Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education, American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Often, one of the most difficult choices for a person to make is the selection of people to make decisions for them. These fiduciaries may have great control over your affairs, typically at times when you would be most vulnerable or already gone. Let’s take a look at the various fiduciaries a … [Read more...] about Basics of Estate Planning: Selecting Fiduciaries
Basics of Estate Planning: Estate Planning for Major Life Events
Blog Author: Stephen C. Hartnett, J.D., LL.M. (Tax), Director of Education American Academy of Estate Planning Attorneys, Inc. This is another in a series of blogs on the basics of estate planning. Estate planning attorneys do many things. We help people structure their affairs for the various stages of their lives. When the client is starting out, we may help them establish a basic plan. This might include: A Financial General Durable Power of Attorney. This would allow someone to … [Read more...] about Basics of Estate Planning: Estate Planning for Major Life Events
Am I going to owe taxes if I inherit property?
By: Matthew M. Shafae, Attorney Litherland Law Firm Am I going to owe taxes if I inherit property? We get this question all the time. And we don’t blame you. It can get confusing. So, let’s see if we can clear up this issue. Let’s segregate the different taxes that might be owed, and then we can see if anything will be owed. Estate Tax The estate tax—or death tax, as it’s sometimes called—is a transfer tax on assets transferred from someone who died to someone who is living. The tax … [Read more...] about Am I going to owe taxes if I inherit property?
How an Elder Care Law Firm Can Help
Elder Care Law Firms specialize in the issues that affect seniors. They are equipped to address the legal, healthcare, social and psychological needs of seniors and to develop a plan to meet those needs in an economical fashion that protects and preserves the income and assets of the elder to the greatest extent possible. How Can an Elder Care Law Firm Help You? If you are facing legal issues that include planning for Medi-Cal qualification, incapacity planning or end-of-life planning, an … [Read more...] about How an Elder Care Law Firm Can Help
Take a Step Toward Preventing Falls (An Elder Law Today Blog)
by Dedra Jize, OT, CSA Geriatric Care Manager, Litherland, Kennedy & Associates, APC, Attorneys at Law A 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 … [Read more...] about Take a Step Toward Preventing Falls (An Elder Law Today Blog)
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...] about Does an Inheritance Count for Medi-Cal? (An Elder Law Today Blog)
Hospital Discharge: Making the Transition to Home or a Skilled Nursing Facility
by: Guest Blogger Renee Seligman, Patient Advocate When 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...] about Hospital Discharge: Making the Transition to Home or a Skilled Nursing Facility
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...] about Latest Genworth Survey Released Regarding Long-Term Care Costs (An Elder Law Today Blog)
Limits to Medi-Cal Recovery (An Elder Law Today Blog)
By: Matthew M. Shafae, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law The 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 Medi-Cal 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 Medi-Cal funding may be an additional topic for … [Read more...] about Limits to Medi-Cal Recovery (An Elder Law Today Blog)
Special Needs Trusts: Two Words to Say Fairness
By: Matthew M. Shafae, Attorney Litherland, Kennedy & Associates, APC, Attorneys at Law Special 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, … [Read more...] about Special Needs Trusts: Two Words to Say Fairness
