It is very hard to open the conversation around the importance of estate planning with your elderly parents, but it is also a crucial conversation that you need to have to know what planning has or has not yet been done. It is essential for every family to have some line of communication over these… Read More »
Blog Posts
Have You Protected Your Own Retirement Financial Security?
You’ve been told to save for retirement your entire life and might have even based some of your career and job choices around places where you have the opportunity to save for retirement. But don’t forget about some of the biggest costs in your retirement years that you’ll need to pay for; long term care… Read More »
Just Because Many Estate Plans Fail Doesn’t Mean Yours Have to
Any number of celebrity estate planning stories provide some serious caution about what can happen to your family if you don’t plan for your estate. But those mistakes are not just important because of the sums of money involved. This problem is found in the experiences of many families in the U.S. who don’t follow through… Read More »
Trust Funding: It’s More Important Than Ever
Creating a trust is a process best done with the support of a Pasadena trust lawyer. But remember, that’s only phase one. A trust is only as powerful as the work done to make it official by transferring assets into the trust with proper titling. Probate challenges and overall headaches within your estate can be… Read More »
What Assets Should Be Listed in a Probate Inventory?
For the purposes of closing out an estate and probate court, an inventory of assets must be completed in order to recognize the value of the estate. A probated estate can be expensive and time consuming, so it is important to think about this well in advance by completing the appropriate beneficiary designations and titling… Read More »
Planning for Life and Death with Trusts
Trusts are a very versatile and popular estate planning tool because you can plan for both your life and your death. You need to have an estate plan in place to care for issues that arise during the course of your life and for the management of your assets after you pass away. Knowing that… Read More »
Can a California Resident with Dementia Receive Medicaid?
Recent studies have shown that the impacts of people affected by dementia are far reaching. Approximately one half of nursing facility residents today and one in five seniors has possible or probable dementia. This disease, also recognized as Alzheimer’s, is a syndrome characterized by progressive and chronic decline in cognitive functions, such as judgement, communication… Read More »
Home Health Care and Medi-Cal Benefits
As part of the state Medicaid plan known as Medi-Cal, home health services can be covered for certain individuals. These home health services are only approved and paid for through Med-Cal when they are deemed medically necessary, including expenses such as medical equipment and skilled nursing care. The need for extra support is very common… Read More »
What Does Intermediate Care Have to Do with Medi-Cal Benefits?
In this three-part series, you’ll learn more about how California’s Medicaid program, Medi-Cal, is managed and what that means for applicants. It’s a common concern for a family member of someone who needs nursing home support to wonder about how to these benefits. Not every person who needs nursing home care will necessarily qualify for… Read More »
What is Conservatorship in California?
There are many different terms that come up in the process of tackling your estate or your elder law planning. For plenty of our Pasadena estate planning clients, these can be confusing from the perspective of connecting them to your individual plan. As we offer guidance on these issues regularly, this blog will help to… Read More »
Understanding Share of Cost in California’s Medi-Cal Program
Do you have a plan for your assets so that you could qualify quickly for Medicaid if you needed it? It can be overwhelming to try to uncover all the resources around qualifying for Medicaid. Often, when we first sit down with clients in our Pasadena elder law office, they have many questions about qualifying… Read More »
Questions to Ask About Your Family Business Interests Before an Estate Planning Meeting
Your first meeting with an estate planning attorney or a business succession planning attorney is your initial conversation to discuss your primary area of interest and how to best create a comprehensive estate plan. Having a consultation with an attorney can help you to identify where family business interests connect to your estate and elder… Read More »
What Qualifies as Executor Incompetence or Misconduct?
Who you choose as the executor or personal representative for your estate really matters. In the event of a conflict where it can be shown that the person you chose has violated the rules or ethics, they could be removed from their role. Courts can remove executors in certain situations when they have been appointed… Read More »
Are Any Medi-Cal Benefits Available for Assisted Living Facility Residents?
Making the decision between keeping a family member at home, moving them to an assisted living facility or placing them in a nursing home can be very complicated. You and medical practitioners involved with the patient’s care will need to carefully consider what the patient truly needs. An assisted living facility is a great in-between… Read More »
How to Formalize Your Business Succession Plan
You know that you want to empower key leadership in your company to take over and step into bigger roles if and when you need to depart. You probably also know that there may be some documents in place, such as contracts or buy/sell agreements that stipulate the circumstances under which you could leave the… Read More »
Two Options for Transferring a Business
Engaging in the process of business succession planning can be extremely fulfilling as you think about your legacy and how you will pass on the company you have worked so hard to build. Often the first step involves a conversation with any of the financial professionals that the business owner has a relationship with, such… Read More »
COVID-19, the CARES Act, and Your 2020 RMD — Part 3
I hope all of my readers continue to be well. In my May 1 posting, I wrote about how the CARES Act waives required minimum distributions from retirement accounts for 2020, and, if you’ve already taken a distribution this year, that you can return it under certain circumstances. However, I also pointed out that you… Read More »
New Study Shows that Americans Trust Themselves Rather Than Financial Advisors
When it comes to getting accurate financial advice, there are many different factors to consider. It’s easy to become overwhelmed in thinking about how your current finances could influence your future and all of the different details and questions that you should ask in preparing for a comprehensive financial picture. A recent study from Northwestern… Read More »
Does Life Insurance Cover My Estate Needs?
Already have a life insurance policy through work? Good- this is an important first step towards protecting your family if something were to happen to you. A life insurance policy on its own, however, probably doesn’t cover all your needs. Insurance proceeds could be an important component of your ability to quickly transfer cash assets… Read More »
What Is the Difference Between a Financial and a Medical Power of Attorney?
There are a variety of different kinds of documents that you might use in the estate planning process. It is important to recognize that not all of these accomplish the same goals although they will all be required to adhere to relevant state laws. This is why it’s a good idea to have a relationship… Read More »