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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.

All About The Family

The holidays are here! This time of year is supposed to be about celebrating life, love, and family. It’s a time when we should really reflect on how blessed most of us are, and it’s an opportunity for us to show and share our love to the people who mean …

What Does The VA Know That You May Not…

This is truly introductory information for a wealth of resources we are preparing to bring those of you who may qualify for little known VA benefits. The VA may not be guilty of purposely withholding information from it’s qualifying Veterans, but it does bear to be a fact that if …

Happy Thanksgiving & Thank You, Veterans!

This has been a very busy few weeks for us all. Karen and I spent some time in Florida learning about helping clients eligible or who soon will be eligible for Medi-Cal. Preserving and protecting assets for the elderly is an important part of planning that, the sooner it’s handled, …

What An Estate Planning Attorney Does (aka “Some Things I Did This Month”)

1. Help two different clients get ready to sell a home through probate due to their family or friends who didn’t have a plan in place. Reviewed contracts, title searches, and met with brokers. 2. Work with at least half a dozen families to deal with assets after a loved …

“Have A Good Year!”

Rosh HaShanah begins tomorrow night at sunset. If you celebrate Rosh HaShanah, then, “L’Shanah Tovah,” (“May you have a good year!”) Last week, we had our first teleseminar/webinar in over a year, and there were so many people online, that we are going to do this again regularly. We want …

Wealthy or Not: You Need a Will

A will is a legal instrument that tells the world who you want to get your assets. Move on to the after-life without a will in place, and a judge will decide who gets what, without regard to your wishes and without regard to the needs of your loved ones. …

Can I Exclude Someone From Being An Heir to My Estate?

I want to disinherit a family member. Will that be easy to do? Many states have varying laws concerning spouses and children, so check with me to see specifically what is possible for these relationships you may want to exclude from your will. Ex-spouses have no claim to your assets …

The Joy of Life

The Joy of Life Many of my articles are about planning for death. They focus on making sure that your affairs are in order so that you can enjoy peace of mind. They focus on taking advantage of the element of control, while you have it. No matter how well …