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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.

Managing Elderly Parents’ Finances in Los Angeles County

Managing money and finances is difficult at any age, but senior citizens in Los Angeles County are especially vulnerable to financial problems brought on by an inability to adequately care for their own affairs. If this happens, seniors may find themselves with their utilities shut off, unable to make mortgage …

San Fernando Valley Elder Law Attorney Answers: “Who is Responsible for a Parent’s Nursing Home Costs?”

Like residents in more than half of the states in the U.S., California citizens are subject to filial responsibility laws. This means that adult children are financially responsible to pay for costs relating to their elderly parents’ care, including nursing home and other long-term care costs. But, like many legal …

Encino Estate Planning Lawyer: What Your Will Doesn’t Do

When most people think of estate planning documents, the first thing that usually comes to mind is a Will, or Last Will and Testament. However, like many estate planning components, Wills don’t always do exactly what people think they’ll do. In Encino, Wills are used to direct where all solely …

How to Avoid Power of Attorney Scams in Encino

Everyone has heard of the financial scams that target vulnerable seniors, even right here in Encino. Seniors are a common target for these scams because they often suffer from cognitive impairments that reduce their ability to discern legitimate requests from those that are not. One common situation is when a …

San Fernando Valley Wills and Trusts Lawyer: What You CAN’T Do with a Last Will and Testament

A Last Will and Testament is a great estate planning tool, but there are certain things it won’t accomplish. San Fernando will and trust attorney Gerald L. Kane explains what these things are and why you need them.

Encino Elder Lawyer: Top 5 Ways to Enjoy Your Retirement

Many types of clients come into my elder law office, and most of them are at one point or another in their journey through retirement. The following are the top 5 ways I’ve seen seniors make the most out of their retirement in California, and what you can do now …

Encino Special Needs Lawyer: The Basics of a Medi-Cal Special Needs Trust

Special needs lawyers in Encino always look for the most effective ways to protect their clients’ assets, while at the same time ensuring that they get the level of care needed in order to live fulfilling lives. One of the ways Encino special needs lawyers do this is through the …

Encino Will and Trust Lawyer: Estate Planning Later in Life

As an Encino will and trust lawyer, I’ve actually spoken to many elderly people who believe that, for one reason or another, it’s just too late to start estate planning or asset protection planning. Maybe they think they will never make it through look back periods for benefits in some …