The irrevocable Medicaid Asset Protection Trust has proven to be a highly effective estate planning tool for many older Americans. There are many factors to consider when deciding whether a Medicaid Asset Protection Trust is right for you and your family. This brief overview is designed to give you a starting point for discussions with … Read More
Common questions are estate planning lawyers hear are in regard to inherited IRAs. IRAs are usually among the largest assets inherited. These retirement accounts have been able to grow to such very large amounts because income taxes on the growth in the account are deferred until the owner begins to take distributions. (You may take … Read More
Skilled nursing facilities (SNF) Skilled nursing facilities (SNF), commonly called nursing homes or rehab centers, provide temporary and long-term care for those who need medical care while recuperating, or for those who need assistance with daily living on a permanent basis. Financial planning for SNF is an important aspect of estate planning, one that should … Read More
A family caregiving meeting is an essential tool when dealing with the care of an aging loved one. These meetings are beneficial for helping to keep all family members abreast of decisions that need to be made along with changes in diagnosis or prognosis. They also help to ensure that all family members feel that … Read More
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The House Ways and Means Committee agreed to the tax provisions of the $3.5 trillion Build Back Better Act (BBBA) on September 15, 2021. If you’ve been following the political news, you may be wondering how this legislative act might affect you—and especially your estate plan. At California Probate and Trust, PC in Fair Oaks, … Read More
Senator Chris Van Hollen of Maryland has proposed new legislation that could significantly impact wealth preservation and estate planning strategies used by wealthy families. It is called the Sensible Taxation and Equity Promotion Act. One of the most significant issues under this law change is that when a wealthy person passes away, the estate of … Read More
A power of attorney (POA) refers to a document in which you name an agent or an attorney-in-fact to make decisions on your behalf if you become incapacitated and unable to make these decisions for yourself. A power of attorney is one of the cornerstone documents inside a California estate plan that can give you … Read More