A charitable trust is an excellent way to accomplish a number of estate planning goals all at once. If giving to a cause dear to you heart is important to you, then creating a trust allows you to do so even after you are gone. In addition, you can structure a trust to provide for both a charity and non-charitable beneficiaries by creating a lead or a remainder split interest trust. Both lead and remainder trusts may also offer tax and probate avoidance benefits as well. Whether you decide on a … [Read more...] about Charitable Trusts — Lead or Remainder?
You, and every person over the age of 18, need two powers of attorney. A power of attorney names a trusted helper to act on your behalf when you are unable to do so yourself. The Financial Power of Attorney The financial power of attorney authorizes your trusted helper to sign your name and conduct business on your behalf should you become incapacitated. Your trusted helper is called an “agent” or “attorney in fact,” depending on state law. It is wise to name a succession of agents in … [Read more...] about You Need Two Powers of Attorney
So, you’ve been putting off the need to plan, right? Were you hoping to plan later in life, so that you could focus on what today has to offer? While your life may currently be busy and exciting, you need to take the time to make difficult decisions, so that you have control over your future affairs. If you neglect the need to plan, you will have no control. Many people seem to think that estate planning is an option; however, if you care about anyone or you want to stay in … [Read more...] about Estate Planning is a Necessity
You have likely heard at least one horrible story recently that involves elder abuse and/or neglect. Sadly, elder abuse is becoming a common topic in the news media given the frequency with which it occurs in the United States. While you may be aware that elder abuse is a very real problem in the U.S., you may not know everything that you need to know. With that in mind, a Roseville elder law attorney at the Northern California Center for Estate Planning & Elder Law discusses the little … [Read more...] about The Truth about Elder Abuse
Estate planning should cover more than just the disposition of your estate assets when you are gone. A well-rounded estate plan should also help you plan for the possibility of your incapacity or disability. By including a disability planning component to your comprehensive estate plan, you can rest assured that you, your assets, and your loved ones will be protected should disability strike. To better help you understand the importance of disability planning, the disability planning staff at … [Read more...] about Disability Planning within Your Estate Plan
While you may prefer not to think about it, the reality is that you, or a spouse, may need long-term care at some point in the future. If you do end up needing long-term care (LTC) you may find yourself turning to Medicaid (known as Medi-Cal in California) for help covering the cost of that care. Because you may need to qualify for Medi-Cal, and the eligibility guidelines are complex, LTC expenses are something that should be addressed within your comprehensive estate plan to ensure that you … [Read more...] about Understanding Medi-Cal Spend-Down
Your estate plan should focus on more than just the distribution of your assets after you are gone. Which additional goals you include in your plan will depend on your unique needs and wishes. One component you may want to consider including in your estate plan, however, is nursing home planning. The staff at the Northern California Center for Estate Planning & Elder Law discuss why nursing home planning is important. Will You Need Nursing Home Care? The average life expectancy in the … [Read more...] about Why Is Nursing Home Planning Important?
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. While healthcare systems have fought the virus, economies have been hurt by the social distancing required to combat the virus. However, there may be an opportunity for those wishing to do certain types of Estate Planning. Read this article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Read on to learn more … [Read more...] about Economic Fallout from Coronavirus May Provide Opportunities
The novel coronavirus, COVID-19, is spreading in the United States and across the globe. Social distancing and self-quarantine can help slow the spread. The virus is a particular threat to residents of nursing homes. Read this article by my friend and colleague Steve Hartnett, an estate planning expert, on to learn more about the threat and how you can keep your loved ones safe. Read on to learn more … [Read more...] about Coronavirus and Nursing Homes
When you create your Last Will and Testament you will have to make a number of decisions. Although you may not realize it, one of the most important of those is the appointment of your Executor. To help you better understand why you should choose your Executor carefully, the staff at the Northern California Center for Estate Planning & Elder Law discuss the duties of a Sacramento Executor. Executor Duties Initiating the Probate Process. As soon after your death as possible, your … [Read more...] about What Are the Duties of an Executor?