Family Care Contracts: Many can agree that the best people to take care of our loved ones are the ones closest to them. More often than not those people are immediate family members, like a child who takes care of a parent, or a family friend. However, when a loved one cares for their family…
Effective January 1, 2017 Medi-Cal Recovery (SB 833) For Medi-Cal recipients who die on or after January 1, 2017, there are significant changes in the law. The most significant impacts the limitations on recovery of funds by the state of California after the death of the Medi-Cal recipient. For Estate Planning purposes, the best news…
In a new law to go into effect January 1, 2017, a Living Trust may be utilized to protect assets from Medi-Cal claims for individuals dying after that date. This is a revolutionary law that elevates the advantages of a Living Trust in California to a new high. Previously, a Living Trust provided no protection…
A recent case in Tennessee reveals the problems that can arise with Financial Durable Powers of Attorney (DPA). In that case, mom designated her daughter to be her financial agent in the DPA. The daughter and her husband moved in with the mother to care for her and take responsibilities for her monthly expenses. The…
Elder Law Attorneys are frequently faced with a myriad of issues surrounding annuities and many times find it difficult to provide adequate answers for their clients. Questions: 1) What should be done with older annuity contracts in which companies are offering financial incentives to policy holders to relinquish the guaranteed income and death benefits? 2)…