by Dedra Jize, OT, CSAGeriatric Care Manager, Law Offices of Roy W. LitherlandA trip or stumble can easily become a fall to the ground for an older adult, which can have devastating consequences physically, emotionally, and financially. Fall statistics have improved over the years for older adults aged 65+, but they are still unacceptable as one-fourth of older adults will fall each year. The unsettling fact is that a senior falls every 11 seconds resulting in a trip to the emergency room, … [Read more...]
Does an Inheritance Count for Medi-Cal? (An Elder Law Today Blog)
Timing is everything. How often have you heard someone express that sentiment? And while it’s often true of life in general, it’s certainly true in Medi-Cal planning.So, does an inheritance count as an asset for Medi-Cal purposes? For a single person, the answer is clearly, “Yes.” If a single individual is spending down his or her assets, and before the spend-down is completed, that individual receives an inheritance, then those assets are added into whatever that person has and must be … [Read more...]
Free Living Trust Seminars April 29, May 2, 4 and 6
Helping to keep our community informed is important to us. We regularly get out into the community to provide helpful information to people here in the greater San Jose area. To this end, we present an ongoing series of informational workshops covering various elder care and estate planning topics.Our workshops and seminars are free of charge and open to the public. During the next two weeks, we will be offering seminars that focus on living trusts.Why Consider a Living Trust?Some … [Read more...]
Hospital Discharge: Making the Transition to Home or a Skilled Nursing Facility
by: Guest Blogger Renee Seligman, Patient AdvocateWhen caring for a senior who is going to be discharged from the hospital, it is important to address the following: Medication Reconciliation: Often the attending physician at the hospital will make changes to a patient’s medication list. It is important to reconcile the list prior to discharge with the hospital’s Discharge Coordinator or Nurse Case Manager to ensure accuracy. All prescriptions that need filling must be sent to the … [Read more...]
Latest Genworth Survey Released Regarding Long-Term Care Costs (An Elder Law Today Blog)
Members of the elder law community are becoming increasingly concerned about the high and rising cost of long-term care. People are living longer than ever before, with the oldest among us being the fastest growing age group. Most people who reach senior citizen status will indeed need long-term care at some point in their lives; therefore, this is something that is relevant to all of us.It is important to understand that Medicare does not cover long-term care costs. With this in mind, … [Read more...]
Limits to Medi-Cal Recovery (An Elder Law Today Blog)
By: Matthew M. Shafae, AttorneyLaw Office of Roy W. LitherlandThe future of Medi-Cal eligibility has been the subject of speculation for a little over a decade now. Will the California implementation of the federal Medicaid system, known as Medi-Cal, finally implement federal laws enacted back in 2005? And now, with a Republican president-elect and a Congress with a Republican majority in both houses, it appears Medicaid funding may be an additional topic for speculation. How will Medicaid … [Read more...]
Special Needs Trusts: Two Words to Say Fairness
By: Matthew M. Shafae, AttorneyLaw Office of Roy W. LitherlandSpecial Needs Trusts (also called Supplemental Needs Trusts) are specific types of trusts that allow a disabled person to be the beneficiary of a trust while not interrupting his/her eligibility to receive government assistance. Without a Special Needs Trust, persons with disabilities risk losing government benefits if they receive an inheritance, a personal injury award, or receive other funds.In 1993, the Omnibus Budget … [Read more...]
Exclusion of Gains from Sale of Personal Residence
By: Justin M. Kennedy, AttorneyLaw Office of Roy W. LitherlandI spoke with a client, William, the other day who shared that he purchased his home many years ago for fifty thousand dollars ($50,000). That same home is now worth an estimated one and a half million dollars ($1,500,000). If the home was sold today, the capital gains taxes would be calculated on the difference between the sale price ($1,500,000) and the basis in the property ($50,000), for a taxable gain of $1,450,000. At the … [Read more...]
Clayton Trust – The Advantages of the B-Trust
By: Justin M. Kennedy, AttorneyLaw Office of Roy W. LitherlandPrior to 2014, for married clients with estates valued at over one million dollar ($1,000,000), our office often recommended ABC Trusts. This trust structure was used to preserve the Deceased Spouse’s estate tax exemption. For much of that time, there was a one million dollar ($1,000,000) estate tax exemption. Utilizing the ABC Trust structure allowed you to double that, to be able to pass two million dollars ($2,000,000) free of … [Read more...]
Litherland Law Office 2017 Government Policy Forecast
By: Matthew M. Shafae, AttorneyLaw Office of Roy W. LitherlandElections have consequences. On January 3, 2017, the 115th United States Congress met for the first time, with both houses controlled by the Republican Party. On January 20, 2017, our Republican president-elect will be sworn in as President of the United States. For the first time in a decade, two branches of our federal government will be controlled by one political party. And this president will also have the opportunity to … [Read more...]
