Q. My husband is in a nursing home and has qualified for a Medi-Cal subsidy to help with care expenses. To qualify, I was obliged to take his name off of most of our bank accounts, so that almost everything is in my name now. However, I have my own health problems and I wonder… Read More »
Blog Posts Page 7
How Grandparents Helped Humans Evolve
Q. Any thoughts for Grandparents Day, which this year is September 12, 2021? A. Yes. How about this: Archaeological evidence strongly suggests that increasing lifespans, which permitted the creation of an older generation (“grandparents”), played a key role in our evolutionary success. Indeed, this phenomenon may account for why we, as Homo sapiens, replaced archaic… Read More »
Take Care When Naming Minors as Beneficiaries
Q. I would like to name my young grandchildren (ages 3–10 years) as beneficiaries of my estate and my life insurance. Is there anything I should know about this plan? A. Yes. Your wish to do so is commendable, but it is important to make a plan that does not involve leaving assets directly to… Read More »
PACE Program Helps Elderly Remain at Home Instead of Nursing Home
Q. My husband has become frail, and his doctor says he may need to go into a nursing home. However, neither of us is happy with that plan. I want to keep him home. Is there a program that might help us? A. Yes. The “Program for All Inclusive Care for the Elderly” (“PACE”) may… Read More »
Can I Leave a Bequest In Perpetuity?
Q. My wife and I own a vacation cottage, and we were wondering whether there would be any problem if we left it to our descendants in perpetuity, in our trust? A. Yes, there would be a problem, at least if your cottage is located in California or in most (but not all) of the… Read More »
New California Homestead Exemption
Q. I hear there has been a change in the state Homestead Law. Can you comment? A. Yes, indeed. A new Homestead Exemption went into effect at the beginning of 2021, and it is good news for California homeowners. But first, a bit of background for those readers who might not be familiar with the… Read More »
The 5 Parts Of A Good Estate Plan
Q. My wife and I would like to set up a basic estate plan. What are the essentials? A. Many people believe that if they have a will, their estate planning is complete. But, actually, there is much more to a good estate plan. A good plan should be designed to avoid probate, minimize estate… Read More »
A Novel Gift Idea for the New Graduate
Q. Our grandson is graduating college and we would like to get him a gift which recognizes the beginning of his adult life and career. We thought of something of a “legal” nature and wondered if you have any ideas? A. Great thought and indeed I do. Why not arrange through your attorney to provide… Read More »
New Protections for Spouses of Reverse Mortgage Borrowers
Q. I hear that HUD just made some important changes for borrowers of Reverse Mortgage loans to protect the borrowers’ spouses. Do you know anything about that? A. Yes, indeed, and you heard correctly. On May 6, the Department of Housing and Urban Development (“HUD”) issued new rules to govern all Home Equity Conversion Loans… Read More »
How to Access A Decedent’s Safety Deposit Box
Q. My late Uncle set up a safety deposit box at a local bank and named me as both executor under his Will and trustee under his Trust. In order to follow his wishes, I need access to his original estate planning documents, which I understand are held in his safety deposit box. How can… Read More »