We Must update all Transmutation Agreements for updated assets and portfolios. If you have signed a Transmutation Agreement, send us a schedule of your current assets. If you have not updated your Trust for DEFRA and have catastrophic illness concerns, we must do so. Give a copy of this Newsletter to friends and neighbors to help spread the word about this New Catastrophic Health Law in California called the Deficit Reduction Act.
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If you are advised to have an MRI or MRA by your doctor, you must determine if gadolinium will be utilized. Gadolinium is injected into the bloodstream to enhance the images. If you have kidney problems, gadolinium can cause nephrogenic systemic fibrosis (NSF). NSF is a debilitating, potentially fatal disease for which there is no…
The Necessity Of A Living Trust Review
Life changes. Times change. People change. Law changes. Because of these realistic facts, our documents must be updated. The child initially appointed as the Successor Trustee and Executor of the estate may now be unavailable for health reasons, family problems, financial issues, etc. It may be necessary to change the order of Successor Trustees. The…
Utilizing Trusts As IRA Beneficiaries – Avoiding The Tax Traps
The IRS has become more stringent on Trusts as beneficiaries of IRAs in allowing payouts over a beneficiary’s life expectancy. If there are multiple beneficiaries in the Trust, the Trust must be qualified as a “designated beneficiary” in order to allow distribution over the life expectancy of the oldest Trust beneficiary. Designating Living or Family…
Financial Tricks And Traps In VA And Medical Planning With Trusts And Annuities
Part 1 The VA pension benefits for vets and spouses are a valuable source of funding for assisted living and home care, especially the aid and attendance benefit. Unlike Medi-Cal, these pensions are designed to benefit in these settings rather than in a nursing home. Planning for these benefits requires close scrutiny of what is…
Take Control Of Your Home With A Living Trust
Many people believe that Living Trusts are only for the wealthy and “Trust fund” children/grandchildren. Living Trusts can be designed for anyone who owns assets, especially real estate. Because the home is normally a person’s most valuable asset, it should be owned in a Trust to avoid the awesome probate rules in California. If you…
Client Alert!! Filial Support Laws Beginning To Groundswell
Pull up a chair, you’re gonna need it. North Dakota has now actively joined the ranks of states who are resurrecting filial support laws to enable state authorities to collect judgements against children for the parents’ nursing home debts. A filial support law was recently upheld in Pennsylvania in the case of Health Care and…