“The only thing that is constant is change.” ~Heraclitus In our recent newsletters, we have been exploring and debunking many myths about the Medi-Cal Long Term Care program that seem to abound. The focus of the most recent articles has been the myths surrounding the home, including the right of Medi-Cal to assert a claim against a Medi-Cal recipient’s home for the cost of the benefits conferred during his or her lifetime. The primary target for many Medi-Cal “recovery” claims is the … [Read more...] about Myths About Medi-Cal, Part IV
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California Trust Laws Regarding Irrevocable Trusts
A trust is often used in estate planning as a method for management of assets long-term. Those trust assets are transferred into the trust. With irrevocable trusts, the transfer is permanent, meaning that the grantor (the person who creates the trust) must give up all control and ownership of the property. Because the trust is considered irrevocable, it typically cannot be modified in any way after the trust has been executed. However, California trust laws provide for the modification of … [Read more...] about California Trust Laws Regarding Irrevocable Trusts
Common Elder Law Myths Dispelled
When Sacramento clients ask about creating an elder law plan or other elder law issues, the questions most commonly involve certain elder law myths. The reason there are so many misconceptions about elder law issues is that not many people are familiar with the concept of elder law. This article will dispel some of the most common elder law myths floating around. Myth No. 1: My spouse will automatically be able to handle my affairs It is a common misconception that spouses can easily and … [Read more...] about Common Elder Law Myths Dispelled
Sacramento estate planning attorney explains the Purposes of Estate Planning
The purpose of estate planning is to prepare clients and their families for the possibility of incapacity and death. There are several different estate planning tools you can use for your plan, depending on the goals you have for the future. An experienced and qualified estate planning attorney can help you choose the right tools for your estate plan. Planning for possible incapacity Incapacity can be the result of a medical condition or an injury. The legal concept of incapacity refers to … [Read more...] about Sacramento estate planning attorney explains the Purposes of Estate Planning
What You Need to Know about an IRA Inheritance Trust
There has been a long-standing debate about whether inheriting IRA assets in a trust is better than to simply receive the assets directly. A recent U.S. Supreme Court decision has brought this issue to light once again. But there are some things you should consider before making the decision to include an IRA inheritance trust in your estate plan. Recent court decision makes an IRA inheritance trust a wise choice The Supreme Court's decision in Clark v. Rameker has shed light on the need for … [Read more...] about What You Need to Know about an IRA Inheritance Trust
The Difference between Wills and Trusts
Certainly everyone is familiar with the estate planning terms "will" and "trust," but not everyone understands the differences between the two estate planning tools. Wills and trusts are both useful estate planning instruments that serve very different purposes. Despite their dissimilarities, both can work together to create a comprehensive estate plan. Wills and trusts are needed for estate planning Regardless of how old you are and how much money you may have, it is important to prepare … [Read more...] about The Difference between Wills and Trusts
Your Estate Planning Attorney Explains the Dos and Don’ts
As with many legal matters, an estate planning attorney has his or her share of horror stories from years of working with clients to create an estate plan. Whether its issues relating to property ownership or family disputes over a loved one's estate, problems in passing on an estate are very common. Unfortunately, most clients assume that their children or beneficiaries will be willing and civilized enough to work things out on their own. Consequently, many people believe they don't need … [Read more...] about Your Estate Planning Attorney Explains the Dos and Don’ts
How Does a Living Trust Work?
For most clients, creating a living trust is a way to avoid the time and cost of probate. Each state has its own probate laws establishing the requirements for probate administration. If you are considering a living trust as part of your estate plan, then you are likely wondering how does a living trust work? Here is what you should know. What exactly is a living trust? A "living trust" is a particular kind of trust that goes into effect during your lifetime, as opposed to being created by … [Read more...] about How Does a Living Trust Work?
Disability Rights California Provides Protection and Advocacy
Residents of California who have a disability or a loved one with a disability have many resources available to them. One of those valuable resources is Disability Rights California. This organization provides advocacy for important issues facing individuals with disabilities, even when the outcome is unclear. Their approach is multi-faceted, including self-advocacy, legal, non-legal, media, public policy, legislative and investigatory. Disability Rights California values diversity by … [Read more...] about Disability Rights California Provides Protection and Advocacy
Mistakes Not to Make in Retirement Planning
Retirement is meant to be relaxing, but the thought of retirement for some may instead be stressful. A common concern many clients have is whether they will have sufficient income or savings to be able to have a comfortable retirement. Clients often wonder when they need to start saving and what is the best strategy. If you get your estate planning attorney to help with your retirement planning, you should be able to avoid most of the common mistakes. Be sure to put away sufficient … [Read more...] about Mistakes Not to Make in Retirement Planning
