Q. My mother recently died. Her home, bank accounts and other assets were held in a Living Trust. Her financial advisor said we should now see a lawyer to help with trust administration. What? I thought if you had a Living Trust that there was little or nothing to do following the death of the… Read More »
Monthly Archives: May 2013
When Your Most Valued Assets Are Not Covered by Your Will
Q. My wife and I hold title to her home as joint tenants, and most of our cash assets are in the form of two large IRA accounts and one big annuity. We have basic wills which leaves everything to the other and then on to our children. Our son suggested that our wills may… Read More »
Understand Medi-Cal Recovery and Avoid an Unpleasant Surprise
Q. Mother recently died after spending two years in a nursing home on Medi-Cal. Medi-Cal just sent us a bill for about $150,000 and says it will file a claim against her home. Yikes! We thought her home was an exempt asset. What do we do about the bill? A. Unfortunately, your situation is all… Read More »