Many of us will need long term skilled nursing home stay at some point in our lives.  The cost of this care can range from $6,500 to $12,000 per month depending on the facility.  If you need skilled nursing home care in California and you qualify for Medi-Cal, the state can still come after your…

If you are lucky enough to have accumulated real property, and investment and savings account, then you already know the value of having a trust along with other critical estate planning documents.  A properly drafted trust will avoid the time and expense of probate, and prevent California from recovering any Medi-Cal benefits you may have collected…

There are actually three types of gifts you can make that may effect your taxes. The Annual Gift while you are living Each taxpayer has an “annual gift exclusion” that allows them to give $14,000 per year to any number of individuals, without paying any gift tax. That means parents can collectively give each of their children…

Make sure you update your beneficiary designations on all IRAs, 401K’s, insurance policies and any other assets that have a transfer on death designation. It’s always free and takes just a few minutes. I just completed a probate of a very large insurance policy where the father named the wife as primary but never designated…

Is your power of attorney for financial affairs over 10 years old? If it is, you may want to have it checked by an Elder Law attorney in your state. If one or both spouses are heading towards long term skilled nursing, having the proper power of attorney may enable them to move assets around…

A trustee is a legal term used in estate planning.  The trustee is the person or persons who manage the decisions and fulfill the purpose of a trust.  It is usually the surviving spouse when the first spouse passes away and then another party when the last surviving spouse is gone.  The goal is that…