By: Matthew M. Shafae, AttorneyLitherland, Kennedy & Associates, APC, Attorneys at LawElections 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 … [Read more...] about Litherland Law Office 2017 Government Policy Forecast
By: Justin M. Kennedy, AttorneyLitherland, Kennedy & Associates, APC, Attorneys at LawWhile at an estate planning conference in November, one of the speakers discussed a planning strategy that may benefit many married couples. The planning strategy involves adding Advanced Medi-Cal Triggers to a married couple’s estate plan, specifically a Spousal Election to the Living Trust and testamentary special needs trust language within the Pour-Over-Will. For a married couple, upon the first death, … [Read more...] about Advanced Medi-Cal Triggers – Spousal Election
By: Justin M. Kennedy, AttorneyLitherland, Kennedy & Associates, APC, Attorneys at LawIn 2016, the State of California introduced a new Transfer on Death Deed (TOD Deed). When the TOD Deed was first announced, we advised our clients against using it. One of the many reasons against using the TOD Deed is that the property could be subject to a Medi-Cal Estate Recovery claim upon the owner’s death. As of January 01, 2017, so long as the TOD Deed has at least one living beneficiary upon the … [Read more...] about Transfer on Death Deeds
In this blog article, we will address the issue of living trusts as they apply to married couples and what happens to the trust upon the passing of the first spouse.First, we will review the value of living trusts in general.Many people assume that a last will is the best choice when they are planning their estates. They believe that trusts are only useful for those who are very wealthy. However, this is not entirely true. While there are trusts that are utilized to meet the objectives … [Read more...] about What Happens to a Living Trust when a Spouse Passes Away?
By: Justin M. Kennedy, Associate AttorneyLitherland, Kennedy & Associates, APC, Attorneys at LawWhile at a national conference, I heard a seminar on how to protect your family in a digital world. What follows are some of the tips and strategies provided by the speaker, Jeff Lanza, a Retired FBI Agent, on how to better protect yourself and your family:1. Do no click on links in emails from unknown senders.2. Even if you know the sender, you should be cautious before clicking links, as … [Read more...] about Protecting Your Family in a Digital World
Q: Once I qualify for Medi-Cal, will the quality of long term care I receive be sub-standard?A: No. It is illegal for a long term care facility to discriminate against someone receiving Medi-Cal benefits. By law, Medi-Cal patients are to receive the same level of care as private pay residents.Q: Is a married couple always required to spend down one-half of their assets before qualifying for Medi-Cal?A: Not always. In fact, often times couples have over $100,000 and qualify … [Read more...] about Commonly Asked Medi-Cal Questions (An Elder Law Today Blog)
By: Justin M. Kennedy, Associate AttorneyLitherland, Kennedy & Associates, APC, Attorneys at LawWhile at a national conference, I attended a seminar on how to prevent identity theft. What follows are some of the tips and strategies provided by the speaker, Jeff Lanza, a Retired FBI Agent, on how to better protect yourself:Social Security NumberDo not carry your social security card with you.Mr. Lanza recommended only providing your social security number for the following … [Read more...] about Preventing Identity Theft
by Guest Blogger, Diane Bucher, RealtorWhat you Need To Know About Proposition 60/90: The Senior Citizens Replacement Dwelling BenefitWho Qualifies?IF you or your spouse that resides with you is age 55 or older, you may buy or construct a new home of equal or lesser value than your existing home and transfer the base value to your new property.This is a one-time only benefit. You must buy or complete construction of your replacement home within two years of the sale of the original … [Read more...] about Transferring Your Property Taxes Using Prop 60/90
One of our clients recently brought in the below "Recorded Deed Notice" solicitation and inquired about whether or not she was required to pay the fee to the solicitor to obtain a copy of her current deed.We informed our client that she could obtain a copy of her deed on her own from the County Recorder's office. The fee the County Recorder's office will charge is considerably less.Additionally, whenever our office prepares Trust Transfer Deeds for our clients, we record the deed(s) on … [Read more...] about Have You Received a “Recorded Deed Notice” Mailer?
Payable on death accounts may sound like a simple way to pass assets to your heirs. However, there are numerous reasons why payable on death ("POD") accounts do not provide a comprehensive estate planning solution.When you open up a bank account or brokerage account, you may be offered a payable on death option. With these accounts you add a beneficiary, and this individual would assume ownership of any funds left in the account at the time of your death.If you are presented with this … [Read more...] about Payable on Death Accounts are not a Comprehensive Solution