You might have put some of your best years into building your company, but if you do not create a written business succession plan, your company may close down before its time. Just because you have capable people working at the business, that does not mean that they want to or are able to take […]
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How to Administer a Trust in California
Many people are interested in creating a living trust in California to avoid probate and to enjoy many of the other advantages that a living trust provides. But not everyone understands how to administer a trust in California after the death of the trust’s initial creator, often called the settlor. There are many rules you need to […]
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Five Hidden Traps in Outdated Living Trusts
If your living trust is five or 10 years old or more, it might look fine on its face. But there may be problems hiding within your estate plan that will rear their ugly heads when it is time to put your trust document into action. The time to fix these issues is now, before […]
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Investing in Cryptocurrency: The Hot Tax and Estate Planning Issues
Investing in cryptocurrency is a trend that appeals to many because banks and governments cannot directly control this asset, and there is a limited level of privacy involved in its ownership and financial transactions that use crypto. The Internal Revenue Service (IRS), however, takes taxation issues of crypto quite seriously. Also, there are things you […]
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Under What Conditions Do You Recommend a Revocable Living Trust?
In California, anyone who owns a home or other substantial assets may benefit from executing a living trust. From tax advantages to avoiding unnecessary court proceedings to providing a safety net during your lifetime to addressing specific needs in your family, a living trust might be the right estate planning paper for you. A California […]
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What Happens if You Don’t File a Probate in California?
If a friend or loved one dies with only a will, or with no estate plan at all, you may be required to file a probate petition before you can take control or possession of that person’s assets. Failing to do so, and taking or distributing the assets without the proper procedures, may lead to penalties […]
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Are Special Needs Trusts Always Appropriate?
When planning for a person with special needs, you have more than one option. In some situations, a special needs trust might be a good choice, but in some other circumstances, you might have a better option. Special needs trusts are sophisticated legal documents that must comply with multiple rules. If you make a mistake, […]
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Is it Possible to Probate a COPY of a Will Without the ORIGINAL in California?
One of the frustrating aspects of handling a close relative’s estate after they die is trying to find all of the essential financial and legal documents. You might find the deceased person’s will, but it might be quite old, making you wonder if it was revoked and replaced by a later will or trust. Sometimes, […]
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What is Palliative Care? Planning for Future Medical Needs
Palliative care is often referred to as pain management or comfort care and is an option that many people choose as part of their end-of-life care plan. Hospice and palliative care are similar, but not the same. Hospice care is typically provided at or near the end of a patient’s life. However, a patient may […]
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Determining The Medicaid and Medi-Cal Snapshot Date — How Does Medicaid Do It?
The Medicaid “snapshot” date applies to married couples when only one spouse applies for Medicaid assistance with the cost of long-term care. Medicaid (also known as “Medi-Cal” in the State of California) calculates the assets of the married couple as of the snapshot date to determine eligibility for Medicaid benefits. This article explores the concept […]
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