Q. We have a dear, elderly neighbor who lives on SSI and, to my surprise, I learned that she is not eligible for food stamps. However, I hear that a new law was passed that will soon make her, as well as other persons on SSI, newly eligible for food stamps. Is that so? A…. Read More »
Blog Posts Page 15
Will Medi-Cal Count Dad’s Assets Even Though They Cannot Be Accessed Due To His Dementia?
Q. Our father is 90 years old and is being cared for in a nursing home, which costs about $10,500 per month. We need to apply for a Medi-Cal subsidy to help with the cost, but Dad has an old insurance policy with accumulated cash value which puts him over the $2,000 Medi-Cal resource ceiling… Read More »
Setting The Incapacity ‘Trigger’ in Your POA & Trust: Two Doctors or One?
Q. I am in my late 80’s and am updating my estate plan. I find I have an important decision to make: in my Power of Attorney (“POA”) and my Trust, if I ever lose mental capacity should I require the opinion of two doctors, or just one, to certify my incapacity before duties transfer… Read More »
Planning an Inheritance for A Child or Grandchild on Public Benefits: The Special Needs Trust?
Q. One of my grandchildren has a disability and receives SSI and Medi-Cal. I would like to leave him a bequest from my estate when I pass. But won’t doing so cause him to lose his public benefits? A. Not if you plan correctly. As you probably know, your grandson cannot have more than $2,000… Read More »
New Law Designed To Facilitate CA Organ Donations
Q. My wife and I are about to prepare Advance Health Care Directives, with an option to donate our organs. I hear there is a new law that touches on this. Do you know anything about this? A. Yes. The new law is AB 3211, effective January 1, 2019, and designed to make it easier… Read More »
Do I Need to Cash in My Annuities If I Go Into a Nursing Home?
Q. I have three annuities. If my wife or I need to go into a nursing home, do we need to cash them in to be eligible for a Medi-Cal subsidy? A. Well, like many things in life, it all depends. If your annuities are held inside an IRA owned by you or your wife,… Read More »
Selling or Refinancing Your Home When Your Spouse Can’t Sign
Q. My husband has dementia and I wonder about my ability to refinance or even sell the home, as he cannot sign. The home is held in a Living Trust. Can you advise? A. The short answer is that, under these circumstances, it may be easier for you to sell the home than it would… Read More »
Decanting: A New Way To Reform A Trust After the Death of the Trustor
Q. My brother created a trust a few years back, naming our sister as one of his beneficiaries and me as the Trustee. He recently died and we now have a problem: our sister receives public benefits (Medi-Cal and SSI) and the receipt of an inheritance would cause her to lose those benefits. Is there… Read More »
Moving & Over Age 55 or Disabled? You May Be Able to Transfer Your Low Property Tax Rate
Q. My wife and I are considering selling our home and purchasing a replacement home in California to be closer to our children? I hear there may be some way to transfer our very low property tax to our replacement home. Do you know anything about this? A. Yes. If at least one of you… Read More »
An Important Resolution For The New Year: Update Your Estate Plan
Q. My wife and I created our estate planning documents about 10 years ago and we really have not even looked at them since. Do you have any thoughts about when we should consider updating them? A. Yes, I do. I would tie a review and update into a New Year’s Resolution. Many of us… Read More »