Q. I have heard friends complain that their parent’s financial power of attorney was not honored by their bank. Is there a way to avoid this? A. Unfortunately, we hear that complaint from time to time. While there may be no way to draft a power of attorney that completely eliminate the risk that it… Read More »
Blog Posts Page 22
Should We Sell Mom’s Home To Pay For Her Care?
Q. Our mother is in assisted living and may need to go into a nursing home soon. To raise money for her ongoing care, we are thinking of selling her home which is now vacant. Any thoughts as to whether that makes sense? A. Yes. In some cases, selling the home may be appropriate. However,… 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 »
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 »