Q. Our daughter is going through a divorce. She has a 19 year old son (our Grandson) who has a disability and gets both SSI and Medi-Cal. She plans to seek child support from the father. We worry that the child support will reduce our Grandson’s SSI and possibly eliminate his Medi-Cal. Is there a… Read More »
Blog Posts Page 7
Considering Remarriage? Better Also Update Your Wills, Trusts
Q. My fiancé and I will soon marry. We both have our Wills and Trusts already set up as we wish, as we both have children from prior relationships and we each want our own assets to go to our own kids. Is it still necessary to update our Wills and Trusts? A. Yes! Unless… Read More »
Preserving Your Parent’s Low Property Tax on Trust Distribution After Prop. 19
Q. My mom owned her home for 25 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 »
Spouse on Medi-Cal? May Be Time To Change Your Will
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 »
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 »