A Health Care Power of Attorney appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. During the COVID-19 pandemic, it’s important to have them up-to-date. My friend and colleague Steve Hartnett, an estate planning expert, offers the following timely advice. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic
What Is a HIPAA Release?
The acronym HIPAA stands for the Health Insurance Portability and Accountability Act of 1996. In this post, we will explain why this piece of legislation is something to take into consideration when you are planning your estate. Advance Directives for Health Care Everyone is well aware of the fact that you have to facilitate postmortem asset transfers when you put your estate plan in place. A lot of people think this is the long and short of it, but a proper estate plan will also address … [Read more...] about What Is a HIPAA Release?
Staying Current is Especially Important in the Pandemic
The President’s bout with COVID-19 demonstrates the importance of keeping planning current. An Advance Health Care Directive appoints someone to make decisions for you if you’re not able to do so for yourself. An Advance Directive expresses your wishes regarding end-of-life decisions. Follow this link to a blog written by my friend and colleague Steve Hartnett, an estate planning expert. Read on to learn more. … [Read more...] about Staying Current is Especially Important in the Pandemic
Understanding Trust Administration
In recent years, trusts have become a commonplace addition to even the simplest estate plan. Unfortunately, the creator of a trust does not always discuss the appointment of a Trustee with the intended Trustee. If you recently learned that you were appointed as a Trustee, and you have never served as a Trustee, you probably do not know where to begin in your trust administration duties. A Sacramento trust administration attorney at the Northern California Center for Estate Planning & … [Read more...] about Understanding Trust Administration
When Is Conservator of a Parent Warranted?
A strange, and often uncomfortable thing, frequently happens as our parents age – a sort of role reversal begins to occur. The parent who has been your caregiver, your rock, for as far back as you can remember begins to appear weak and vulnerable – and in need of a caregiver. Like many adult children, you may find yourself becoming the caregiver to an aging parent who appears to become more childlike with each passing day. At what point do you need to consider petitioning for conservatorship … [Read more...] about When Is Conservator of a Parent Warranted?
Understanding the Spousal Impoverishment Rules
If you are currently enjoying your retirement years, or will be soon, there is a good chance that you will face the need for long-term care (LTC) for you, or a spouse, at some point down the road. If that time does come to pass, covering the cost of LTC may involve qualifying for Medi-Cal benefits. Medi-Cal is California's version of the federal Medicaid program. Like many people, you may have heard stories about impoverished spouses that have you concerned about relying on Medi-Cal for help … [Read more...] about Understanding the Spousal Impoverishment Rules
The New Trustee’s Trust Administration Checklist
Not all that long ago, trusts were used almost exclusively by wealthy families as a tool to pass down the family wealth while maintaining a certain degree of control over how that wealth is used by future generations. Trust have evolved, however, to the point where it is now common to find a trust in even a relatively simple estate plan. When a trust is created, the trust creator must appoint a Trustee to administer the trust. If you recently learned that you were appointed to be the Trustee of … [Read more...] about The New Trustee’s Trust Administration Checklist
Why You Need to Plan for the Cost of Dying
Protecting your loved ones is likely an important reason why you created an estate plan. For your estate plan to fully protect you and your loved ones, however, you may need to incorporate funeral planning into the plan. While it may not be easy to consider, the reality is that protecting your loved ones often calls for you to consider your own death. To help you understand, let's look why you need to plan for the cost of dying. Death Is Expensive Thinking of your death and funeral in … [Read more...] about Why You Need to Plan for the Cost of Dying
Changes to Make Following the Death of a Spouse
The loss of a spouse is one of the most emotional experiences you will probably have to go through over the course of your life. The last thing you may wish to think about while you are grieving the loss of a spouse is something as seemingly mundane as updating your estate plan. Failing to do so, however, could lead to some unintended and unwanted consequences. Let's explore some common changes that you may wish to your estate plan following the death of a spouse. Last Will and Testament – … [Read more...] about Changes to Make Following the Death of a Spouse
Understanding Your Life Insurance Options
Life insurance often plays an important role in a comprehensive estate plan. It can, however, play very different roles within that plan. The purpose a life insurance policy has within your estate plan will determine, to a large extent, which type of insurance you should purpose. Understanding the different types of life insurance policies available is clearly important. Let's explore your life insurance options. Types of Life Insurance While there are some hybrids and variations of … [Read more...] about Understanding Your Life Insurance Options
