Q. I heard that, as part of the recently passed Trump Tax Bill, that home equity will become a factor for Medi-Cal eligibility, at least for Seniors. That wasn’t really discussed in the press. Is it true? A. Yes, indeed, effective January 1, 2028. You are correct that this issue was not really discussed in… Read More »
Posts Categorized: Uncategorized
A Different Gift Idea That Sends Powerful Message to 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 »
Does Your Estate Plan Cover Digital Assets?
Q. I am a frequent user of Facebook and other social media accounts, and I sometimes wonder what would happen to my accounts upon my death. Would my family be able to access my posts or terminate my accounts? A. Under a California law that went into effect January 1, 2017, the answer is “yes”,… Read More »
How to Increase the Chance that Your Power Of Attorney Will Be Honored
Q. I have heard friends complain that their parent’s financial Power of Attorney document was not honored by their parent’s own bank. Is there a way to avoid this? A. Unfortunately, we hear that complaint from time to time. While there may be no way to draft a power of attorney that completely eliminate the… Read More »
Financial Tool To Protect Seniors From Financial Scams: the ‘Trusted Contact Person’
Q. My 90 year old father has a substantial brokerage account and likes to manage it himself. Yet I worry that he could easily fall victim to financial scams. Is there anything I can do to protect him? A. Yes, there may be. The Financial Industry Regulatory Authority (“FINRA”), which regulates firms and professionals selling… Read More »
Powers of Attorney Come in Many Forms
Q: My friends and I were recently discussing our estate plans, and the subject of Powers of Attorney came up. It seems that we have different understandings as to what they look like and how they can be used. Can you provide me with a short lesson which I can share with my friends? A. … Read More »
Does Your Older Trust Need An Update?
Q. My wife and I had our Living Trust prepared back in the year 2001. I hear there have been changes in tax law since then which might affect us. Is it time to have our trust reviewed? A. Yes, Indeed!. When you created your own trust, the estate tax exemption was much smaller than… Read More »
What’s Involved in Administering a Trust?
Q. My father recently died. His home, bank accounts and other assets were held in a Living Trust. His financial advisor said we should now engage a lawyer to help with trust administration. What? I thought if you had a Living Trust that there was little or nothing to do following the death of the… Read More »
Can Beneficiaries Be Changed After Death?
Q. My mother just died, and her will leaves her estate equally to us three children. I am fairly well-off, but my two brothers are not quite as fortunate. Is there a way that I can redirect some or all of my share to them in a tax efficient way? A. The answer may very… Read More »
New Medi-Cal Rules Make It Easier To Qualify for Financial Assistance
Q. My mother will need care in a Nursing Home, but the cost is beyond our reach. I understand that Medi-Cal can help subsidize that cost if she were eligible for that financial assistance. I also heard that there are new rules now in place that may make it easier for her to qualify. Can… Read More »