You just received a settlement of your personal injury claim. But, what should you do with that money? This is an extremely important question, if you receive any need-based government benefits. Receiving a large monetary payment could potentially jeopardize your eligibility for certain benefits. For example, to be eligible Supplemental Security Income (SSI), you must have less than $2,000 in assets if you are single and less than $3,000 if you are married. You must also have very limited … [Read more...] about How to Protect Personal Injury Settlement From Creditors
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What are the Maximum Assets for Medi-Cal?
Government benefits programs, which are based on need or income, have certain eligibility requirements. Since these benefits are reserved only for those who need assistance, there are certain limits to the amount of income or assets that a person can have, in order to be qualified. Medi-Cal is no exception. What type of program is Medi-Cal? The purpose of Medi-Cal is to provide assistance to low income individuals and families in paying for medical care. The program operates on both state … [Read more...] about What are the Maximum Assets for Medi-Cal?
Is Everyone Required to Honor a Power of Attorney?
You may assume that everyone one is automatically required to comply with a power of attorney that has been properly executed. The authority of the agent is not to be questioned. However, this is not necessarily true. A power of attorney can, and often is, questioned by banks and other financial institutions, for example. Business can demand additional proof that the power of attorney document is valid. Some may even reject the document altogether if too much time has passed since it was … [Read more...] about Is Everyone Required to Honor a Power of Attorney?
Leaving Your Estate to Your Spouse Tax Free
One of the most common concerns in estate planning is tax avoidance. One of the primary goals for estate plans should be decreasing or eliminating taxes, whenever possible. With the current federal estate tax rate at 40%, it is easy to see how taxes can substantially reduce your wealth. Luckily, there are easy ways to leave your estate to your spouse tax free. The Marital Deduction is Unlimited Estate taxes apply to any asset transfers you might make to your closest relatives, with a few … [Read more...] about Leaving Your Estate to Your Spouse Tax Free
When is a Power of Attorney Effective
A power of attorney is one of the most common estate planning tools used today. It is a flexible legal instrument that can be customized to fit every client’s unique needs. This customization includes the ability to create either a general or specific power of attorney, depending on the purpose of the instrument. Two equally common specific powers of attorney are for finances and healthcare. When is a power of attorney effective? That will depend on the purpose of the document and the … [Read more...] about When is a Power of Attorney Effective
What is a Conservatorship in California
What is a conservatorship in california from Scott Schomer Even more unexpected is when an illness or injury leaves a loved one incapable of taking care of themselves. If that time comes, it is helpful if you understand what options are available to you and your family. Learn more about What is a Conservatorship in California in this presentation. … [Read more...] about What is a Conservatorship in California
Incapacity Planning in California
Incapacity Planning in California from Scott Schomer Determining incapacity is a difficult and emotional process for those individuals intimately involved with the decision. Sometimes it is necessary to establish incapacity in estate planning because some estate planning tools only become effective when the person executing the instrument has become incapacitated. Learn more about incapacity planning in California in this presentation. … [Read more...] about Incapacity Planning in California
What is Incapacity in California?
What is Incapacity in California from Scott Schomer The term "incapacity" has different meanings depending on the context in which is being used. During legal proceedings, "incapacity" usually refers to an individual's ability to comprehend the nature and consequences of those proceedings. Learn more about incapacity in California in this presentation. … [Read more...] about What is Incapacity in California?
What is Medi-Cal? [Infographic]
Medi-Cal is designed to help individuals who cannot afford health insurance coverage or have special health care needs. Click here to view a larger image. … [Read more...] about What is Medi-Cal? [Infographic]
Legacy Wealth Planning in California: Protecting Your Family’s Future
Legacy Wealth Planning: Protecting Your Family's Future from Scott Schomer Legacy wealth planning is a way to help preserve your financial wealth using such estate planning tools as Wills, Power of Attorney, Living Trusts, Living Wills and many othe instruments. Learn more about legacy wealth planning in California in this presentation. … [Read more...] about Legacy Wealth Planning in California: Protecting Your Family’s Future
