Learning From Philip Seymour Hoffman’s Estate Planning Mistakes
Philip Seymour Hoffman was a celebrated actor who starred in such famous movies as The Hunger Games and Charlie Wilson’s War. Hoffman’s talent on the big screen did not, however, equate to skill in estate planning. Hoffman passed away in 2014 and was survived...
When Should You Talk to Your Parents About Their Estate Plan?
Both aging parents and their adult children are often reluctant to talk about the parents’ finances. The parents may feel money is a taboo topic, particularly with one’s children. The adult children do not want to be considered greedy or intrusive. So many people procrastinate until it is too late.
But it can...
How Do I Qualify for Medicaid Without Losing All of my Assets?
Most people hope that when they retire, they will have no financial worries. The reality is, too many people are left without sufficient resources to provide for their healthcare needs. Medicaid was put into place to address this reality, providing coverage for certain medical needs to those without sufficient assets.
Medicaid does have...
Check Your Beneficiary Designations Today
What might happen if I fail to update my beneficiary designations on my life insurance policies, bank accounts, and more?
While most of us put off estate planning, failing to take some basic steps towards preparing for your eventual death could come at a significant cost for your...
What to Expect During the Probate Process
During probate, a court supervises the work of gathering a deceased person’s assets and distributing them, whether to pay off creditors or to give heirs the parts of the estate designated for them in the deceased person’s will (or designated by state law if the person died without a will).
Every probate court...
Should I Purchase a Long-Term Care Insurance Plan?
Not many people talk about long-term care, but they should. As the first batch of baby boomers hit the big 65, the conversation will likely gain more traction.
Insurance policies that cover extended nursing care make sense. After all, nursing care and home staff services are expensive. These costs can burn through your...
Estate Planning and the Spousal Fiduciary Duty
When you say “I do” in California, you not only dedicate yourself to your spouse in sickness and in health, but you also become bound by the Spousal Fiduciary Duty. In California, the law imposes a legal duty...
Forget bingo! More Americans are working part-time in retirement – Why Are More Seniors Opting to Work During Retirement?
More Americans are working past retirement than ever before. As baby boomers hit the big 65, more and more are opting to continue working. Why are so many seniors choosing to spend their golden years in offices rather than at home? According to California elder law attorneys, there are a number of reasons,...
Common Oversights in Estate Planning
Many people think their journey is complete once they’ve completed an estate plan. However, these people, no matter how much planning they’ve done, can still fall victim to common oversights in estate planning. When creating an estate plan, you want to be certain that you’ve incorporated all factors into it.
Even the with...
Don’t Have a Will? Here’s What Will Happen to Your Estate
Less than half of all Americans, 44 percent, have a will in place that describes how their estate should be handled after their death, according to the latest Gallup poll. Many people share the view...