. Is it possible to plan my estate so that my assets go to my beneficiaries without probate or even a trust administration? I have a home, bank and brokerage accounts, an IRA, annuity and life insurance policy. I would like to keep things as simple as possible. A. Yes, and here is how you… Read More »
How To Settle Some Estates Without Probate
Q. My father recently died, leaving his home in a Living Trust. He also left several bank and brokerage accounts. Our problem: these financial accounts were never formally transferred into his trust. Is there a way to deal with them now without going through a full probate? A. Yes, there may very well be a… Read More »
Does Your Older Trust Need An Update?
Q. My wife and I had our Living Trust prepared back in the year 2001. I hear there have been changes in tax law since then which might affect us. Is it time to have our trust reviewed? A. Yes, Indeed!. When you created your own trust, the estate tax exemption was much smaller than… Read More »
Senior Alert: Medi-Cal Eligibility Rules Are Changing For Those Over 65!
Q. I heard that the Medi-Cal rules to qualify for a long-term care subsidy are about to change. This would be very important to us, as my husband, now aged 85, will soon need care in a nursing home, and we are very concerned about the cost. Do you know anything about this? A. Yes,… Read More »
How Grandparents Helped Humans Evolve
Q. Any thoughts for Grandparents Day, which this year is September 12, 2021? A. Yes. How about this: Archaeological evidence strongly suggests that increasing lifespans, which permitted the creation of an older generation (“grandparents”), played a key role in our evolutionary success. Indeed, this phenomenon may account for why we, as Homo sapiens, replaced archaic… Read More »
How Can We Save Mom’s Home While She’s In A Nursing Home On Medi-Cal?
Q. Our mother just moved into a nursing home for care and has qualified for a Medi-Cal subsidy to help with the cost. However, Medi-Cal wants all of mom’s income to go to the nursing home as her “co-pay”. That leaves nothing to cover her home expenses, including her mortgage, property taxes, insurance and upkeep…. Read More »
Administering a Trust: Who Is Entitled to Trust Information?
Q. My sister just passed away and had previously appointed me as trustee of her trust. She was estranged from one of her sons and left him nothing on purpose. However, I anticipate that he will demand a copy of the trust and information about her estate. Am I my legally obliged to share any… Read More »