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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.

Special Needs…Special Planning When the Court is Involved

I am receiving more and more calls asking about protecting a settlement for a plaintiff in a personal injury case that has a disability. The plaintiff has a catastrophic brain injury due to the negligence of the defendant and receives a $3 million award in damages. A structured settlement can …

Getting Divorced? Vital Info Regarding Your Estate Plan

If you’ve already got an estate plan in place and you are going through a divorce, you’ve got some steps to take because no matter how you cut it, divorce has a major impact on your estate plan. I hate to tell you that because I know that the last …

When Real Estate is owned by a parent and child

Last week, I had a client ask me what the best way to vest title when purchasing property with a child. This is an ever recurring question as to what is the best way to hold title between a parent and child. Property is often acquired with a child due …

Ready For A Vacation… Some Day

I must be ready for a vacation… I mean a REAL vacation! I’ve taken my girls to Disneyland a half dozen times in the past couple of months, and I’ve gone to Las Vegas several times, but I must be ready for some rest and relaxation. A friend and I …

DVD Players, Pay Phones, and Blacksmiths

Years ago, I went to my local consumer electronics retailer to purchase a new personal computer that had new technology that I’d heard was so fantastic that I had to have one to see for myself what all the hoopla was about. It introduced something called Microsoft Windows (remember when …

Never Say No To A Good Time

Have you had a chance to see the movie, “Yes Man?” It stars Jim Carey, and he plays a negative man who attends a meeting where he is challenged to say yes to everything. He is inspired to try this tactic for one year. It is a comedy, of course, …

A Magical Birthday

Last week, I got a call from a professional organizer, Sasha Lauren. I’m sure you’ve all heard about people who can come into your home or office and show you how to get things clean and organized and how to keep it that way. Sasha is a little different in …

Hey! Why DIDN’T We Get A Manual?!!!

One of the things I really enjoy about being a Personal Family Lawyer is the networking I get to do and meeting new people whose missions are similar to mine (helping families). If you remember my “corner” from a couple of weeks ago, I told you about my having a …