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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.

3 Ways to Qualify for Medi-Cal by Spending Down | Encino Elder Attorney

Qualifying for Medi-Cal benefits can be difficult if applicants own too many assets because Medi-Cal is a needs-based program. Additionally, there is often a look back period on any asset transfers that could disqualify applicants from receiving benefits. However, there are ways to reduce assets through a qualified spend down to ensure you receive Medi-Cal benefits, typically in the form of purchases. These purchases should be made with the guidance of an experienced Encino elder law attorney to make sure they will not serve as means for disqualification.

3 State Benefits Available for Children with Special Needs

Children with Special Health Care Needs, as defined by the Social Security Act, are eligible to receive a number of government benefits to pay for their care, services, and medical aid. There are many ways a child can qualify as a Child with Special Health Care Needs (CSHCN), though it usually comes down to suffering from certain conditions, such as Down’s Syndrome, ADHD, cerebral palsy, and autism. The following is a list of the benefits that are available to children with special needs in California.

When a Trust Isn’t an Option: Planning for Your Loved One with Special Needs

Special needs trusts are great tools for families that want to protect assets and give their loved one with special needs an enhanced quality of life. The truth is, however, that special needs trusts are not always the best solution. This is due to factors based on the family’s individual situation, the costs involved with a special needs trust, and the duties and responsibilities of the trustee. In cases where a special needs trust will not fit your family’s situation, there are alternatives that can still achieve your goals for special needs planning.

Encino Will and Trust Lawyer: Family Feuds Are Funny On TV – But Not So Much in Real Life

Nearly every week we receive calls from family members who are upset about a deceased loved one’s estate. Unlike in TV shows, real-life family feuds are no fun. Disputes over who gets your property after your death can drag on for years and deplete your entire estate.

Encino Business Lawyer: Deduct Expenses from Your Retirement Business

Many people begin a second career in their retirement years by starting a new business. A retirement business allows you to stay busy and work as little or as much as you’d like while making some extra money to complement your retirement. However, you want to make sure that your …

Encino Elder Lawyer: What Happens If My Older Loved One Still Wants to Drive?

Do you have an older loved one who still insists on getting behind the wheel? You are not alone. As the Baby Boomer generation ages, there are concerns about a large population of elderly drivers on the road.

Encino Trust Lawyer Answers, “How Should I Divide My Estate When One Child Has Special Needs?”

There are many issues that come up when planning for a loved one with special needs, including how much property or how many assets should be left behind in a Special Needs Trust for his or her benefit. This issue can be especially tricky if you’d also like to leave an inheritance to other family members. There is no black and white answer to this question – it all depends on your family’s unique situation and what goals you’d like to achieve when planning for your loved one with special needs.