When you hear the term “asset protection,” lawsuits will probably come to your mind. Without question, there are litigious types out there, and you can take steps to shield your assets from litigants seeking redress. However, there is another form of asset protection that flies under the radar, and it is important for just about everyone. In this blog post, we will provide some eye-opening information about the need for this type of asset protection for senior citizens. Nursing Home … [Read more...] about Asset Protection Comes in Different Forms
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Are You Thinking About Creating a Trust?
There are numerous different specific types of trusts that are used in the field of estate planning. You have the opportunity to “use the right tool for the right job” as it were, because you have options. From a very general perspective, there are two general classes of trust, and there are different variations that sit under these designations. These two classes would be irrevocable trusts, and revocable trusts. First, let's look at revocable living trusts. Creating a Trust That Is … [Read more...] about Are You Thinking About Creating a Trust?
Many Wartime Veterans Are Returning to Los Angeles
Many people from Los Angeles have served our country in the military. There are no words to describe the debt of gratitude that we owe to these brave men and women. Wartime veterans go through a lot, and many people who have served in the military are returning back home to Los Angeles. Though there is no way to fully repay the former service members for their sacrifices, there are some benefits that can be of great assistance. Most people are aware of the military retirement pension. If … [Read more...] about Many Wartime Veterans Are Returning to Los Angeles
Discuss Your Options With a Probate Lawyer
If you discuss your estate planning options with a probate lawyer, you may come to the conclusion that you would like to implement probate avoidance strategies. Why would you want to avoid probate? Let's look at the answers to this question. Estate Administration You may assume that you should use a last will to transfer assets to your loved ones because your situation is not that complicated. In the will, you name an executor or personal representative. This is the individual who handles the … [Read more...] about Discuss Your Options With a Probate Lawyer
What Is the Role of a Los Angeles Probate Lawyer?
If you want to plan your estate in an informed manner, you should certainly understand the probate process. A Los Angeles probate lawyer can provide you with the information that you need. Let's look at the facts. Los Angeles Probate Lawyer Picture a fictional scene that takes place after someone dies. There is a home gathering after the funeral, and people are somberly milling about. One by one certain individuals are called into a study. Someone is sitting at the desk, and the attendees are … [Read more...] about What Is the Role of a Los Angeles Probate Lawyer?
Preserve Benefit Eligibility With a Special Needs Trust
A special needs trust can be useful if you want to provide for someone that you love who has a disability. We will look at the facts in this blog post. Supplemental Security Income People with disabilities oftentimes rely on the Supplemental Security Income program. This program provides income for people with special needs who are not in a position to earn much on their own. To qualify, you must be able to prove that you have significant financial need, and you could lose eligibility if your … [Read more...] about Preserve Benefit Eligibility With a Special Needs Trust
Retirement Planning: Look Beyond the Active Years
As elder law attorneys, we specialize in retirement planning issues. In this post, we will look at some of the issues that retirement planning attorneys routinely address. Long-Term Care When you are planning ahead for the eventualities of aging, you should certainly understand some facts about long-term care. This is the type of care that you would receive in a nursing home or assisted living community. If you work during your life and pay taxes, you will qualify for Medicare when you … [Read more...] about Retirement Planning: Look Beyond the Active Years
A Look at Inheritance Planning and Tax-Free Gifting
There is a federal estate tax to contend with if you have been particularly successful throughout your life. During 2016, the amount of the federal estate tax exclusion is $5.45 million. You can arrange for the transfer of assets equaling as much as $5.45 million before the estate tax would kick in. The new amount for 2017 is $5.49 million. The maximum rate of the federal estate tax is 40 percent. When you hear the above you may have an idea: why not just give gifts while you are living … [Read more...] about A Look at Inheritance Planning and Tax-Free Gifting
Elder Abuse Awareness Is on the Rise
There are an unprecedented number of people attaining senior citizen status at the present time in the United States. This is because of the fact that the baby boomer generation is getting older. To understand the dynamic, consider the state of Social Security applications. The Social Security Administration is accepting approximately 10,000 applications for Social Security benefits each and every day. This volume is expected to continue into the foreseeable future. If you are among the … [Read more...] about Elder Abuse Awareness Is on the Rise
Disability Planning Can Prevent Future Problems
When you know you are going to qualify for Medicare when you reach the age of 65, the Medi-Cal program may be off your radar. Medicare and Medi-Cal are both health insurance programs, right? Why would you need Medi-Cal if you are going to qualify for Medicare? It is true that Medicare and Medi-Cal are both government run health insurance programs. If you qualify for Medicare, you won't need Medi-Cal at first. Plus, you probably wouldn't be eligible, because Medi-Cal is only available to … [Read more...] about Disability Planning Can Prevent Future Problems
