When it comes to the potential need for long-term care, Medi-Cal planning is needed to protect your assets, especially your home, from Medi-Cal recovery. One way to do that is to create an irrevocable Medi-Cal trust. But, what if you want to revoke that trust later on? Here is what you need to know. The benefits of Medi-Cal planning The purpose of Medi-Cal benefits is to assist California residents in paying for medical services. Because Medi-Cal is a needs-based program, unmarried recipients … [Read more...] about Medi-Cal Trusts as Part of Medi-Cal Planning
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Planning to Enjoy Thanksgiving
Planning ahead is the loving thing to do. Whether it is for a Thanksgiving meal or for your estate plan, planning is imperative. This article points out the various consequences of your failure to plan, including the increased likelihood for family discord. Read on to learn how planning ahead can help achieve the desired results. Planning to Enjoy Thanksgiving … [Read more...] about Planning to Enjoy Thanksgiving
Orangevale Couple Celebrates Their 50th Anniversary
Reaching a significant milestone, Orangevale couple Jim and Judy Shephorn have been married for 50 years. Equally impressive, the Shephorns drove to Reno to renew their vows in the same care they drove to get married 50 years ago – a 1965 Chevy Impala. This incredible achievement should remind us all of the importance of early retirement planning. Great advice from father to son Jim Shephorn said in an interview that his father gave him great advice when he was young. Jim said, “My dad told me … [Read more...] about Orangevale Couple Celebrates Their 50th Anniversary
Tax Reform and the Estate Tax
There’s a Republican blueprint for tax reform. Learn the general provisions of the plan and the uncertainties in it. Read on to learn more. … [Read more...] about Tax Reform and the Estate Tax
Basics of Estate Planning: Asset Protection
This is another in a series of blogs on the basics of estate planning. In this blog, we’ll take a look at asset protection. Much depends upon whose assets you are looking to protect. If the assets are those that are coming to you, the debtor, then typically, those can be protected completely. The debtor could protect their own assets in three general ways: 1) insuring against the risk, 2) shifting the assets into categories protected under state law or federal bankruptcy law, or 3) … [Read more...] about Basics of Estate Planning: Asset Protection
Elder Law Attorneys Warn of the Pitfalls of Joint Ownership
There may be a certain appeal to establishing joint ownership in property, primarily because it allows the other person to automatically inherit that property without the need for probate. For that reason, seniors often create bank accounts naming spouses or family members as joint owners, or add a relatives name to real estate. But there are a few reasons why this may not be the best option. Our elder law attorneys warn against using this technique as part of your estate planning. Transferring … [Read more...] about Elder Law Attorneys Warn of the Pitfalls of Joint Ownership
Healthy Californians Should Still Plan for Long-Term Care
An issue that every Sacramento Medi-Cal planning attorney faces is the client that ignores the need for Medi-Cal planning because they are healthy. What clients must understand is that sickness is not the only reason you may need long-term care. For example, if you suffer a serious injury in a car accident, there is certainly a possibility that you will need long-term care in order to fully recover from that injury. In many cases, loved ones are admitted to nursing homes because of the need … [Read more...] about Healthy Californians Should Still Plan for Long-Term Care
What Happens to Community Property When a Sacramento Couple Separates?
In California, property that was acquired during the marriage is considered part of the “community” and is typically divided equally between the spouses. Issues with regard to community property can arise in divorce and after the death of a spouse. When these events occur, spouses are often left with the overwhelming task of splitting up property and assets, including cars, furniture, and family homes. As a Sacramento estate planning law firm, we understand that the nature of your property is an … [Read more...] about What Happens to Community Property When a Sacramento Couple Separates?
Can a Trust Agreement be Set Aside?
No matter what your goals are for your trust, it needs to be administered by someone. Trust administration involves investment management, implementing charitable giving strategies, risk management, insurance and business succession planning, when applicable. The trustee you choose to manage your trust and its administration will be responsible for fulfilling the terms of the trust. There are situations where the trust agreement may be challenged. In those cases, having the assistance of … [Read more...] about Can a Trust Agreement be Set Aside?
Law in the U.S. can be Participatory
In some countries, like a dictatorship or a true monarchy (not a constitutional monarchy such as the United Kingdom), people do not really participate in making the law. The law is handed down by fiat. In the United States, our laws are enacted by our elected representatives. Sometimes, those laws may be viewed as violating the fundamental rights guaranteed to all of us by our Constitution. That’s when the judiciary may be asked to step in to make an impartial determination as to whether the law … [Read more...] about Law in the U.S. can be Participatory
