While you might be quite familiar with wills and trusts, you may not be so familiar with the actual differences between these two common estate planning tools. Wills and trusts serve very different purposes when it comes to estate planning. Nevertheless, despite their differences both can work together to establish a comprehensive estate plan. Wills and trusts are great strategies for estate planning Regardless of age or the size of your potential estate, it is important to be prepared and to … [Read more...]
California Bill Limits Medi-Cal Recovery Against Probate Estates
It is generally understood that California’s Medicaid program, known as Medi-Cal, has the ability to seek reimbursement of the medical costs paid out during an individual’s lifetime from that person’s probate estate after their death. In fact, this is a big concern for most people considering whether to apply for Medi-Cal to cover their nursing home expenses. However, we are aware of the new bill recently passed in California that limits Medi-Cal’s recovery against your probate … [Read more...]
Do Estate Planning Lawyers Recommend Digital Estate Planning?
Having your own a customized estate plan has become more and more common. Digital estate planning has also become more common. But, what exactly is meant by digital estate planning? Nowadays, everyone has at least one digital asset, if not many. Digital assets include any property that is either based on a computer or involves the internet is some way, like online businesses and email accounts. Planning for who should inherit those assets and who should have the necessary information to access … [Read more...]
How Can Medi-Cal Planning Save Previously Transferred Assets?
One of the primary concerns clients have about Medi-Cal eligibility deals with previously transferred assets. In many cases, clients have already taken some bad advice and given away their assets in anticipation of applying for Medi-Cal benefits. However, as Medi-Cal planning lawyers understand, there are still options even for your previously transferred assets. Here is what you need to know. Medi-Cal eligibility for Sacramento residents Medi-Cal is essentially one basic benefits program that … [Read more...]
Estate Planning Tips for Newlyweds
When a couple ties the knot, their lives change in a variety of ways. When a couple begins their new lives together, it is important to think about all of the changes and updates that need to be made. Having a comprehensive estate plan that includes both people is a great way to start. With the help of our Sacramento estate planning lawyers, you can be sure that you are both on the same page with regard to financial affairs, health care, and end of life decisions. The need to update … [Read more...]
Recent Loss of Music Venues in Sacramento Reminds of Need for Asset Protection
According to news reports, Sacramento has lost two very popular music venues in only a week’s time. These losses have left a gaping hole in Sacramento’s independent music scene. First, the Starlite Lounge, located on 21st Street hosted its final show on June 25, 2017. The Naked Lounge coffee shop, a smaller venue located downtown, hosted its final show on June 30, 2017. The closing of these two venues should remind all business owners of the need for asset protection planning. Struggling … [Read more...]
How Elder Law Attorneys Can Help With Your Nursing Home Planning
One of the major concerns most people have in nursing home planning is how to protect their assets from being completely exhausted by nursing home expenses. Although a trust can be a great strategy, not every type of trust provides the asset protection you need. If you engage in proper nursing home planning, including the use of the right type of trust, you may be able to avoid exhausting your assets just to pay for nursing home costs. Let our Sacramento trusts lawyers help. What is a … [Read more...]
What Experienced Estate Planning Attorneys Know About Trusts and Wills
The basic purpose of estate planning is to prepare for the possibility of incapacity and for death. Your estate plan can include various types of estate planning tools, including trusts and wills. The variety of estate planning strategies that are available allows you to customize a comprehensive estate plan to fit your needs. This article will explain what experienced estate planning attorneys know about trusts and wills. Everyone can use a will or trust, not just the wealthy Many clients … [Read more...]
Will My Parent’s Estate Be Subject to Medi-Cal Estate Recovery?
A common concern for many clients who are Medi-Cal recipients is that if they use Medi-Cal to pay for long-term care, they will lose everything they have. There is a misconception that Medi-Cal will take their homes or leave their healthy spouses penniless. Another concern is that once a Medi-Cal recipient passes away, Medi-Cal will come after their estate. We are here to explain how estate recovery works. What does “estate recovery” mean for Medi-Cal recipients? It is a requirement that, when … [Read more...]
Hit-and-Run Should Remind us of the Need for a Sacramento Estate Planning
Five days after a hit-and-run accident on Vaca Valley Parkway, a bicyclist has been released from the hospital. He was riding his bicycle when a young woman ran a stop sign on Crystal Springs Drive and struck him. The victim sustained contusions and road rash, which he believed were the extent of his injuries. However, after returning home and taking a shower, he soon realized he was having trouble breathing. When he returned to the hospital, he was diagnosed with post-traumatic respiratory … [Read more...]
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