Continuing care retirement communities (CCRCs) often require new residents to pay an entry fee in exchange for lifetime housing and priority access to healthcare, in addition to a monthly fee. These entry fees can be in the hundreds of thousands of dollars. In many cases, a sizable portion of the entry fee may be refundable to the resident if they move…
Eighteen-year-old Sarah tried to calm her excitement. She had been named the beneficiary of her Grandpa Jack’s IRA (Individual Retirement Account). While all of the grandchildren had been named in Grandpa Jack’s will, she was the only one to get a separate gift. Visions of a new car and new clothes began to dance through her head. “Your grandfather named…
The Tax Cuts and Jobs Act, passed at the end of 2017, significantly alters many of the deductions to which we have become accustomed. CPA’s and financial planners continue to unravel the new laws but one of the new changes is clear. The new tax law will reduce the tax benefit of charitable giving for many individuals. However, the changes…
Lisa studied her late son’s will and frowned. “To my mother and father, George and Lisa Cummings, I bequeath the contents of my wallet, to be found at Coinbase.” “George, you ever heard of a place called Coinbase?” George shook his head. “No. What about it?” “Well, according to Danny’s will, he left his wallet there and we inherit the…
Susan stared at her father’s Last Will and Testament and groaned. “I know I am supposed to be the executor of Dad’s will, but some of this makes no sense.” “How so?” asked her husband, Tom. “Well, he makes these very specific bequests of airline miles and hotel points, even credit card reward points. But I’m pretty sure all of…
All attorneys will agree with me that if there’s one thing we wish our clients would do it would be to talk to us before they act. It’s much better for the client, and less expensive in the long run, to have your attorney review that lease or contract before you sign it than to be surprised later. We find…
Debbie was furious. “Darn Medi-Cal. First, they put Mom through the ringer to qualify for benefits, and then after she dies, they try to recover the money they gave her. How is that even fair? Mom had so little as it is. My God, all she left me and Cyndy was $500 and her house. They probably want that, too.”…
Mary was ill-prepared for the drama that was probate. “I mean, seriously,” she told her friend, Amy. “Who would have thought Uncle Harry would leave his estate in such a mess? I found deeds, contracts, promissory notes, life insurance policies, and wills, multiple wills, in his house, stuffed in the trunk of his car, in his shed, even in his…