Q. My wife and I have missed a few home mortgage payments this year, and we are behind in our property taxes. I heard there is a program that might help us out. Do you know anything about it? We don’t want to lose our home. A. Yes. In California, the program is called the… Read More »
Blog Posts Page 2
Understanding A “Springing” Power of Attorney
Q. I recently heard the term “Springing” Power of Attorney, but I am not sure what that means. Can you shed any light on this? A. Sure. Broadly speaking, there are two general categories of financial Powers of Attorney: (1) those that are immediately effective upon signing by the principal, and (2) those that are… Read More »
Filial Responsibility: Are Children Responsible For Their Parents’ Care?
Q. My wife and I are concerned that our adult children might be held financially responsible for our care in the event we run out of our own resources. Our children are good kids, but they have their own financial responsibilities, including putting their own kids through college. Can you shed any light on this?… Read More »
When Your Most Valued Assets Are Not Covered by Your Will
Q. My wife and I hold title to her home as joint tenants, and most of our cash assets are in the form of two large IRA accounts and one big annuity. We have basic wills which leaves everything to the other and then on to our children. Our son suggested that our wills may… Read More »
What’s in the New Inflation Reduction Act for Seniors?
Q. My wife and I have been following the news about the recently signed Inflation Reduction Act, and there seems to be significant benefits for seniors on Medicare. Can you provide more information? A. Sure. The recently signed Inflation Reduction Act has been considered by many as a blockbuster piece of legislation, perhaps one of… Read More »
Plan for Trustee Succession
Q. I have a Living Trust. I am the original trustee and my children are the successor trustees. Do you have any thoughts about easing the transition of trustee duties from me to my children when the management of my finances has become too much for me? A. Yes. It is important for that transition… Read More »
Add Flexibility To Your Trust To Handle Change
Q. My husband and I are concerned about how to keep our trust up to date in light of changing tax law and changing family circumstances. What if we are too ill to make changes ourselves. Any thoughts on how we can handle these concerns? A. With the ever-changing tax landscape, and changes over time… Read More »
The Ethical Will: Putting Your Values on Paper
Q. In connection with creating our estate planning documents, my husband and I would like to leave our children and grandchildren something more than just our money and assets. We would like to leave them a sense of our values. A friend mentioned something to us about an “Ethical Will”. Do you have any thoughts… Read More »
Does Your Trust Need a Tuneup?
Q. My wife and I had our Living Trust prepared back in the year 2008. I hear there have been changes in tax law since then which might affect us. Is it time to have our trust reviewed? A. You refer to the Tax Cuts and Jobs Act,” (“TCJA”) signed by former President Trump on… Read More »
What’s Involved in Administering a Trust?
Q. My mother recently died. Her home, bank accounts and other assets were held in a Living Trust. Her financial advisor said we should now see a lawyer to help with trust administration. What? I thought if you had a Living Trust that there was little or nothing to do following the death of the… Read More »