When elderly parents require more help than an in-home caregiver can provide, we recommend you take the following steps to learn about long term care before committing to relocate your parents.
Category Archives: California Law
Assets, California Law, Estate Planning, Heirs, Inheritance, Taxes, Trustee, Uncategorized
Wealth Transfer Checklist
23
Jul
Jul
To help your loved ones avoid this troubling statistic, educate, and update your extended family about wealth transfer goals. Finally, it alerts them to the plan you created to achieve these goals.
16
Jul
Jul
The person who was paid must not have been reimbursed by their insurance company. Reimbursed amounts do not qualify for eligibility under the unlimited medical exclusion tax-free gift category.
Assets, California Law, Estate Planning, Inheritance, Taxes
Inheritance: Leave Gifts for Grandchildren
25
Jun
Jun
From a practical perspective, the grandchildren’s parents often understand how to use the money for the benefit of their children. What’s more, they may spend or invest it appropriately on their children’s behalf.
California Law, Estate Attorney, Estate Planning, Guardianship, Heirs, Trusts, Wills
Beneficiary Designations
18
Jun
Jun
If something happens, a successor trustee you previously selected steps in without court involvement. In such a case, they manage the trust on your behalf. You can also designate what happens to the trust’s money and property at your death.
Assets, California Law, Estate Planning, Heirs, Inheritance, Trusts, Uncategorized
Disinherit Your Children?
30
Apr
Apr
Regardless of why a parent would disinherit a child, they should not disinherit as a tool to manipulate. Disinherited children may feel angry. This could lead to turmoil within the family.
California Law, Estate Attorney, Estate Planning, Heirs, Inheritance, Trusts
Inheritance: Don’t Give it to Creditors
26
Mar
Mar
An SRT is a special type of trust. It designates the intended beneficiary of your retirement accounts after you die.
12
Mar
Mar
An important first step for creating an estate plan? Take an inventory of your money and property. Regardless of your wealth or financial struggles, everything you own is part of your estate and should be listed–or at least accounted for– in your inventory.
California Law, Estate Planning, Inheritance, Life Changes, Trusts, Wills
Incapacity-Proof Your Estate Plan
05
Feb
Feb
Most people agree that a long life is good. However, life alone does not guarantee ideal circumstances. For example, longevity, coupled with physical or mental incapacity, can prove challenging.
California Law, Dementia, Estate Planning, Trusts, Uncategorized
The Importance of a Successor Trustee
23
Jan
Jan
Healthcare documents (such as a Medical POA, Advanced Directive or Living Will, and Health Insurance Portability and Accountability Act (HIPAA) authorization form) primarily focus on medical matters. However, they may also impact the financial matters handled by the successor trustee.