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 »
Blog Posts Page 8
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 »
How the $1.9 Trillion ‘American Rescue Plan Act’ Will Help Seniors
Q, I know that Congress and President Biden recently approved a new law that adds significant money into improving vaccinations and other COVID-19 outreach, but I wonder what other provisions are in the new law that might help seniors. A. Good question. The AMERICAN RESCUE PLAN ACT of 2021 (“ARPA”), R. 1319, was narrowly passed… Read More »
When a ‘Last Will’ Is Not Enough
Q. My wife and I were wondering whether we would need more than a Last Will for each of us to cover what happens upon death. Is a Will usually enough? A. Good question. The simple answer is “No”. Usually more planning documents are necessary, or at least strongly advisable. While a Will is an… Read More »
Defending Against Premature Nursing Home Discharges
Q. My father was discharged from the hospital into a nursing home, has been there only about 2 weeks under MediCARE, and now they are pressing us to bring him home. But, he’s not ready and still needs care. Is this right? A. No, it is not. Unfortunately, many nursing homes are concerned about whether… 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 $9,500 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 »