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 »
Blog Posts Page 18
Special Needs Trust May Preserve Public Benefits In Divorce
Q. Our 35 year old daughter is going through a divorce. She is on disability and gets SSI and Medi-Cal. We worry that she may lose her benefits once she is awarded support and receives her share of community property. You recently wrote about a Special Needs Trust to protect benefits for a senior in… Read More »
Planning for an Incapacitated Spouse Using a Special Needs Trust
Q. My wife suffers from Parkinson’s and has been in a nursing home for some time. About a year ago, we put everything in my name so she could qualify for a Medi-Cal subsidy to help pay for her care. We currently have only simple wills which leave everything to the survivor of us, and… Read More »
Advance Planning Is Still Necessary For Medi-Cal Subsidy
Q. A while back you wrote an article advising that the obligation to repay Medi-Cal for benefits received during life changed as of January 1, 2017. Does that mean that we no longer need to include Medi-Cal planning powers in our estate planning documents. A. Not at all. While the rules requiring “payback” to Medi-Cal… Read More »
New Law: You May Now Give Your Fiduciary Post-Mortem Access To Your Social Media Accounts
Q. I am a frequent user of Facebook and Twitter, and I sometimes wonder what would happen to my accounts upon my death. Would my family be able to access my posts? A. Under a new California law that went into effect January 1, 2017, the answer is “yes”, provided that you take proactive steps… Read More »
Watch Out For Mistakes in the List of Doctors Covered by Your Medicare Advantage Plan
Q. My wife and I are covered by a Medicare Advantage Plan, but we often find that doctors listed in our plan’s directory turn out not be in the Plan. This makes it difficult for us to rely upon the list to seek care from doctors in the network. Any comment upon this? A. Yes,… Read More »
Claiming a Tax Deduction for Long-Term Care Insurance Premiums.
Q. Tax day is coming soon and I wonder if I can claim a tax deduction for my Long Term Care Insurance Premiums paid during this past year? A. Depending upon your income and age, the answer may very well be ‘yes’, at least as to a portion of your premiums paid. Here’s the… Read More »
Family Loans: Avoid Running Afoul of IRS Rules
Q. My wife and I want to make a loan to our son to help him buy a home. We are really not interested in charging interest and we might even forgive the loan in our Wills. Are there any tax implications of which we should be aware? A. Yes, there are. Concerns regarding intra-family… Read More »
A New Year’s Resolution
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 »
New Law Empowers the Disabled Under Age 65 to Create Their Own Special Needs Trust
Q. I hear that President Obama just signed a new law that makes it easier for disabled persons to create their own Special Needs Trust. Do you know anything about this? A. Yes. With strong bipartisan support, just last week President Obama signed a comprehensive piece of legislation called the 21st Century Cures Act, primarily… Read More »