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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.

What’s YOUR Magic Wand?

Time is always a premium these days, it seems. Everybody that I talk to seems to never have enough hours in the day! And I’m included in that bunch! When is a good time to buy Christmas gifts? When is a good time to make resolutions and celebrate the passing …

Elephant in the Room!

In case any of you have wondered… no, marriage to me has not “mellowed” Karen’s penchant for fun, wild and crazy, and unusual adventures. Sunday, we had a blast during a photo shoot… with an African elephant! One of Karen’s friends is writing a book, full of photography of exotic …

When Tragedy Hits Close To Home…

On May 2, I was presented the sad news that one of my assistant’s mother, a widow for many years, has passed away. B. is grief stricken, of course, but there are a few circumstances surrounding her mother’s death that are especially hard on her and her siblings. On that …

Can Someone Contest My Legally Named Guardians for My Kids?

When it comes right down to it, anyone can challenge just about anything legally, and the ultimate decision lies with the judge who is supposed to be an impartial representative for the best interests of your children. To good news is that, while someone may contest your named guardians and …

Flying High This Summer!

It’s been a fun summer, and I hope you and your family are also enjoying this wonderful time of year. Karen and I had quite an experience recently at an adventure tour where we “swung through the trees” like Tarzan and Jane! Well, maybe not exactly like them, but check …

Can I Name Separate Guardians For My Children?

Absolutely. The easiest part is setting it up legally (naming guardians). The toughest part – and the biggest hindrance to parents to get it done – is WHO to name. If you are divorced and have children from a previous marriage plus have children together – or any number of …

Estate Planning is more than who gets what at death

Estate planning is about much more than just deciding who gets what in the event of your death. It’s also about avoiding unnecessary taxes, and in the event that you have minor children, making sure that custody of your children doesn’t go to the state.

Three Reasons for Having a Living Trust

There are a multitude of reasons to have a living trust. We can’t begin to cover them all, but we will touch on three reasons very briefly here. Reason #1: Protecting Property for Certain Beneficiaries When most of us think about estate planning, we think about passing our property to …