Q. Is it possible to plan my estate so that my assets go to my beneficiaries without probate or even a trust administration? I have a home, bank and brokerage accounts, an IRA, annuity and life insurance policy. I would like to keep things as simple as possible. A. Yes, and here is how you… Read More »
Posts Categorized: Medi-Cal Planning
Action Plan After an Alzheimer’s Diagnosis
Q. My husband was just diagnosed with Alzheimer’s, but still seems to be generally okay. Are there legal steps we should take by way of planning for the future? A. Yes. Once you or loved one has been diagnosed with Alzheimer’s, it is important to take action to get your affairs in order. Here is… Read More »
A Winning Strategy To Protect Home From Taxable Gain and Medi-Cal Claim
Q. My mother has been in a nursing home on a Medi-Cal subsidy for the last 18 months, and I know Medi-Cal will have a substantial “payback” claim when she passes. She owns a home which she bought 40 years ago for $40,000, which is now worth about $700,000. I worry about the growing Medi-Cal… Read More »
Will Medi-Cal Take Mom’s Home For Nursing Home Costs
Q. We were obliged to arrange for mom to move into a nursing home because she has become frail and needs full-time care. We now need to apply for a Medi-Cal subsidy to help pay for the cost of her care, which is quite expensive. We’ve heard that Medi-Cal may then take her home. Is… Read More »
Will Medi-Cal Pay for Care in the Home?
Q. My mother needs full-time round-the-clock care, but she wants to remain in her home rather than move to a nursing home. If she meets the financial eligibility requirements, will Medi-Cal pay for her care at home? A. Unfortunately, your mom would most likely need to be in a nursing facility in order to receive… 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 »
Medi-Cal’s Plan to Ensure the Healthy Spouse Is Not Impoverished: the CSRA
Q. My husband may need to go into a nursing home soon, and I fear that the high cost of nursing care will rapidly deplete our savings. Since we do have some savings, would he be ineligible for Medi-Cal? A. Not necessarily, and this comes as a surprise to most couples. Under a law passed… Read More »
Medi-Cal’s Plan To Ensure the Healthy Spouse Has Enough Income: the MMMNA
Q. My husband may need to go into a nursing home soon and I am looking into a Medi-Cal subsidy to help with the cost. In your recent post you wrote that Medi-Cal permits the well spouse to retain up to $115,920 in savings as a kind of safety net, and even more with planning…. Read More »
Inheritance While on Medi-Cal?
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,… Read More »
Should We Sell Mom’s Home To Pay For Her Care?
Q. Our mother is in assisted living and may need to go into a nursing home soon. To raise money for her ongoing care, we are thinking of selling her home which is now vacant. Any thoughts as to whether that makes sense? A. Yes. In some cases, selling the home may be appropriate. However,… Read More »