Nursing home asset protection is a very big deal when you understand all of the facts. It would be natural to assume that Medicare will pay for nursing home care if you ever need it, but in reality, the program does not pay for custodial. The Medicare program will often cover rehabilitative care after release from a hospital following an injury or illness, but it will not pay for custodial care. Paying out-of-pocket is really not a sensible option for most people, because long-term care costs … [Read more...] about Californians Can Take Advantage of Added Nursing Home Asset Protection
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Is There a One-Size-Fits-All Estate Plan?
Instant gratification has become the expectation in many cases during our current era, and this is largely due to the emergence of the Internet. Without question, the fact that you can obtain information about anything with the click of a mouse is a very good thing, but there are some pitfalls to avoid. From a commercial perspective, there are many different offers out there. The idea is that you can sidestep the need for professional assistance if you use simple tools that are offered online. … [Read more...] about Is There a One-Size-Fits-All Estate Plan?
Using Powers of Attorney in California: Questions and Answers
Using Powers of Attorney in California: Questions and Answers from Timothy Murphy Powers of attorney give someone else the ability to represent your interests or make decisions on your behalf. Learn more about powers of attorney in California in this presentation. … [Read more...] about Using Powers of Attorney in California: Questions and Answers
Medi-Cal and Long-Term Care: A Primer
You should understand the basics when it comes to Medi-Cal and long-term care. Many aging persons will require living assistance at some point in time, and Medicare will not pay for help with your activities of daily living. Nursing homes and assisted living communities are extremely expensive, and in-home care givers are also costly. Medi-Cal does pay for long-term care, and it is the solution for many Californians. In this post, we will provide some basic information about the Medi-Cal … [Read more...] about Medi-Cal and Long-Term Care: A Primer
What Is A Northern California Qualified Domestic Trust
What Is A Northern California Qualified Domestic Trust from Timothy Murphy After the death of your spouse, the remainder in the qualified domestic trust would go to secondary beneficiaries that you name in the trust declaration. Learn more about Northern California qualified domestic trust in this presentation. … [Read more...] about What Is A Northern California Qualified Domestic Trust
What Is Sandwich Generation Planning?
In recent years, sandwich generation planning has emerged as a major elder law issue. There is an unprecedented aging of the population underway, because the baby boomers are reaching retirement age. As people get older, role reversals can enter the broader family dynamic. People who obtain senior citizen status often need help in various ways. During this period of time, their children may provide support, but they are going to have their own parental concerns as well. Young adult children … [Read more...] about What Is Sandwich Generation Planning?
What Is a Northern California Durable Power of Attorney
What Is a Northern California Durable Power of Attorney from Timothy Murphy When a general power of attorney has been granted, the agent has sweeping power The agent could act on behalf of the grantor in a comprehensive manner. Durable powers of attorney are used for incapacity planning purposes. Learn more about Northern California durable power of Attorney in this presentation. … [Read more...] about What Is a Northern California Durable Power of Attorney
Tax-Free Gifting Is Possible
You may be aware of the existence of the federal estate tax. This tax can significantly erode your wealth, because it carries a 40 percent maximum rate. There is a marital deduction that allows you to transfer unlimited assets to your spouse tax-free, as long as your spouse is an American citizen, but transfers to others can be subject to taxation. Lifetime gift giving could seem like the solution if you are exposed to the estate tax. You could simply give your loved ones their inheritances in … [Read more...] about Tax-Free Gifting Is Possible
Does a Revocable Living Trust Protect Assets
Does a Revocable Living Trust Protect Assets from Timothy Murphy Among other strategies, the trusts that would be used to protect assets would be irrevocable trusts. With this type of trust, you surrender the incidents of ownership. As a result, the assets in the trust would not be in play if you were to become the target of a lawsuit. Learn more about revocable living trust protect assets in this presentation. … [Read more...] about Does a Revocable Living Trust Protect Assets
How Expensive are Nursing Homes in Northern California
How Expensive are Nursing Homes in Northern California from Timothy Murphy There are certain eventualities that you may face, and you should prepare yourself in advance. Learn more about nursing homes in Northern California in this presentation. … [Read more...] about How Expensive are Nursing Homes in Northern California
