The SECURE Act had significant and far reaching implications for the ability to distribute retirement plans over the course of a lifetime. Since this went into effect, lifetime distributions are still allowed but they apply only to one particular category of beneficiaries, those referred to as eligible designated beneficiaries. EDBs include disabled individuals, surviving spouses,… Read More »
Blog Posts Page 3
Understanding the Treatment of Half Siblings in California Estate Planning
If you are a half-sibling and not a full sibling of someone and they intend to include you in their estate plan, it is important to understand how California interprets this ability to pass things on. If you have a half-sister or half-brother in poor health who is interested in giving you power of attorney… Read More »
Can a Trust Document Be a Verbal One?
State laws can vary from one location to another as to whether or not handwritten wills or other forms of wills could be legally accepted. When it comes to the creation of a trust for the purposes of your estate planning goals, however, it’s very important to put the trust into writing. You’ll enhance your… Read More »
What is Barrier to Show Intent to Create a Trust?
There are a number of different types of challenges that could impact the overall effectiveness of your creation of a trust. This is why it is so important to engage the services of a trusted estate planning attorney when your family is thinking about how to most appropriately use trusts as part of your estate… Read More »
Can You Transfer Assets into a Living Trust by Yourself?
We’ve covered in previous blogs the importance of setting up the right trust and in funding it effectively, but when it comes to transferring assets into a living trust you might need the support of an outside professional to ensure that it’s done properly. You are formally changing the legal ownership of any assets from… Read More »
How to start the Difficult Conversation Over Estate Planning with Your Loved Ones
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 »
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 »