A power of attorney (poa) is a document that most people have a general understanding of, but you may wonder why a POA would be relevant when you are planning your estate. A comprehensive estate plan will go beyond asset transfer vehicles. You also want to address the eventualities of aging. People are living longer and longer lives, and it becomes likely that you will live into your eighties if you are fortunate enough to reach the age of 65. The oldest segment of the population is growing … [Read more...] about When Does a Power of Attorney Become Effective?
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Free Report: Northern California Powers of Attorney and Your Estate Plan
To create a power of attorney you have to be a capable adult of sound mind. You are never under any legal obligation to create a principal—agent relationship, nor do you have to accept the offer to serve as someone’s agent. Topics covered in this report include: Principals and Agents Attorneys in Powers of Attorney Types of Powers Using Powers of Attorney Correctly Click here to read the whole article or download the PDF. … [Read more...] about Free Report: Northern California Powers of Attorney and Your Estate Plan
Medi-Cal Planning: When Is it Too Late?
They say that aging is not always easy, and there are certainly some serious things to take into consideration when you are looking ahead toward your elder years. Most of the senior citizens in the United States will eventually need help with their day-to-day needs. Long-term care is very expensive, and Medicare will not pay for it. This is why Medi-Cal planning is important to many people here in California. You are probably aware of the fact that Medi-Cal is California's version of the … [Read more...] about Medi-Cal Planning: When Is it Too Late?
Is There a Medi-cal Asset Limit in Northern California
Is There a Medi-cal Asset Limit in Northern California from Timothy Murphy This is a health insurance program that is jointly administered by the federal government along with each state government. Learn more about medi-cal asset limit in Northern California in this presentation. … [Read more...] about Is There a Medi-cal Asset Limit in Northern California
How Do Elder Law Attorneys Charge?
Sometimes you make a relatively small investment in the present so that you can save a great deal of money in the future. This is a dynamic that enters the picture when you are looking at the value of a consultation with an elder law attorney. Before we get into the matter of money, we should explain exactly what elder law attorneys do, and we should also look at the reasons why you may want to consult with one. Senior Issues Elder law attorneys focus their practices on senior issues. You … [Read more...] about How Do Elder Law Attorneys Charge?
Why Would Someone Avoid Probate?
There is a legal process called probate that will often enter the picture when an estate is being administered. Generally speaking, property that is in your direct personal possession when you pass away would be looked upon as probate property. The transfer of the property would take place under the supervision of the probate court. We should point out the fact that property that would usually be probate property could be transferred outside of the full probate process in California under … [Read more...] about Why Would Someone Avoid Probate?
When Will I Qualify for Social Security?
When you are looking ahead toward your retirement years, you probably view Social Security as a future financial foundation. Without question, most people are going to rely upon Social Security to one extent or another, so you should know all of the facts. Retirement Credits You do not automatically qualify for Social Security when you reach a particular age. To qualify for Social Security, you have to accumulate sufficient retirement credits. You earn these credits while you are paying FICA … [Read more...] about When Will I Qualify for Social Security?
When Would I Use a Special Needs Trust?
A special needs trust is a type of trust that can be used to set aside resources for the benefit of a person with a disability without disrupting need-based government benefit eligibility. In this blog, we will look at some scenarios that would call for the creation of a special needs trust. Direct Gifts and Inheritances Let's say that you have someone in your family who has a disability who is enrolled in the Medicaid program. Medicaid is a health insurance program, and it is only … [Read more...] about When Would I Use a Special Needs Trust?
Time for an Estate Plan Check Up?
For too many folks, estate plans are something they create, set aside, and don’t think about after they have gone through the creation process. While this may not be a problem for years, it could be a problem down the road. Further, because your plan has been dormant for so long, there could be significant problems with it that you simply do not know about. Here are several reasons why you should review your estate plan on a regular basis. Review your estate plan because the laws change. For … [Read more...] about Time for an Estate Plan Check Up?
Estate Planning for the LGBTQ+ Community
There was once a time when estate planning for the LGBTQ+ community was a very particular, specialized endeavor. This was because of the fact that the federal and state laws did not recognize same-sex marriages. At that time, if you did not have an estate plan as a married person, your surviving spouse would have certain rights. This was not a possibility for committed same-sex couples. At the present time, same-sex marriages are legal in the state of California, and they are also being … [Read more...] about Estate Planning for the LGBTQ+ Community
