Newman Law Group

Tustin Estate Planning Law Blog

Medi-Cal eligibility: proven attorney can help with twists, turns

Legions of aging baby boomers in California and across the country believe that many of their financial concerns regarding health care will abate as they enter their senior years, owing to their eligibility for Medicare benefits they have worked hard for over decades.

There is certainly some reasonable basis for that expectation, given the intent of Medicare to seamlessly step in for company-sponsored or privately secured insurance coverage at the age of 65.

Could your heirs identify, access your digital assets as needed?

Are aspects relating to your so-called "digital assets" -- which are likely expanding in seemingly exponential fashion -- just about to drive you crazy? Are you having trouble simply keeping track of them?

If so, imagine what it would be like for your heirs attempting to locate and then access your various online accounts to deal with them appropriately after your death, in the event you have not helped them to do so through careful inventory and documentation.

Your college-bound child: Any estate planning considerations?

If your Southern California family has recently dropped off a child at college to begin his or her newly exciting life as a freshman, you and your spouse might be thinking that you've thought of everything that needs to be taken care of.

In fact, you -- and, importantly, your son or daughter -- might have failed to attend to some key matters.

You've set money aside for heir's education: Is it protected?

There is an obvious and clear upside related to an education savings account set up on behalf of a child or other loved one. The money grows over time and is slated to be ready and available at those important future moments when it is needed.

And, concomitantly, there is a lurking downside relevant to a so-called 529 College Savings Plan or other advanced-education funding device recognized by the federal government in some cases, namely this: The money saved might not be beyond the reach of judgment creditors.

Good news, bad news: Your inherited property is ... contaminated

Land is certainly in no short supply in the United States. It's a big country, and many millions of individuals and families own deeds to real property.

In California and elsewhere, a chunk of realty can be an envisioned central consideration in an estate plan, with a devise intended to benefit heirs.

The instructive value of Prince's ongoing estate planning war

OK, perhaps we should concede at the outset of this post that stratospheric pop star Prince did not bequeath an estate planning war in the wake of his recent passing.

Indeed, though, acrimony and massive uncertainty have prevailed regarding Prince's financial empire following his death.

When will your estate planning be done-deal complete?

It's pretty much like that annual medical check-up or every-so-often teeth cleaning. Or like that periodic oil change and kick-the-tires car inspection at the local auto shop.

We're talking revisiting your estate plan after all that initial effort you expended on working with a proven estate administration attorney to craft a sound and tailored strategy that makes optimal sense for you and your family.

A pronounced elder law concern: con artists seeking to defraud

Where elderly loved ones are living in somewhat isolated fashion from other family members, it can be prudent to check on them with sufficient scrutiny and regularity to rest assured that they are not falling prey to the machinations of third parties seeking to defraud them.

Indeed, that is a sad admonition, yet it is also a necessary recommendation, according to advocates for the elderly who often see the results of fraud efforts targeting them.

Estate planning: simplifying things for your family

Considerable common sense prevails across an article recently written by a commentator on estate planning for families.

Here's a central bottom line directed toward a planner or planning couple that is communicated in that piece: Make it easy on your loved ones.

Adult kids, parents: getting on the same page re estate planning

Uh, sooner is better than later?

If money management firm Fidelity was soliciting a short response to indicate understanding of the bottom-line takeaway in its most recent report on family communications between adult kids and parents on key estate planning matters, the above response would be a slam-dunk winner.