Happy birthday!... Now get your act together!!! In 2016 the first baby boomers will reach age 70. I can not believe it! If you are looking at the big 70 this year, you have critical decisions have to be made that will affect your retirement. These are critical decisions that you won’t want to forget. 1) Social Security. Sign up if you have not done it yet! Now is the time to receive the maximum benefit from Social Security. There is no
Many years ago, when someone passed away, there were family and friends to notify and a couple of bank accounts to close and maybe a house to transfer to family, well it today it is a different story! Hopefully you have left a list of passwords so your trustee or executor can help with many online issues. In 2016 there are many things that need to dealt with when you leave this earth. Every year in this technology era you may add new online
Today in 2015, it is a very different time than ever before when it comes to seniors and proper planning. In particular Americans are thinking about their retirement and how they will survive their golden years. Being in Los Angeles with the high cost of living this is even more of a concern! There are many strategies to be considered for seniors for retirement and for long term care planning. I thought this article was an informative one
Wealthy individuals and families have many options and concerns about protecting their assets and planning for retirement. In Los Angeles the cost of living and taxes are another big consideration in our plans. Older people with assets really need to talk to an asset protection attorney that understand asset preservation for long term care. Today's society seems exhausted by all of the choices and decisions they must make...read more
It is important for everyone to make plans for your death...just in case!!! We see many celebrity families in major public court battles over assets, weather they have major financial value or sometimes even more important great sentimental value. It is extremely important to set up exact directions for distribution of personal effects and other assets, if there is more than one marriage involved in the family... or there is a significant
In California, we are very lucky that Medi-CAL Asset Protection Irrevocable Trusts can be established by seniors (or persons facing the need for long term care) who wish to protect their assets (including the family home) from recovery from the State. Generally, anyone that is considering this type of pre-planning needs to have a sense of emotional security, because he or she must be ready to relinquish direct control over his or her assets. The
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
Some People Question if Medi-Cal planning is ethical and legal… We say absolutely!! We help Save Family Homes every day!! We define a Medi-Cal CRISIS as a medical situation where an ill or injured person is in the hospital and is being sent to a skilled nursing home for long term care and/ or has already been admitted to a nursing home… at this time of crisis, the family has been notified that the patient and/or spouse may have too many
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
Protecting estate assets involves engaging in estate planning strategies prior to death. In the U.S. all estates must undergo probate unless assets are transferred into a trust. Probate can extend for several months and prevent heirs from receiving intended inheritance gifts if the estate does not have sufficient funds to cover outstanding debts. When estate assets are transferred to a trust they are exempt from probate. Distribution of