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 »

The Ethical Will: Putting Your Values on Paper

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 »

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 »

Medi-Cal Myths Uncovered

Q.  In talking with friends, I discovered a lot of misunderstanding about how the Medi-Cal program works if one needs help with the high cost of nursing home care. I wonder if you would clarify matters. A. Sure. I have also discovered much misunderstanding, even among care professionals. Here are the most common “myths” regarding the… Read More »

Under the CARES Act, You May Be Eligible To Withdraw Up to $100k From Your IRA Without Penalty and “Maybe” Without Tax

Q. I hear that under the CARES Act, my wife and I may each be able to withdraw up to $100K from our IRA’s without penalty and without tax. Is that true? A. Well, not quite. Here’s the deal: Under the recently passed Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), Congress did recently… Read More »