Trusts have been around for hundreds of years; specifically, the living trust gained popularity in the 1970s as a probate avoidance technique. Today, living trusts are often used as a foundational document in estate plans. We’ve found that many folks have both questions and misconceptions about the living trust; so, in this three part series, we answer your living trust questions. I am confused about the different types of trusts. Is a living trust always called “living trust”? Great … [Read more...] about Answers To Your Living Trust Questions (1 of 3)
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Should I Pay a Lawyer for Medi-Cal Planning?
Elder law attorneys vary in what they charge for Medi-Cal planning; a common fee is equivalent to the average cost of one month in a nursing home. However, it will typically vary depending on the complexity of the needed planning. Why should you pay thousands of dollars for Medi-Cal planning? The answer is simple: To save what you have. If you don’t bother with nursing home planning and you need care, you will continue to pay with your private funds until they run out. Once you’re broke, … [Read more...] about Should I Pay a Lawyer for Medi-Cal Planning?
Are You Medically Qualified for Veterans Aid and Attendance?
The Department of Veterans Affairs provides a monthly pension to pay for long term care for those who qualify. One form of this pension is commonly called Aid and Attendance. There are three qualifying steps to receiving the Veterans Aid and Attendance pension; you must have served during wartime (or be the surviving spouse of a veteran who served during wartime), you must be financially needy, and you must be medically needy. In this article, we’ll focus on what “medically needy” … [Read more...] about Are You Medically Qualified for Veterans Aid and Attendance?
How Do I Know If I Need a Probate Attorney to Help Me?
Over the course of your lifetime, you will likely require the services of an attorney for a variety of different reasons. Knowing which type of attorney you need for your legal issue or problem is crucial. Just as you would not allow a pediatrician to treat a tumor in your brain, you wouldn’t hire a criminal defense attorney to help you pursue a breach of contract case. How then, do you know if you need a Sacramento probate attorney to help you with a legal matter? What Is Probate? First, it … [Read more...] about How Do I Know If I Need a Probate Attorney to Help Me?
The Little Things May be the Most Important
Your estate may be worth a little or a lot at your death. The items which your beneficiaries might cherish could be the sentimental ones. Read the following blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn how your will or trust could provide the ability for you to keep a list and update it without needing to see your lawyer every time you change your mind on an item. The Little Things May be the Most Important … [Read more...] about The Little Things May be the Most Important
Domestic Asset Protection Trusts
Domestic Asset Protection Trusts are spreading to more jurisdictions. However, their protections may be waning. Read the following blog by my friend and colleague Steve Hartnett, an estate planning expert, to learn more about Domestic Asset Protection Trusts. Domestic Asset Protection Trusts … [Read more...] about Domestic Asset Protection Trusts
Long-Term Care Insurance vs. Medi-Cal
You may think you are too young yet to be seriously considering the likelihood that you will need long-term care at some point down the road. However, you may want to make a point of thinking about the possibility to ensure that you can afford to pay for it when the time comes. Unless you have the ability to cover long-term care (LTC) costs out of pocket you will probably need to rely on a long-term care insurance policy or Medi-Cal. In this blog, we will explain how long-term care insurance … [Read more...] about Long-Term Care Insurance vs. Medi-Cal
SALT Deduction Limit…Can You Get Around It?
The Tax Cuts and Jobs Act increased the standard deduction amount. However, it also limited itemized deductions for state and local taxes (SALT) on the federal income tax return. This is a concern for many California homeowners due to the relatively high value of homes in California. Read the following article by my friend and colleague Steve Hartnett, an estate planning expert, to learn what works (and what doesn’t work) to maneuver around the $10,000 SALT limitation. SALT Deduction … [Read more...] about SALT Deduction Limit…Can You Get Around It?
What is the difference between a “Conservator” and a “Guardian”?
In California, a “conservator of the person” is the individual who makes general welfare, health care, educational, and life-style decisions for an incapacitated adult. An adult may become incapacitated due to dementia, disease, or disorder. In some other states, this person is called a guardian. However, as noted below, in California, a guardian is the person appointed in connection with a minor (under 18) child. Examples of decisions would be where someone lives and what medical … [Read more...] about What is the difference between a “Conservator” and a “Guardian”?
Should You Include Funeral Planning in Your Estate Plan?
Your estate plan has the potential to protect you while you are alive and after you are gone. That same plan can also protect loved ones both now and after you are gone. To do that, however, you may need to spend some time contemplating a subject matter that won’t be particularly comfortable –your own funeral and burial. Although it isn’t something people want to dwell on, the reality is that funeral and burial planning are among the top elder law issues. The Dollars and Cents of Death It may … [Read more...] about Should You Include Funeral Planning in Your Estate Plan?
