Tag Archives: california estate planning

An Interesting Insurance Based Strategy To Help Private Pay For Long Term Care

Our clients are concerned about how they will private pay for their long term care. Most long term care takes place first in our homes and then in assisted living facilities. We have Medi-Cal in California, but it only pays for a stay in a skilled nursing facility, if we qualify. As a result, our clients are […]

One Unique Way You Can Use Your Own Funds To Help Pay For Your Long Term Care Is To Convert Your Life Insurance Policy Into a Life Care Funding Trust

As we have discussed in the past, there are 3 ways to pay for long term care. 1) You can use your own money; 2) You can use your long term care insurance if you have it; 3) You can utilize the VA Aid & Attendance program to help pay for in home care and […]

Hiring Home Health Aides:

As part of the Elder Care Journey as we call it, many of our clients will eventually need in-home-care. Our clients want to stay at home but will need help with various activities of daily living, such as eating, bathing, dressing, ambulating and toileting. In fact, our estate planning documents usually confirm an intent to […]

Consider Naming a Professional Fiduciary In Your Estate Planning Documents

When we prepare our estate planning documents, such as the Revocable Living Trust and Financial Durable Powers of Attorney, we typically name our spouses and then our children as our fiduciaries if we cannot act for ourselves. It would seem that the most common reason that would cause a fiduciary to act is the loss of mental capacity of […]

Financial Durable Powers of Attorney for Baby Boomers and Seniors Can Now Provide for Long Term Care Planning and Asset Protection

Financial Durable Powers of Attorney (Fin. DPA’s) for Baby Boomers and Seniors can provide for asset protection and government benefits planning. The language we use in Fin. DPA’s for long term care planning for baby boomers and seniors is very different from the language we see in the plain vanilla Fin. DPA’s which most people […]

7 Practical Considerations To Take Into Account When Choosing an Assisted Living Facility

Here are 7 Practical Considerations to take into account when you are choosing an assisted living facility, either for yourself or a loved one. We have developed this list  after having first hand experience with assisted living facilities that my father lived in, and after having interacted with our clients regarding these issues over many […]

Peace of Mind Now For Baby Boomers and Seniors Facing Retirement

A big issue now facing Baby Boomers and seniors is, surviving in retirement. We should have our “Ducks In A Row” now regarding health and financial issues, and there are many things we can do.  Most of our clients do not have long term care insurance to pay for a stay in a nursing home. […]

VA Aid & Attendance 2013 Pension Benefit Amounts

The 2013 Maximum Aid & Attendance Pension Benefit Rates are set forth below. This is a wonderful benefit for older wartime veterans, which can help pay for the cost of in-home care, assisted living facilities and board and care. The benefit is “non service connected”, which means that qualification is not dependent upon a wartime injury. The veteran […]

2013 CA Medi-Cal Quick Reference Guide

The State of California has changed some of the Medi-Cal qualification figures and requirements for 2013. A brief listing of these changes and requirements is set forth below: 2013 CA Medi-Cal Quick Reference Guide Community Spouse Resource Allowance $115,920 This is the amount that the community, or (at home) well spouse can retain in liquid assets. This […]

Protect Your Home From a Medi-Cal Lien With a Reserved Life Estate

Medi-Cal can pay for your stay in a skilled nursing facility if you qualify. Under the state’s regulations, your home can be confirmed as an exempt asset in the Medi-Cal application. This means that you can keep your home, if you are otherwise qualified, and still receive Medi-Cal. This is true whether you are single […]