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 »
Blog Posts Page 22
Does California Recognize the ‘Right to Die’ ? New Law Says “Yes”!
News Flash: On October 5, 2015, Governor Brown signed the End of Life Option Act. It authorizes “an adult who meets certain qualifications, and who has been determined by his or her attending physician to be suffering from a terminal disease, as defined, to make a request for a drug prescribed …. for the purpose of… Read More »
What Happens If a Die Without a Will?
Q. If I die without a will, do my assets go to the state? A. Generally, no. The state would be the last potential recipient, and then only if your successors or next of kin could not be located. Here is how your assets would be handled: Joint Tenancy Assets: Assets held in joint tenancy… Read More »
Protect Deceased Loved Ones from Identity Theft
Q. My father just died and I have been named as his executor. Are there steps I should take to protect against theft of his identity? A. Yes. As disturbing as it may seem, even the identity of the deceased is subject to identity theft.By one estimate, thieves steal the identities of more than 2… Read More »
When Should I Update My Trust?
Q. My wife and I have a Living Trust and related estate planning documents which were prepared some years ago. We were told that we should keep them current. Do you have any advice in terms of when it is time to update or revise them? A. When your trust was prepared, your attorney probably… Read More »
Financial Help for Care at Home: the IHSS Program
Q. Our 90 year-old mother is frail but wishes to remain at home. She has limited financial resources, so my sister is living with her and providing care without pay. Are there any government programs that might help us hire a caregiver and give my sister some relief? A. Yes. There are a number of… Read More »
How to Distribute an Estate’s Personal Property Fairly
Q. Our father appointed me as executor of his estate, and I want to distribute his personal possessions among the four of us children in a way that is fair. Any suggestions as how I might do this? A. Yes. I assume by your question that your father did not leave any specific direction in… Read More »
Gifts to Grandchildren: The 529 Plan
Q. My wife and I are considering annual gifts to our grandchildren to help with their future college expenses. Do you have any suggestions as to the best way to do this? A. Yes. One of the best options is to make annual gifts into a 529 Education Savings Plan, so named for Section 529… Read More »
Unique Long-Term Care Policy Offers Asset Protection
Q. While shopping for long-term care insurance, I heard something about a special kind of policy that offers asset protection by coordinating with Medi-Cal. Do you know anything about that? A. Yes, you refer to the California Long-Term Care Partnership Plan. California was one of the first states in the country to put together a… Read More »
Preserving Your Parent’s Low Property Tax on Trust Distribution
Q. My mom owned her home for 35 years before she recently passed. Her trust leaves it 50-50 to my brother and me. I would like to keep the home by purchasing my brother’s interest for cash, and he is okay with that. Is there a way that we can do this without triggering a… Read More »