While you may prefer not to think about it, the reality is that you, or a spouse, may need long-term care at some point in the future. If you do end up needing long-term care (LTC) you may find yourself turning to Medicaid (known as Medi-Cal in California) for help covering the cost of that care. Because you may need to qualify for Medi-Cal, and the eligibility guidelines are complex, LTC expenses are something that should be addressed within your comprehensive estate plan to ensure that you … [Read more...] about Understanding Medi-Cal Spend-Down
Why Is Nursing Home Planning Important?
Your estate plan should focus on more than just the distribution of your assets after you are gone. Which additional goals you include in your plan will depend on your unique needs and wishes. One component you may want to consider including in your estate plan, however, is nursing home planning. The staff at the Northern California Center for Estate Planning & Elder Law discuss why nursing home planning is important. Will You Need Nursing Home Care? The average life expectancy in the … [Read more...] about Why Is Nursing Home Planning Important?
Economic Fallout from Coronavirus May Provide Opportunities
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. While healthcare systems have fought the virus, economies have been hurt by the social distancing required to combat the virus. However, there may be an opportunity for those wishing to do certain types of Estate Planning. Read this article by my friend and colleague Steve Hartnett, an estate planning expert, to learn more. Read on to learn more … [Read more...] about Economic Fallout from Coronavirus May Provide Opportunities
Coronavirus and Nursing Homes
The novel coronavirus, COVID-19, is spreading in the United States and across the globe. Social distancing and self-quarantine can help slow the spread. The virus is a particular threat to residents of nursing homes. Read this article by my friend and colleague Steve Hartnett, an estate planning expert, on to learn more about the threat and how you can keep your loved ones safe. Read on to learn more … [Read more...] about Coronavirus and Nursing Homes
What Are the Duties of an Executor?
When you create your Last Will and Testament you will have to make a number of decisions. Although you may not realize it, one of the most important of those is the appointment of your Executor. To help you better understand why you should choose your Executor carefully, the staff at the Northern California Center for Estate Planning & Elder Law discuss the duties of a Sacramento Executor. Executor Duties Initiating the Probate Process. As soon after your death as possible, your … [Read more...] about What Are the Duties of an Executor?
What to Consider When Creating a Trust
Given the wide variety of estate planning goals that can be furthered using a trust, there is a very good chance that you will choose to include a trust agreement in your estate plan at some point. With that in mind, the staff at the Northern California Center for Estate Planning & Elder Law discuss what to consider when creating a trust. Creating a Trust Have a clearly defined trust purpose. Because trusts have evolved so much, there is now a specialized trust to help meet almost any … [Read more...] about What to Consider When Creating a Trust
Families Gather in Novel Ways in Pandemic
COVID-19, the novel coronavirus, has been a challenge confronting countries around the world. The disruptions from the social distancing required to fight the virus have been felt by people around the world. As we mark passing holidays, we reflect on the importance of family. Learn how to share time with family during this pandemic and tackle tasks such as Estate Planning. See the attached posting by my friend and colleague Steve Hartness, an estate planning specialist. Families Gather in … [Read more...] about Families Gather in Novel Ways in Pandemic
Why You Should Consider a Professional Trustee
A trust can be a beneficial addition to your estate plan for a number of reasons. Not only can a trust help your estate avoid probate, but it can also help protect your assets, plan for your incapacity, or even protect your minor child’s inheritance. If you decide to incorporate a trust into your estate plan, you will need to appoint a Trustee to administer the trust. With that in mind, lets explore why you should consider a professional Trustee. What Is a Trust? A trust is a legal … [Read more...] about Why You Should Consider a Professional Trustee
Is a Family Limited Partnership Right for Me?
If you are one of the millions of people for whom owning a family business is part of the American dream, and you are planning to make that dream a reality, you have a number of difficult decision ahead of you before your business can officially get off the ground. One of the most important of those decisions is the type of legal entity you want for your company. If you are certain you wish to keep the business in the family, a Family Limited Partnership might be right for you. We will explain … [Read more...] about Is a Family Limited Partnership Right for Me?
How Joint Ownership Can Help Avoid Probate
A thorough and comprehensive estate plan will make use of a wide range of estate planning tools and strategies in order to meet the needs of the plan’s creator. For example, if your goal is to pass your assets to loved ones as quickly and simply as possible after your death, probate avoidance tools and strategies should be incorporated into your estate plan. One of those strategies focuses on how you title property. We'll explain how joint ownership can help avoid probate. Joint Ownership in … [Read more...] about How Joint Ownership Can Help Avoid Probate
