AboutBruce Julien Expertise I can answer questions on and raise issues clients overlook in the areas of Estate Planning as far as taxes and distribution flow problems, Asset Management as far as appropriateness of assets and allocations for a desired goal and the value a consumer gets for their costs, Tax Planning related to Income and Estates, and Insurance/Annuity questions particularly in light of suitability to the consumer.
Experience I became a CPA in 1991 and began offering financial advice in 1992. I am a Registered Investment Advisor which means I sign off on putting clients' interests first in a fiduciary role.
Education/Credentials BA in Accounting, University of Maryland 1990
Question My mother has been living in central California in her house for the past 30 years. My father in his house in northern California for 30 years as well. Both houses were owned 50/50 jointly. My father became moderately incapacitated due to Alzheimers/dementia, and had to leave his house. My fathers' house becomes my mothers' property now that he's mentally incapable of managing it anymore. Since the real estate market isn't too good right now, we were wondering some good options on how to use the second house for the next few years? Is there tax advantages to just hanging onto the house (not renting it), and visiting it less than 14 days a year to maintain it? My mother is 90, my father 85.
Answer Carl sorry you are in this boat - my own situation is in this world too. You NEED to sit with a medicaid / eldercare attorney in CA since CA is a different kind of state. Tax and even investment options are secondary to the atty discussions.
