by Guest Blogger, Diane Bucher, Realtor What you Need To Know About Proposition 60/90: The Senior Citizens Replacement Dwelling Benefit Who 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
Avoiding Probate (An Elder Law Today Blog)
When an individual dies owning property solely in his or her name without a beneficiary designation, a formal procedure ("probate") is usually needed to determine to whom the property should pass. If there is a valid Will, the probate court will oversee that property passes according to the terms of the Will. If there is no Will, the property will pass to the individual's heirs at law through the probate system. However, it is possible to legally pass property to another person without going … [Read more...] about Avoiding Probate (An Elder Law Today Blog)
Have You Received a “Recorded Deed Notice” Mailer?
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 are not a Comprehensive Solution
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
The Dangers of Social Isolation (An Elder Law Today Blog)
by: Lois G. Tager, M. Ed., CSA Director of Geriatric Care Management, Litherland, Kennedy & Associates, APC, Attorneys at Law “Nobody relishes the prospect of aging without a spouse or family member at their side, without friends to help them laugh at the ridiculous parts and support them through the difficult times.” (Senior Living Blog) Unfortunately, that is what many seniors face. Due to the lack of socialization, seniors are less able to contribute to their communities. Seniors who … [Read more...] about The Dangers of Social Isolation (An Elder Law Today Blog)
VETERANS AID AND ATTENDANCE SPECIAL PENSION
Many people are not aware that the Department of Veterans Affairs offers assistance to veterans, their spouses and widows to help with assisted living and nursing home costs. This benefit is known as the Veterans Aid and Attendance Special Pension. VETERANS AID & ATTENDANCE People who have served in the military make a lot of sacrifices, but there are certain benefits that go along with service. Most of these are well understood, but the Veterans Aid and Attendance Special Pension is … [Read more...] about VETERANS AID AND ATTENDANCE SPECIAL PENSION
Why is Estate Planning Important in 2016?
Studies show that a majority of American adults do not have a complete and cogent estate plan in place. Failing to plan ahead for death and the likelihood of incapacity in our later years can be costly, both emotionally and financially. Many people do not have an estate plan because they don't understand the importance of estate planning. We will highlight some of the key reasons why estate planning is essential in this blog. Avoiding Intestacy If you pass away without any estate … [Read more...] about Why is Estate Planning Important in 2016?
Free Living Trust Seminars in January
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 general public. During the month of January, we will be offering seminars that focus on the subject of living trusts. Why Consider … [Read more...] about Free Living Trust Seminars in January
Adult Day Care—An Alternative to Nursing Home Placement (An Elder Law Today Blog)
Isolation is often a great danger to elders living independently and, as an alternative to moving into a nursing facility or assisted living facility, many elders have been able to remain living at home with the assistance of adult day care programs. Adult day care programs are community-based and provide a safe, supervised alternative to seniors who are unable to live on their own, but do not yet require 24-hour skilled nursing. Not only are adult day care programs therapeutic for the … [Read more...] about Adult Day Care—An Alternative to Nursing Home Placement (An Elder Law Today Blog)
Do You Need to Speak with an Elder Care Law Firm?
The question of when you might need to speak to an elder care law firm can be a difficult one to answer. What is an elder care law firm? How can they help you? What if it is a loved one who needs help? This blog article will address these questions to assist you in determining when you or a loved one might need to speak with an elder care law firm. When you need an elder care law firm for yourself Elder law attorneys specialize in the legal issues that affect seniors. These issues can include … [Read more...] about Do You Need to Speak with an Elder Care Law Firm?
