Most clients believe that, in order to qualify for Medi-Cal, they must transfer their property to someone else, before they can apply for benefits. In reality, though, transferring certain assets at any time within five years of submitting your application may result in a delay in receiving benefits. However, with proper planning, you can retain control of your assets and still qualify for Medi-Cal benefits. One option is to use an annuity. You should first discuss this option with an … [Read more...] about Sacramento Medi-Cal Planning Attorneys Explain how to Use Annuities
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Nursing Home Planning for Seniors
Nursing home care can be very expensive. Many private health insurance policies don't cover these long-term care services. For California residents who need long-term care, Medi-Cal is the most common source of funding. In fact, Medi-Cal covers nursing home care expenses of nearly 65% of Californians residing in nursing homes. However, applying for and receiving assistance from Medi-Cal takes planning. Getting your parents prepared for the potential need for long-term health care, nursing home … [Read more...] about Nursing Home Planning for Seniors
What if Avoiding Probate is my Goal for Estate Planning?
Although most people request an estate plan that helps with avoiding probate, not everyone actually understands what that means. Avoiding probate court does not simply mean avoiding estate taxes. If avoiding probate is your estate planning goal, here are four ways to accomplish that goal. What is the purpose of probate? Basically, probate is a legal procedure conducted by the California probate court in order to transfer ownership of assets to beneficiaries after someone dies. Put another way, … [Read more...] about What if Avoiding Probate is my Goal for Estate Planning?
Sacramento Trust Attorney Discuss Various Trusts and Their Benefits
A trust can be a very useful estate planning tool, particularly because they can help you to minimize estate taxes and possibly avoid probate. Trusts are essentially fiduciary agreements, meaning they are built on trust and confidence, between the grantor (the person making the trust) and the trustee. The trust agreement gives the trustee the authority to manage the trust assets, including distributing the trust assets to the named beneficiaries as instructed by the trust document. There are … [Read more...] about Sacramento Trust Attorney Discuss Various Trusts and Their Benefits
Errors to Avoid in Sacramento Trust Administration
If you have been called upon to serve as a trustee, you have a very important job. The role of trustee is an essential component of successful Sacramento trust administration. The trustee is the person responsible for ensuring that the terms of the trust document are followed. A trustee is ultimately responsible for managing the trust property and keeping accurate records of all transactions. This is a great responsibility, so here are some of the common mistakes you should try your best to … [Read more...] about Errors to Avoid in Sacramento Trust Administration
Applying for Veterans Aid & Attendance Benefits
You may not be aware of this, but certain wartime veterans who have 90 days of active duty, one day of which began or ended during a period of war, is eligible for Veterans Aid & Attendance benefits. Surviving spouses who were married at the time of the veteran’s death may also be eligible. There are certain financial and medical qualifications that may apply. Here is what you need to know. Medical qualifications for Veterans Aid & Attendance benefits In order to qualify medically … [Read more...] about Applying for Veterans Aid & Attendance Benefits
How Sacramento Probate Attorneys Can Be Helpful
When someone passes away, the assets making up their estate need to be distributed to their heirs. In many cases, in order for those assets to be properly distributed the estate must go through the probate process. Probate involves several steps, including proving the existence of a valid will if there is one, identifying the property and creating an inventory, appraising the property as necessary, paying debts, funeral expenses, and taxes, and then distributing the remaining property to heirs … [Read more...] about How Sacramento Probate Attorneys Can Be Helpful
How to Avoid Intestate Succession with an Estate Plan
One of the purposes of estate planning is to prepare for your death and avoid intestate succession. The laws of intestate succession determine who gets what if you die without a will. In general terms, if you die without a will in California, your assets will go to your closest relatives. Here is what intestate succession is and how you can avoid it. California's Laws of Intestate Succession If you die with surviving children, but no spouse, parents or siblings, your children will inherit … [Read more...] about How to Avoid Intestate Succession with an Estate Plan
Trust Lawyer Explains the Discretionary Trust
Trusts are one of many important tools that can be included in an overall estate plan. A discretionary trust is a particular type of trust that provides the trustee with broad discretion regarding how the trust property is managed and distributed. Unlike a fixed trust, beneficiaries of a discretionary trust can only receive distributions from the trust property when the trustee exercises his or her discretion to do so. So, if you are trying to determine what type of trust you need, let a trust … [Read more...] about Trust Lawyer Explains the Discretionary Trust
Mistakes to Avoid in Your Retirement Plan
A major concern for most people, when it comes to retirement is whether they will have enough savings to be able to enjoy a comfortable retirement. They wonder when to start saving and what retirement planning strategies should be used. Your golden years should be relaxing – not stressful. So, if you need help getting started with your retirement plan, discuss your goals with your estate planning attorney in order to avoid some of the most common mistakes. Don’t wait too late to start saving … [Read more...] about Mistakes to Avoid in Your Retirement Plan
