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Encino Trust Attorney Answers, “What Should a Special Needs Trust Pay For?”

Trustees of special needs trusts shoulder an incredible amount of responsibility. In addition to providing care for the individual with special needs, they must also make sure the assets in the trust are spent wisely and will not disqualify the person from any benefits they may be receiving.

How to Qualify for Medi-Cal – Even If You Have Too Many Assets

Medi-Cal is a needs-based program meant to help those without considerable resources access medical care and benefits. Since it is needs-based, there are significant asset and income limits attached to eligibility, which can easily lead to a disqualification from receiving benefits if the assets are not monitored closely. However, there are several ways to prevent a Medi-Cal eligibility disqualification through the use of trusts. For the purposes of this article, we’ll focus on how an irrevocable trust can help if a person expects to receive Medi-Cal benefits in the future and a First-Party Special Needs Trust if a person is ready to receive Medi-Cal benefits.

Encino Estate Lawyer: What Happens to Your Digital Assets After You Pass Away?

Digital assets and what happens to them after you pass away are fairly new concerns for people. However, this issue must be given significant thought, since so much of our lives are impacted by the digital age. To help alleviate these concerns and give more control to those managing estates of the recently incapacitated or deceased, Congress passed The Revised Fiduciary Access to Digital Assets Act, otherwise known as RUFADAA. This act allows fiduciaries (executors, trustees, and agents working with a Power of Attorney) to manage digital accounts owned by others, while at the same time affording the account owner a level of privacy.

LA County Elder Law Attorney: How to Help an Elderly Parent Manage Money

A concern for many adult children with an aging parent is whether or not they can still handle money and make sound choices regarding their financial affairs. There are many reasons why an elderly parent would have trouble handling their own finances, usually due to some physical or mental ailment or the loss of a spouse who normally handled the finances, though there are other times when the parent just decides they would rather have someone else handle financial decisions, so they may focus on other things.

Encino Trust Lawyer Answers: “What is a Qualified Personal Residence Trust (QPRT)?”

Family homes and other real property are usually the most valuable assets in an estate. While homeowners may want to leave these properties to children or other beneficiaries as part of an inheritance, tax burdens can throw a wrench into those plans. Unfortunately, without proper planning, most beneficiaries cannot afford the taxes that come along with inheriting property, which usually forces the sale of a family home or other property after the homeowner dies.

Happy Valentine’s Day!

I certainly hope everyone had a wonderful Valentine’s Day! it’s a fun time of year and many new families begin with romantic proposals on this day every year. There are no hard and fast statistics, of course, but it’s estimated that about 10% of all engagements take place on February …

What Happens In Vegas….

In the last couple of weeks, Karen and I had to travel to Las Vegas for a wedding. You may remember this is where Karen lived when we met. So, it wasn’t a quickie, drive thru chapel type wedding. It was a real bash! Karen was a bridesmaid for the …

What happens if I die without a will?

This is the answer to that question on the State of California’s website: If you are not married or in a registered domestic partnership, your assets will be distributed to your children or grandchildren, if you have any—or to your parents, sisters, brothers, nieces, nephews or other relatives. If your …

Who Cares For Ya, Baby? (Client Care Program Information)

If you are too young to remember Kojak’s (Telly Savalas’ tv series) famous line, “Who loves ya, Baby?” then, you may not get my question, but no matter.. . It’s a quote just too fitting for me to let you know about our improved Client Care Membership Program. (It’s goooood …

Jacuzzi-In-A-Cave

Well, Karen did NOT disappoint me on my birthday! If you read my last post, I told you she left before me to visit her family in Israel, and I joined her right before my birthday and our 1st year wedding anniversary. She told me she had several yet-to-be-revealed “gifts” …

A Higher Level of Estate Planning

Most people who consider estate planning want to accomplish at least one of five specific goals. Those goals are: The ability to maintain control of assets while alive. This includes investment and managerial control. Access to the assets. This includes access to both the principal and the income. In short, …

What are the general benefits for VA Aid and Attendance Benefits?

2010 Maximum Pension Rates for Aid and Attendance Single Veteran $1,644.00 Per Month or $19,736.00 Per Year Married Veteran $1,949.00 Per Month or $23,396.00 Per Year Widowed Spouse $1,056.00 Per Month or $12,681.00 Per Year Veteran Married to Veteran $2,540.00 Per Month or $30,480.00 Per Year To get more …

Israel, the Flu, Birthday Boy and 1st Anniversary…

What a Happy Holiday Season this is turning out to be! I certainly hope that you and your family and loved ones are also enjoying the festivities and the true spirit of the times when we remember our blessings and give to those less fortunate and, of course, our special …