Q. My mother named me as her agent under a power of attorney several years ago. Sadly, she recently passed. Can I still use it to take care of her financial matters as her agent? A. Unfortunately, no. Your mother’s financial power of attorney expired upon her death and is no longer valid. This fact… Read More »
Blog Posts Page 23
Is Your Home in Trust? Better Check Your Title Insurance
Q. My wife and I created a Living Trust some years ago and put our home in our trust. I recall hearing something on the radio recently about making sure that the transfer into our trust did not void our title insurance. Do you know anything about this? A. Yes. You refer to the concern… Read More »
Is Your Trust HIPAA Compliant?
Q: I heard on a radio program that Living Trusts should be HIPAA compliant, but I didn’t quite catch the full comment. Can you shed any light on this? A. Sure. Most trusts and powers of attorney contain provisions which call for a change in trustee or agent when the maker of these instruments becomes… Read More »
Can I Use My Father’s POA to Help Him Qualify for Medi-Cal?
Q. My father is in a nursing home and could really use a Medi-Cal subsidy to help with the cost, which is running about $8,500 per month. He has dementia and cannot manage his own finances. Years ago he signed a Power Of Attorney naming me as his agent. Can I use it to make… Read More »
A Tax Savvy Alternative To Joint Tenancy: Community Property With Right of Survivorship
Q. My husband and I hold title to our home in joint tenancy. When we bought it years ago we were told that was the simplest way to avoid probate. However, I now hear that there may be tax advantages to holding title as community property. If so, is there a way to get the… Read More »
Handling Legal Affairs When Your Spouse Can’t Sign
Q. My husband suffers from dementia and we have significant expenses for care in the home. In order to help with these expenses, I’ve been thinking about selling our vacation property which we no longer use or cashing in one of his annuities. I would also like to set up a Living Trust and make… Read More »
Don’t Unwind Your Trust by Mistake
Q. My father had a Living Trust which originally held title to his house. He recently died and when we went to handle his affairs, we discovered that the home was no longer in his trust. It seems that he took it out of his trust when he refinanced his home some years back. I… Read More »
VA Seeks to Tighten Rules for Disability Pension
Q. I hear that the VA is now proposing a “look back” rule to make it more difficult for disabled veterans to qualify for an Aid and Attendance pension. Do you know anything about this? A. Yes. As you may know, veterans who served during wartime and have either a non-service-connected disability or are over… Read More »
Alameda County Judge Orders State to Speed Up Medi-Cal Decisions
Q. About 6 months ago, I applied for Medi-Cal to help with my husband’s ongoing nursing home bill, and we are still waiting for a decision. I keep calling Medi-Cal, but nothing happens. The nursing home has been patient, but I do not think they can wait forever. Is there anything I can do? A…. Read More »
IRS Now Endorses Annuity Inside Traditional IRA
Q. I just heard about a new IRS rule that gives favored treatment to the purchase of an annuity inside an IRA. Do you know anything about that? A. Yes. You refer to the new IRS rule that allows an owner of a Traditional IRA to use a portion of his or her IRA or 401K… Read More »