Jul
10
2018
0

Steps to Help Maintain Your Health and Safety

The following are some steps for our senior and (almost senior) clients to consider for healthy living.

  • Prevent falls: My father’s advice to me just before he died was for me to advise all of my clients to not fall. Falls can be the beginning of the end for people. Walk more deliberately, use your cane, and hold on to handrails.
  • Safety at home: Avoid climbing ladders, and if you must, make sure that someone is with you. Remove slippery area rugs. Do not jump up and down inside of the trash barrel to create more space for trash.
  • Exercise: Keep your strength up. Walk every day if you can, and add more steps all the time. If your legs are strong and your balance is good, you are less likely to fall.
  • Have discussions with your family: Talk to your loved ones and your support group about your health care decisions and your Directive to Physicians. Talk about your financial decisions and your financial Power of Attorney. Make sure all of your estate planning documents are up to date, and that they have the latest asset protection and Medi-Cal qualification provisions.

This information is not to be taken as legal advice, is general in nature, and you are encouraged to see your Walnut Creek Elder Law Attorney.

Michael J. Young

Walnut Creek, CA

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Jun
25
2018
0

No Penalties For Transfers Between Spouses Under Medi-Cal Regulations

When a person is in a nursing home and applies for Medi-Cal, the Medi-Cal application will ask whether the applicant has transferred away any non-exempt assets during the 30 months prior to the application date. Remember that exempt assets such as IRA’s are reported to Medi-Cal, but are not countable assets for Medi-Cal qualification.  The ill spouse, or applicant spouse, cannot have more than $2,000 in his/her name, of non qualified assets. The well spouse can have up to $123,600 in non-qualified assets. So if the ill spouse transfers assets to the well spouse to get down himself\herself down to the $2,000 limit, Medi-Cal does not apply a penalty. However, if a gift was made to a third party within the 30 months prior to the application date, an eligibility penalty may apply. If the gift was made more than 30 months prior to the date of the application, no penalty will apply. If the gift was made within the 30 month period, divide the sum gifted by $8,841, the penalty divisor, and that is the number of months of ineligibility for the applicant, starting at the month the gift was made. So for instance, if $15,000 was gifted in June, 2018, we divide that number by $8,841. $15,000 / $8,841 = 1.69, which would be rounded down to one month of ineligibility.  As a result, the applicant would be ineligible for June, 2018, but would be eligible for July, 2018.

This information is not to be taken as legal advice, is general in nature, and you are encouraged to see your Walnut Creek Elder Law Attorney.

Michael J. Young

Walnut Creek, CA

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Mar
12
2018
0

What Are The Intestate Rights Of Inheritance In Probate Upon The Death Of A Married Person?

The rights of inheritance from a person who died intestate, and who was married at the time of death, will depend upon the nature of the particular asset being probated. Assets of the decedent who is a married person can be community property, quasi-community property or separate property.  Quasi-community property is property acquired in another state that would have been community property if it had been acquired in California. Basically, all community property and quasi-community property will pass to the surviving spouse. The separate property of the decedent will be distributed to the surviving spouse and to other relatives, depending upon who survives. So for instance, if there is a surviving spouse and surviving children, one-half will go to the surviving spouse and one-half will go to one child, if there is only one child. If there is more than one child, one-third will go to the surviving spouse, and two-thirds will go to the children in equal shares. Other rules will apply if there are no children or grandchildren.

This information is not to be taken as legal advice, is general in nature, and you are encouraged to see your Walnut Creek Probate Attorney.

Michael J. Young

Walnut Creek, CA Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Mar
08
2018
0

What Assets Can Be Administered By The Probate Court When The Decedent’s Will Is Filed?

Only certain assets left through a person’s will can be administered through a probate proceeding.

For a married person, all of his or her separate property, which is in that person’s name alone, can be distributed through a probate court proceeding. Separate property is identified as what was owned by the decedent before marriage. In addition, separate property refers to assets acquired during marriage by gift or inheritance. If the decedent is single, all assets in the decedent’s name alone can be distributed through a probate proceeding. For community property, one-half of each asset which is titled in the couple’s names as community property can be handled through the probate court process. In addition, the portion or percent owned by the decedent with others as tenants in common can be subject to the probate court process. Assets that are not registered in the decedent’s name, such as furniture, coins and jewelry can also be distributed through probate.

This information is not to be taken as legal advice, is general in nature, and you are encouraged to see your Walnut Creek Probate Attorney.

Michael J. Young

Walnut Creek, CA Probate Attorney

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

www.WalnutCreekElderLaw.com

Feb
05
2018
0

Medi-Cal Treatment of Reverse Mortgages

Reverse mortgage loans are designed for homeowners who are 62 years of age or older, and who have a substantial amount of equity in their homes. The amount of equity is usually the difference between the fair market appraised value of your property, and the amount due on existing mortgages. As the borrower under a reverse mortgage, you can receive monthly or other periodic payments. You can also have access to the funds, like a line of credit, that you can draw on when needed. You make no payments until the loan is paid off, when you pass away and the property is sold, or when you go into a long term care facility for an extended period of time. For Medi-Cal qualification purposes, the State does not treat the amount of the loan as an asset. However, when you receive money from the reverse mortgage lender, Medi-Cal will treat that receipt of money as an asset in the month you receive it. As a result, you will need to spend that money down before the end of the month to meet the Medi-Cal qualification limits. A caveat on a reverse mortgage is that if you as the borrower go into a nursing home for an extended period of time, the loan may be called due, and the secured home will have to be sold. The proceeds of sale, which become a cash asset, could make you ineligible for Medi-Cal.

This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help Baby Boomers and families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Michael J. Young

Elder Law and Asset Protection Attorney

Medi-Cal Attorney Walnut Creek

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

Nov
13
2017
0

Have You Checked In On Your Older Loved One Lately? “Driving”

Have you checked in on your older in-laws and parents lately? The holiday season affords a good opportunity for you to see them and observe how they are doing. Here are a few things you should consider when you see them.

Driving

If your older loved one is still driving, find an excuse to ride with them, and observe their behind the wheel skills. Check to see if there are any obvious dents or dings on their car. Do they miss signs and signals? Do they drive very slowly? Do they get lost easily? A client of mine told me that he recently rode with his 87 year old grandmother. I asked him how the experience was, and he told me that it was not good. My client said that in his opinion, his grandmother only had about 10% of the ability that is required to drive an automobile, and that she definitely should not be driving. He said that his grandmother would signal before changing lanes, but that she had no idea if there was anyone in the adjoining lane, and that she almost caused a crash on their ride. He said that she would not drive on the freeways or at night, which is good. He also said that she would only made right hand turns if at all possible.

These are all signs that it may be time to reduce the need for the older person to drive, if possible. You could suggest to them that in addition to not driving at night, that they should drive only during non-commute hours. You could also look into alternative transportation services for them, such as local buses, taxis and Uber or Lyft. Rossmoor has a bus, and there are dial-a-bus services available. If you have the time, you could offer to take your older loved ones to their errands and appointments.

Michael J. Young

Elder Law and Asset Protection Attorney

Medi-Cal Attorney Walnut Creek

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

Nov
02
2017
0

Preventing Financial Elder Abuse – Wait Three Days Before Signing Anything

How to Prevent Financial Elder Abuse – Wait Three Days Before Signing Anything:

When I was a child and I earned some money, a hole would immediately start burning in my pocket. I would be excited and tell my mother what I wanted to buy with the money. She would tell me to think about it, and to wait three days before buying anything. This was my mother’s “three day rule.”

Waiting the three days gave me a chance to think about whether the expenditure of my hard earned money was a good idea or not. Often times, I would forget about the purchase and move on to something else during those three days. The three days also gave me a chance to talk to my parents and friends and ask for their advice before I made the purchase. Also during that time, my father would strongly encourage me to save my hard earned money. I am sure that the “three day rule” saved me a lot of money, grief and disappointment.

In order to avoid financial elder abuse, we should take my mother’s “three day rule” advice. Wait three days before you sign anything that requires spending your money. During that time, ask other professionals, family members and friends what they think about the deal or contract. Do not do business with people or organizations you do not know. Ask for referrals from  professionals and your friends and family members regarding the purchase of products and services. That fact that you are being rushed may be an indication that you are being pressured into a bad deal.

Typical financial elder abuse situations that we see include but are not limited to: Time share sales; Inappropriate financial sales and advice; and Real Property Investments. Also, a reverse mortgage may not be right for you, so seek professional advice before entering signing the contract. A movie star on TV may not be the best person to take advice from regarding a reverse mortgage.

Michael J. Young

Elder Law and Asset Protection Attorney

Medi-Cal Attorney Walnut Creek

1931 San Miguel Dr. Ste., 220

Walnut Creek, CA 94596

925-256-0298

Jun
19
2017
0

Durable Powers Of Attorney For Young Adults

We usually don’t think estate planning documents are necessary for younger adults. But consider the potential need for financial and health care powers of attorney for them. We received a recent call from a client whose 23 year old daughter, Jenny, was in a severe automobile accident. Jenny suffered traumatic brain injury in the accident. After two weeks in the hospital, she was transferred to a skilled nursing facility for rehabilitation. Jenny has not been cognizant enough to make medical or health care decisions for herself.

Our client called us because Jenny does not have financial or medical powers of attorney, or a HIPAA statement for access to her medical records. Our client and her husband are running into problems making medical and financial decisions on behalf of Jenny. They are also having difficulty gaining access to Jenny’s medical records. If Jenny’s incapacity continues, a conservatorship proceeding in probate court may be the only resolution to this problem. In a conservatorhip proceeding, the probate court judge appoints another person, the “conservator” to care for and make decisions on behalf of another adult, the “conservatee. A probate court conservatorship proceeding is time consuming, intrusive to the family and expensive. This dilemma could have been avoided if Jenny already had these basic estate planning documents. After all, we never know what may happen to any of us at any time.

Please feel free to contact our office should you need help with estate planning, asset protection, and qualifying for and applying for Medi-Cal. This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com, we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help the older client and their families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Jun
01
2017
0

Medi-Cal Qualification and Joint Accounts

If you are applying for Medi-Cal, you will be required to disclose all of your assets in your application package. Medi-Cal wants to see evidence of all of your accounts, even joint accounts that you may have with someone else. Joint accounts will be considered by Medi-Cal, at least initially, to belong to you alone. So for instance, if you have a joint savings account with your daughter, Medi-Cal will view that account as belonging to you alone. As a result, the value of the account may disqualify you for Medi-Cal.

You may be able to remedy the situation if you can prove to Medi-Cal that all or a portion of the fund does not belong to you. You can also spend the money in the account on yourself, make repairs to your home, pay down your mortgage, etc. You may also be able to gift the money, or a portion of it from the account. As we have explained in previous blogs however, gifting can create periods of ineligibility for Medi-Cal if it is not done correctly.

Planning for asset protection and Medi-Cal with your estate planning and asset protection attorney at an early stage, can be very beneficial. Your revocable living trust and financial durable powers of attorney can also be amended to have the required gifting and asset protection provisions for Medi-Cal qualification, should you become incapable at some point of handling these matters on your own.

Please feel free to contact our office should you need help with estate planning, applying for Medi-Cal and asset protection. This information is not to be taken as legal advice, and you are encouraged to see your elder law attorney. At the Law Offices of Michael J. Young, at 1931 San Miguel Dr., Ste. 220, Walnut Creek, CA www.WalnutCreekElderLaw, 925-256-0298, lawyoung1@gmail.com, we practice Elder Law and we help Baby Boomers, Seniors and families through their Elder Care Journey. We help families with long-term care planning, asset-protection plans, comprehensive estate planning, wills, trusts and powers of attorney. We also help the older client and their families get their “Ducks in a Row” in order help them qualify for Medi-Cal and the VA Aid & Attendance Improved Pension benefit.

Powered by WordPress | Theme: Aeros 2.0 by TheBuckmaker.com