One of the hardest things for aging parents and their adult children to do is sit down and have a frank discussion about the future. Such conversations are difficult for two principal reasons: they involve acknowledging the realities of aging and mortality, and financial details must be shared. But putting off these conversations until it's too late can have catastrophic consequences, both financial and emotional.
In this way, Taylor allows children of aging parents to cut issues down to size and often turn potential obstacles into opportunities. The book is filled with case studies, tips and checklists.
The book's wise counsel, however, is somewhat undercut by some gratuitous and completely false comments about the consequences of Medicaid (also known as Medi-Cal in California) transfers -- comments that seem aimed simply at scaring the elderly and their families into avoiding Medicaid planning at all costs. Taylor implies that elders could be accused of "defrauding" Medicaid merely for transferring assets within Medicaid's lookback period, and that they could be subject to "civil and criminal charges and fines" for doing so. If you or someone you know has questions about Medi-Cal planning, contact our office at 1-800-756-5596.
