Today’s Senior Scammers continue to try to dupe our older citizens by trial and error and when it works, they hit hard! They are very good at mostly phone calls that generally have an urgent nature with the target of getting money from an unsuspecting senior. As an adult child or loved one, you may be able to easily spot a scam, but elderly people are targeted and they may not tell you about the scammer. Talking to your senior loved ones and
A Medi-Cal Asset Protection Trust is an Irrevocable Trust specifically created to hold assets (i.e. the home and savings accounts) to qualify for Medi-CAL Long Term Care Benefits and to prevent the State of California from “Medi-Cal Estate Recovery”. If set up properly and far enough in advance, a person’s entire estate can be protected and this person will have Medi-CAL help pay nursing home costs! “Estate Recovery” is the right of
What You Do Not Know Can Hurt You!!! This is PART FOUR in our blog helping middle classed family members understand how to qualify for Medicaid (Medi-Cal in California) to pay part or all of the cost for skilled nursing home care. Always remember, you do not operate on yourself and we highly recommend that you get assistance from a qualified elder law attorney for your family’s Medi-CAL planning, allows you to legally qualify for the
It is always difficult to see a parent start to fail and need care at the end of their productive lives. It is important to begin planning for long term care and placement in an assisted living or skilled nursing facility before it is immediately needed. The family needs to talk with an experienced elder law attorney to legally decide on what the parent(s) wishes to do versus what is in the best interest of the senior loved one. Children are
Death or mental incapacity can strike at any time.Signing a Power of Attorney NOW, while healthy and competent will prevent the need for a conservatorship and possible loss of assets! With respect to creating these ‘NO MATTER WHAT DOCUMENTS’… there is no time like the present! There are two kinds of Powers of Attorney, one is for health care and medical decisions and the other is for financial decisions. Both of these are important
WHAT YOU DO NOT KNOW CAN HURT YOU! More Information on Protecting Your Home From Recovery & Having Medi-CAL Benefits to pay for Nursing Home Care! You can qualify for Medi-CAL with Your Home in Your Name, because it is an "Exempt Asset" but watch out for Medi-CAL Recovery after death! The state of California will try to seek Medi-CAL Recovery from any real or personal property or any other assets in which the individual had any legal
WHAT YOU DO NOT KNOW CAN HURT YOU! Gifting Your Home Directly to Your Children Can Have Negative Consequences…. If Not Handled CORRECTLY! Be Careful!!! Many families think they can avoid probate and avoid Medi-CAL recovery by directly gifting their home to their children or other loved ones. This can be done, BUT!!... gifting away your residence can have major tax consequences and capital gains issues among other possible problems if it is
WHAT YOU DON’T KNOW CAN HURT YOU!... OR COST YOU YOUR ESTATE! We are passionate about saving a family’s hard earned assets and not impoverishing a well spouse when someone’s health starts to fail! We hope you continue to check our blog to learn more about the many kinds of asset protection you may wish to be aware of! Extremely wealthy families do not worry about Nursing Home Care costs, but most middle classed family facing the