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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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…
Medical Alert: MRI And MRA Advisory
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…
UDPA Changes In The Law
1) Uniform Durable Powers of Attorney (UDPA) Changes in California Law The following are recent legislative changes under the Uniform Statutory Durable Powers of Attorney (UDPA) for California. The following powers need to now be specifically included in the UDPA: 1) The powers of an agent to create, modify, or revoke a Trust; 2) The…
The Organ Donation Process
Having trouble deciding whether you should register as an organ donor or not? Lets lay down the facts to help you better understand how the entire process of organ donation works, so that you may make an informed decision. Roughly 145 Million people are registered organ donors. Now, despite the fact that many people register…
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…
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…