Q. My 86-year-old mother is in a nursing home and receives a Medi-Cal subsidy. We just learned that her brother died and left her $200,000 in his trust. Will the receipt of this inheritance bounce mom off of Medi-Cal? Is there anything we can do? A. The answer to your first question is easy: yes, the… Read More »
Posts Categorized: Gifts & Medi-Cal
New Medi-Cal Rules: Return of the Asset Cap in 2026
Q. You recently wrote an article advising that Governor Newsom was proposing a return to the former asset cap of $2,000 for those older individuals seeking to qualify for Medi-Cal. Has there been any decision on this? A. Yes, indeed! And the news is not as bad as many of us feared. A little background… Read More »
Governor Proposes to Restore Medi-Cal Resource Caps
Q: I just heard that Governor Newsom has proposed the reinstatement of the former asset test to qualify for Medi-Cal benefits. Is this true and, if so, what does this mean for seniors who might need long term care in the future? Is there anything we should do now to plan for this change? A: … Read More »
As POA for Dad, Can I Make Gifts On His Behalf?
Q. My father signed a Power Of Attorney some years ago, naming me as his agent. The POA is effective upon Dad’s incapacity, which I believe has arrived . Some family members could use some financial help. Would it be legal for me to make gifts to them from his assets using the POA? Can… Read More »
Consider Tax Savvy Year End Gifts To Family
Q. Last year around this time, you wrote an article on year-end gift planning, but I cannot find the copy I saved. My wife and I are considering making large gifts to our two children to help them remodel their homes, and we would like to do so in a way that is “tax wise”…. Read More »
Filial Responsibility: Are Children Responsible For Their Parents’ Care?
Q. My wife and I are concerned that our adult children might be held financially responsible for our care in the event we run out of our own resources. Our children are good kids, but they have their own financial responsibilities, including putting their own kids through college. Can you shed any light on this?… Read More »
Senior Alert: Medi-Cal Eligibility Rules Are Changing For Those Over 65!
Q. I heard that the Medi-Cal rules to qualify for a long-term care subsidy are about to change. This would be very important to us, as my husband, now aged 85, will soon need care in a nursing home, and we are very concerned about the cost. Do you know anything about this? A. Yes,… Read More »
Planning an Inheritance for a Child on Public Benefits
Q. One of our adult children has a disability and receives SSI and Medi-Cal. We are concerned that an inheritance may terminate his benefits. We have heard something about a Special Needs Trust. Can you tell us more about that? A. Sure. As you apparently know, under present rules your son cannot have more than… Read More »
Consider Tax Savvy Year End Gifts To Family
Q. My wife and I are considering making large gifts to our two children and three grandchildren, and we would like to do so in a way that is “tax wise”. Do you have any advice for us? A. Yes. Many people mistakenly believe that one cannot gift more than $15,000 per year/person without incurring a… 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 »