As the population of older Americans continues to grow at a historic rate, the number of people suffering from Alzheimer’s disease grows as well. Despite efforts to raise awareness about the disease, it remains somewhat of a mystery to most of us. Consequently, if you are diagnosed with Alzheimer’s, you may not know what to do. To help you regain some of the control you may feel you lost with the diagnosis, here are some practical steps to take after an Alzheimer’s diagnosis. What Is … [Read more...]
How to Choose the Right Trustee
Creating a successful estate plan requires you to make a number of important decisions. If you elect to incorporate a trust into your comprehensive estate plan, one of those decisions will involve the appointment of a Trustee for your trust. Because naming the wrong person as Trustee is among the most common causes of a trust failing, it is imperative that you take your time and choose the right person for the position. Here are some tips to ensure that your Trustee is the right person for the … [Read more...]
Can a Beneficiary Get Rid of a Trustee?
If you are a beneficiary of a trust it means that you are entitled to benefit from the assets held by the trust. It also means you have a number of important rights as a beneficiary. If you are concerned about the manner in which the Trustee is administering the trust, you may be wondering if your rights include the ability to remove the Trustee. In this blog, we will discuss when and how a beneficiary may be able to remove a Trustee. Reasons to Remove a Trustee The overall job of a Trustee is … [Read more...]
5 Important Things to Remember If You Are a Trustee
Did you recently learn that someone appointed you to be the Trustee of a trust they created? If this also the first time you have ever served as a Trustee? If so, you probably don’t know what to expect or where to begin. Although the administration of every trust is unique, the Roseville trust administration attorneys as the Northern California Center for Estate Planning & Elder Law offer five important things to remember if you are a Trustee. Trust Administration Basics The overall job of … [Read more...]
Learn More about Medi-Cal Planning during Older Americans Month
If you are a senior yourself, or will be in the near future, the month of May should hold particular significance for you. Each May we celebrate Older Americans Month in the United States. This year, if you do not already have a Medi-Cal planning component in your estate plan, Older Americans Month is an excellent time to learn more about the benefits of Medi-Cal planning. The Historic Increase in the Older American Population Over the last several decades, the population of older Americans … [Read more...]
California Finally Approves ABLE Accounts
At long last, California has rolled out its ABLE accounts. Authorized by a federal law entitled the Achieving a Better Life Experience (or ABLE) Act, it is designed to make available additional funds to persons with disabilities who receive public benefits. The ABLE Act is administered at the state level and California finally began formally recognizing ABLE accounts in late December. ABLE accounts are like Section 529 plans. But, while 529 plans are for education expenses, ABLE accounts … [Read more...]
You May Still Face Probate After Creating Your Living Trust
Many folks create living trusts to, among other reasons, avoid the high costs of a California probate proceeding. Regrettably, some may think they’re saving money even more with do-it-yourself kits, Internet trusts, or by working with a paralegal or a general practitioner. If you go those routes, you increase your chances that your living trust may not avoid probate. Even with a high quality trust, failing to follow through with the “funding” process could trigger a probate. Why Won’t my … [Read more...]
What Are 529 Plans and What Are Their Advantages?
What are 529 plans? Can they be held in trusts? Read this blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about these plans and why to consider them. What Are 529 Plans and What Are Their Advantages? … [Read more...]
ABLE Accounts
An ABLE account is a great strategy for someone who became disabled by age 26. An ABLE account may be income tax-free. It has other unique benefits for a disabled person. Read this blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about the ABLE account and how it can help. ABLE Accounts … [Read more...]
Will My Father Qualify for Medi-Cal?
In recent years, more and more adult children are taking on the role of caregiver to an aging parent in the United States. As the population of older Americans continues to increase, healthcare for seniors has become a hot topic as well. If you have a parent whose health is deteriorating, now is the time to start worrying about the high cost of long-term care (LTC), if you have not already done so. At an average cost of almost $10,000 a month in California, may seniors must rely on Medi-Cal to … [Read more...]
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