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Revocable Trusts

Dear Len & Rosie,

My parents have a revocable trust naming my brother and I as beneficiaries. My parents want to change the trust eliminating my brother. Their trust is very simple and their assets are moderate. Those consist of their home, and bank accounts. Total assets are below $500,000. Would it be easier to dissolve the trust and have them add me as joint owner of the home with right of survivorship as well as adding my name to the bank accounts as joint owner with right of survivorship? My brother also has a power of attorney which needs to be withdrawn. How do they do that?

John

Gifting Rules and Medi-Cal

Dear Len & Rosie,

My Dad is 90 years old and in excellent health except for losing his eye sight to macular degeneration. He can no longer live alone. He has approximately $300,000 in the bank. He has three children, and I understand that he can give us each $13,000 per year. Are there any circumstances that he can give us more? The reason for this question is the rule about not giving gifts over $13,000 for a three year period before you enter a nursing home.

Sandy