Some folks want to avoid estate planning because they associate it with death. However, estate planning is NOT just about death. In fact, good estate planning is focused on life, including retirement planning, college planning, gifting programs, charitable planning, asset ownership, asset protection, disability protection, and tax strategies. An experienced and qualified estate planning attorney can design a comprehensive estate plan that protects you and your family, while you’re alive … [Read more...]
Estate Planning Considerations Besides Death Taxes
In recent years, the amount that can be left to loved ones without having to pay the so-called "death tax" has risen to levels most Americans will never reach. For example, in 2018, the estate tax, which is often referred to as the "death tax" does not apply to persons who die this year with less than $11.18 million dollars. For married couples, effective planning can double that amount. This rise in the estate tax exemption has led many to wrongly conclude that estate planning is no longer … [Read more...]
Disability Rights California Provides Protection and Advocacy
Residents of California who have a disability or a loved one with a disability have many resources available to them. One of those valuable resources is Disability Rights California. This organization provides advocacy for important issues facing individuals with disabilities, even when the outcome is unclear. Their approach is multi-faceted, including self-advocacy, legal, non-legal, media, public policy, legislative and investigatory. Disability Rights California values diversity by … [Read more...]
Disability Planning Can Save Your Government Benefits
Whether you have a child with special needs or you have a parent dealing with health-related disabilities, disability planning is something you should definitely consider. Regardless of where you child or parent may fall on the disability spectrum, you will want to ensure that your loved one has sufficient resources to be well-cared for in the future, without jeopardizing their eligibility for government benefits. Here are a few things to remember about disability planning. Why Is Disability … [Read more...]
Practical Steps Checklist for your Financial Power of Attorney
Step 1: Review it. Before ever trying to use your power of attorney you should always have an experienced and qualified estate planning lawyer review it. This is especially important if such a lawyer lawyer didn't make it for you. No third party will honor a financial power of attorney if it doesn't comply with state laws because they risk being held responsible if they do. Many boilerplate powers of attorney found in stores, on CDs or on the Internet are incomplete and defective and may not … [Read more...]
California Advance Health Care Directive – 5 Important Elements
Element 1: Health care power of attorney. A California Advance Health Care Directive (AHCD), which is the California version of a document also known as a health care power of attorney, will let you choose someone who can be responsible for making medical decisions on your behalf should you ever become unconscious or otherwise incapacitated. While you can choose whomever you wish, that person should always be a capable adult who can be easily reached by your health care providers in case of an … [Read more...]
VA Aid and Attendance: The Basics – Part 3 of 3
APPLYING FOR VA BENEFITS Gathering and preparing the right documents is critical. Once you gather the right documentation, the next step is to complete and submit the appropriate application form. The process generally takes at least several months, so make sure you do your best to avoid any additional delays along the way. Keep in mind, while applying and qualifying does take time, benefit payments are retroactive to the date the VA received the application. During this time, the applicant … [Read more...]
VA Aid and Attendance: The Basics Part 2 of 3
QUALIFIYING FOR AID & ATTENDANCE BENEFITS Who is eligible for the VA Aid & Attendance Pension? First let’s look at the basics. For a qualifying wartime veteran or surviving spouse to qualify for this special monthly pension, the veteran must have: · Served at least 90 days of active military service · Served at least one day during a period of war (WWII, Korea, Vietnam, Iraq and Afghanistan). The applicable periods are generally broader than expected. · Been discharged under … [Read more...]
Planning Considerations for Real Families
In an ideal world, all of our children or other beneficiaries would be fully grown, responsible, and disability-free upon our deaths. However, we don’t live in a perfect world and unforeseen circumstances often exist. Whether your beneficiaries are minors, are receiving assistance from the government based on a disability, or are otherwise not in the best position to manage an inheritance, there are plenty of great solutions available through proper estate planning. If your beneficiary is a … [Read more...]
The Addicted Beneficiary: A Problem and a Solution
If one of your loved ones has a substance abuse problem, an inheritance may make the addiction worse or even kill him or her. At the least, the inheritance is likely to be squandered. For anyone who has an addiction such as drugs or alcohol, it is best to pass the inheritance in trust, not outright. How Outright Inheritances Work Outright gifts pass into your beneficiary’s individual name. They are within your beneficiary’s full control, to be spent any way he deems appropriate. This may … [Read more...]
