Am I going to owe taxes if I inherit property? We get this question all the time. And we don’t blame you. It can get confusing. So, let’s see if we can clear up this issue. Let’s segregate the different taxes that might be owed, and then we can see if anything will be owed. The post Am I going to owe taxes if I inherit property? appeared first on Law Office of Roy W. Litherland.
Elder Care Law Firms specialize in the issues that affect seniors. They are equipped to address the legal, healthcare, social and psychological needs of seniors and to develop a plan to meet those needs in an economical fashion that protects and preserves the income and assets of the elder to the greatest extent possible. The post How an Elder Care Law Firm Can Help appeared first on Law Office of Roy W. Litherland.
by Dedra Jize, OT, CSA Geriatric Care Manager, Law Offices of Roy W. Litherland A trip or stumble can easily become a fall to the ground for an older adult, which can have devastating consequences physically, emotionally, and financially. Fall statistics have improved over the years for older adults aged 65+, but they are still unacceptable as one-fourth of older adults will fall each year. The unsettling fact is that a senior falls every 11 seconds resulting in a trip to the emergency room, and many of those will be hospitalized (National Council on Aging, 2017). What can you do [Read more…] The post Take a Step Toward Preventing Falls (An Elder Law Today Blog) appeared first on Law Office of Roy W. Litherland.
Timing is everything. How often have you heard someone express that sentiment? And while it’s often true of life in general, it’s certainly true in Medi-Cal planning. So, does an inheritance count as an asset for Medi-Cal purposes? For a single person, the answer is clearly, “Yes.” If a single individual is spending down his or her assets, and before the spend-down is completed, that individual receives an inheritance, then those assets are added into whatever that person has and must be spent down to $2,000 in California before eligibility will be completed. Likewise, if that person has already qualified [Read more…] The post Does an Inheritance Count for Medi-Cal? (An Elder Law Today Blog) appeared first on Law Office of Roy W. Litherland.