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Dynamic New Trust Protections for California Residents with Living Trusts in 2017!

March 23, 2017Uncategorized

Big Changes in Medi-Cal!

As of January 2017, there is great news for people who may find themselves in need of Medi-Cal. The laws regarding recovery against estates for benefits paid to a Medi-Cal recipient have been changed.

Before January 1, 2017, the Medi-Cal program was able to recover money that was spent on medical services for people who were 55 years of age or older. If the family was unable to repay the state after the passing of the Medi-Cal recipient, a lien was placed on their home.

Fortunately, California passed a new Recovery Reform on January 1, 2017 which stops claims from being placed on people’s home, despite having received Medi-Cal. The home, however, can only be protected from Medi-Cal Recovery if it is protected under a LIVING TRUST.

What is Medi-Cal?

Medi-Cal is simply the name used for Medicaid in the state of California. Medi-Cal is provided as assistance for low income and/or low resource people. However, the not often discussed, dirty little secret is that middle class people often quickly and unexpectedly enter the ranks of those qualified to receive Medi-Cal when they need in-home or nursing home care.

The State of California has recovered over $1 Billion from Medi-Cal recipient’s Estates, Real Property, Bank and Retirement Accounts. This is known as “Medi-Cal Recovery.”

Avoiding Probate and Medi-Cal Recovery

Probate is necessary any time assets are left in a deceased person’s name after their passing. If a person receiving Medi-Cal places their home into a Living Trust, prior to their death, the home can not be claimed by Medi-Cal for repayment. This also means there will not be a Probate because the property is owned by the Living Trust and is no longer in the person’s name.

Living Trusts allow people to protect personal items, cash accounts and most importantly, their homes from Probate. It is important to have a qualified Estate Planning Attorney to prepare your Living Trust in order to make sure your Properties can not be claimed by Medi-Cal at the time of your death. Failure to do so means the state can make a claim against your home for the amount of the Medi-Cal benefits paid or the value of the estate, whichever is less.

Taking Action: What You Need to Do Now

Take advantage of the Medi-Cal Recovery Reform…ACT NOW! Whether a person is receiving Medi-Cal benefits, have received them in the past, or if they could receive Medi-Cal benefits in the future, Seniors must be proactive in protecting their assets for themselves and their family. It is imperative that they now place all of their assets into a properly drawn trust. It is the ONLY way to ensure that their family will be protected from Medi-Cal Recovery and Probate at the time of their death.

 

Attorney Caprice L. Collins and the Collins Law Group

Caprice L. Collins, Founder of the Collins Law Group is a top-rated Harvard Law School trained Attorney with thirty-eight (38) years of experience focusing on Living Trusts, Wills, Business Planning, Trust Administration and related areas for individuals and their families.

The Collins Law Group is devoted exclusively to estate planning. We are members of the American Academy of Estate Planning Attorneys. We offer comprehensive and personalized estate planning consultations. For more information or attend an upcoming seminar, please contact us at (310) 677-9787 or visit us online at www.collinslawgroup.com.

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Caprice Collins

Caprice Collins

Attorney Caprice L. Collins is a top rated Harvard Law School graduate. She has 34 years of legal experience with a successful law practice devoted exclusively to Estate/Business Planning and Trust Administration. Attorney Collins is a well-respected keynote speaker on Wills, Living Trusts, Estate Planning, Business Planning and Trust Administration. She has appeared on California’s Real Estate Radio Station KTLK AM 1150 as a legal expert on Estate Planning and Living Trusts among many other notable media appearances.
Caprice Collins

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Testimonials

Ms. Collins and her team has earned my trusts and respect. They showed professionalism, attention to details and made me feel like I am family. It is truly reassuring to know that my family and I won’t he on our own after the documents are executed.

Saida H.–
My overall experience with Collins Law Firm has been great. The process of estate planning was thoroughly explained with personal care and concern. The entire staff is very personable and eliminate any intimidation. I feel very relieved to have completed this process and I am very comfortable in knowing that Collins Law Group is available to us for any needed help.

Mattie S.–
We received excellent and clearly explained directions with respect to the creation of our living trust and the required follow up actions. Caprice is easy to work with and she inspires full confidence in her abilities. We continue to work with her as we review changes in our lives and the adjustments required to insure that our trust does what we want it to do.

John C.–
Attorney Collins was referred to us by a friend who had a living trust prepared for his family. We attended one of her very informative seminars on living trusts. Shortly there after we had out trust done.  She is very thorough, precise and follows up to ensure we’re satisfied with our estate plan. The staff was wonderful as well.

Tony B.–
We’ve had Living Trusts done by two different attorneys over the last 12 years. After retaining the Collins Law Group, it became clear that the others weren’t up to the same standard. Attorney Collins and her staff have an eye for detail that was absent from the other firms we used. It was the difference between dining at a gourmet restaurant, and a fast food drive-thru. The Collins Law Group is terrific at putting you at ease, and makes the process relatable and easy-to-understand. After watching other family members go through the ugly, hot mess of Probate, we definitely feel safe and in control of our estate and the legacy we’ll leave behind for our children.

Mr. & Mrs. Owens–

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Email: clcfirm@aol.com

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