On June 27, Governor Jerry Brown signed into law a bill that limits the state's seizure of assets from the estates of low-income residents ages 55 to 64. This is a good thing.
Prince and Estate Planning -- What We Can Learn
You already know how you want your assets distributed and you have even discussed it with your heirs, but discussing it doesn't make it legal. If you don't create an estate plan, your heirs are free to do what they will, but also they fall victim to taxes, government fees, etc.
If you're considering a living trust or revocable living trust, review these common questions and answers to help you better understand how they work and whether or not it's right for you:
When a person passes away, you assume they're safe from any wrongdoing, but you would be wrong. The number of identity theft cases against deceased individuals has grown substantially in the past few years. More family members are finding out their loved one's identity was stolen shortly after their death. While the estate won't be liable for the charges, it is a hassle that can still cost the family in the end.
Long-term care is becoming increasingly common for individuals. With the rising numbers of Alzheimer's cases in the United States, it is imperative that family members protect themselves from the burdening costs associated with long-term care. All too often families are blindsided by the costs and often Medicare doesn't cover the long-term needs of an individual.
When you create an estate plan, the first question that will be on your mind is whom you should discuss your wishes with. Unfortunately, the answer isn't as simple as you might think.
A Durable Power of Attorney (DPOA) is a legal document in which you assign a family member or close friend to manage specified items. You can arrange to make someone your DPOA in the event that an unexpected circumstance arises in which you are not able to appoint someone - such as a concussion, coma, or Alzheimer's.
When you apply for Veteran's Aid, like any other assistance program, especially those run by a government entity, they are not just going to take you at your word. It is a red-tape process, and they will require documentation to verify a number of important pieces of information used to determine your eligibility. To speed up the process, avoiding any unnecessary delays, you should gather the following documents and be ready to present them to the VA before you apply for benefits.
The 2011 American Time Use Survey (ATUS) collected information for the first time about provision of eldercare. It looked at the average time spent per day in various activities.