Ideally, you already incorporated Medi-Cal planning into your estate plan years ago so that you will be eligible for Medi-Cal (California’s Medicaid program) when you need it. What happens though if you did not plan ahead and now suddenly need to qualify for Medi-Cal? Let's explore how last-minute Medi-Cal planning may still be able to help you. Why Might I Need to Qualify for Medi-Cal? Have you reached a point at which you need of the type of care that can only be provided by a nursing … [Read more...] about Is It Too Late for Medi-Cal Planning?
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Social Media and Elder Abuse – How to Protect Yourself
For grandparents and other older family members, their best (and sometimes only) opportunity to find out what is going on in a grandchild’s life is through that grandchild’s posts on social media. The problem with that is that it is not only the grandkids who might be surfing your social media posts if you are a senior. Scam artists and other predators who prey on older victims may also be scouring your posts for helpful information. Let's explore how social media can lead to elder … [Read more...] about Social Media and Elder Abuse – How to Protect Yourself
Should I Petition for Conservatorship of My Parent?
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 Should I Petition for Conservatorship of My Parent?
Why You Should Choose a Successor Trustee
Given how popular trusts have become in recent decades, there is a very good chance that you will choose to incorporate a trust into your overall estate plan. If you do, you will need to choose a Trustee to administer the trust. A common mistake to avoid, however, is failing to also name a successor Trustee. Let's explore why you should choose a successor Trustee. Trust Basics Trusts can be broadly divided into one of two categories – testamentary or living (inter vivos) trusts. … [Read more...] about Why You Should Choose a Successor Trustee
Wills and Trusts Basics
Estate planning can seem a little overwhelming to someone who is new to the concept. Knowing that the components that make up your estate plan will likely represent the most important set of legal documents you execute over the course of your life can be intimidating. Along with the need to make potentially life-altering decisions, you will also need to work with estate planning tools and strategies that are unfamiliar to you. Among the most basic of those tools are a Last Will and Testament and … [Read more...] about Wills and Trusts Basics
Is Conservatorship Over My Parent the Best Answer?
Are you an adult child who is having to watch your parent’s physical and/or mental health deteriorate? Are you concerned about your parent’s physical safety and/or ability to handle finances as a result of that deterioration? If so, you are probably struggling with a solution. Like most people in your position, the idea of taking away your parent’s independence by pursuing guardianship may not sit well with you. On the other hand, doing nothing could result in serious harm to your parent or to … [Read more...] about Is Conservatorship Over My Parent the Best Answer?
Key Things Every Trustee Needs to Know
Were you recently informed that someone appointed you to be the Trustee of a trust? If so, and this is the first time you served as Trustee, there are a few things you need to know before stepping into your role as a Trustee. To get you started, let's look at some key things every Trustee needs to know. A Trustee has several important duties and responsibilities. The overall job of a Trustee is to manage and invest trust assets and to oversee the administration of the trust. Generally, the … [Read more...] about Key Things Every Trustee Needs to Know
Using a Trust to Help with LGBTQ Estate Planning
Recent legal victories within the LGBT community have certainly provided reason to celebrate; however, until absolute legal equality exists comprehensive estate planning remains crucial. With that in mind, let's see how a trust can help with LGBT estate planning. Legal Victories After decades of fighting for equality, one of the most important LGBTQ battles was finally won in 2015. In the historic case of Obergefell v. Hodges, the Supreme Court of the United States finally declared that … [Read more...] about Using a Trust to Help with LGBTQ Estate Planning
Planning Now for the Possible Lowering of the Estate Tax Exclusion
There is a great deal of legislation pending in Congress and much is uncertain. But this much is certain, under current law, the estate tax exclusion will go down by half beginning 2026 . Now may be the time to plan for such a change. My friend and colleague Steve Hartnett, an estate planning expert, shares his thoughts. Read on to learn more. … [Read more...] about Planning Now for the Possible Lowering of the Estate Tax Exclusion
Post-Pandemic Updating: Beneficiary Designations
This is part of a series of articles on updating your plan now that we are emerging from the Covid pandemic. This article examines why it is important to make sure beneficiary designations are up-to-date. A beneficiary designation instructs where the asset goes upon your death. Some important assets which transfer by beneficiary designation are IRAs, 401(k)s, and life insurance. These assets could be a large part of your overall assets, so it’s important to make sure those beneficiary … [Read more...] about Post-Pandemic Updating: Beneficiary Designations
