Q. In connection with creating our estate planning documents, my husband and I would like to leave our children and grandchildren something more than just our money and assets. We would like to leave them a sense of our values. A friend mentioned something to us about an “Ethical Will”. Do you have any thoughts… Read More »
Posts Categorized: General Items
How Does an Alternate Agent Under Power Of Attorney Take Over?
Q. Years ago, when my mother and father created their powers of attorney, they each appointed the other as their first choice agent, and appointed me, their son, as first successor. Neither of my parents is now able to handle their own affairs, nor act as agent for the other. How do I step in… Read More »
New Protections For Widowed Homeowners Facing Foreclosure
Q. I hear there is a new law which protects widows from losing their homes in foreclosure when a spouse dies. Do you know anything about that? A. Yes. I believe you refer to the new California law referred to as the “Survivor Bill Of Rights” (SB 1150), effective January 1, 2017. SB 1150 now… Read More »
Debt Relief For Low Income Seniors
Q. My wife and I have about $10,000 in credit card debt that we struggle to pay each month. Our incomes are very modest and all from Social Security and my work Pension. Is there any way that we can legally avoid paying this debt without dire consequences? A. Very likely, yes. Generally speaking, income… Read More »
Medicare To Pay for End-Of-Life Counseling
Q. I hear that Medicare will now pay for me to discuss my end-of-life wishes with my doctor. Is this true? A. Yes, beginning January 1 of 2016, Medicare will begin reimbursing physicians for time spent in counseling patients regarding their end-of-life wishes. This development, just announced October 31, 2015, by the Center for Medicare… Read More »
Preserving Your Parent’s Low Property Tax on Trust Distribution
Q. My mom owned her home for 35 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 »
Happy 800th Birthday, Magna Carta!
Q. I have been hearing snippets of news lately about the Magna Carta. What is it and why is it important? A. The Magna Carta of 1215 is considered by some to be the most important legal document created in Western Civilization during the last millennium. Historically, it was a peace treaty between King John… Read More »
The Reading of the Will
Q. My brother-in-law just died, and I expected the entire family to be invited to a formal reading of his will. So far, nothing has been set up. Does that sound right? A. Actually, yes it does. You have probably seen a number of old movies where, after a person’s death, his next of kin… Read More »
Dealing with the Home When Your Spouse Can’t Sign
Q. My husband has dementia and I wonder about my ability to refinance or even sell the home, as he cannot sign. The home is held in a Living Trust. Can you advise? A. The short answer is that it may be easier for you to sell the home than it would be to refinance…. Read More »
Helping Parents With A Private Reverse Mortgage
Q. My parents are in their 80’s and could use some financial help to remain in their home. Fortunately, I am in a position to help, but my parents are reluctant to accept gifts. I heard something about a family loan that works like a reverse mortgage. Do you know anything about this? A. Yes…. Read More »