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 »
Posts Categorized: Estate Planning
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 »
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 »
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 »
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 »
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 »
Key Elder Law Numbers for 2021
To Our Clients and Friends: Below are updated numbers for 2021 that are frequently used in our Elder Law practice and which may be of interest to clients: Medi-Cal Spousal Impoverishment Numbers for 2021 The new Community Spouse Resource Allowance (“CSRA”) is $130,380. The Minimum Monthly Maintenance Needs Allowance (“MMMNA”) for the “At- Home” Spouse… Read More »