The population of the state of California is growing, and this phenomenon is very eye-catching when you apply it to senior citizens. According to the California state government, the Los Angeles senior population is exploding. By 2020, the elder population should be 50 percent more than it was in 1990 according to government research. Since so many people are reaching retirement age, questions are being asked about Medicare and Medi-Cal. Let's look at some very important information that can … [Read more...] about Government Projects Growth of Los Angeles Elder Population
Blog
Is a Probate Lawyer Always Necessary?
You may assume that assets are immediately transferred to your heirs after you die if you use a last will to state your final wishes. Many people are under this impression, because a last will can seem like a very simple, straightforward document. If you speak with a probate lawyer, you may come away with a different understanding. Probate can be briefly defined as the legal process of estate administration. The heirs that are named in the last will may not be the only interested parties. There … [Read more...] about Is a Probate Lawyer Always Necessary?
Prepare Yourself With a Durable Power of Attorney
Things like wills and trusts are naturally going to come to mind when you think about estate planning. Transferring assets is certainly part of the process, but you should also think about the latter portion of your life and the potential for conservatorship proceedings. To prepare in advance, you could execute a legally binding document called a durable power of attorney. Before we look at the details that surround a power of attorney, we should explain some things about incapacity so that you … [Read more...] about Prepare Yourself With a Durable Power of Attorney
The Federal Estate Tax: Take Steps to Reduce Your Exposure
The federal estate tax is a looming threat for people who have been able to accumulate significant wealth. If you are exposed to the estate tax, a qualified personal residence trust could help you gain estate tax efficiency. Before we provide an explanation, we should look at the federal transfer tax parameters so that you can determine the extent of your liability. Federal Estate Tax There is a federal estate tax credit or exclusion. This is the amount that you can transfer to others … [Read more...] about The Federal Estate Tax: Take Steps to Reduce Your Exposure
An Elder Law Attorney Can Help Preserve Your Legacy
Planning ahead for retirement and the eventualities of aging involves gaining an understanding of government programs that are in place to assist senior citizens. An elder law attorney can provide you with the information that you need to go forward in a fully informed manner. Health care is obviously very important to elder Americans. Medi-Cal and Medicare are the government health insurance programs that are relevant to many seniors here in the greater Los Angeles area, and a lot of people … [Read more...] about An Elder Law Attorney Can Help Preserve Your Legacy
Address Trust Administration at Point Zero
Before we explain the value of planning ahead with trust administration in mind, we should provide some background information so that you understand why you may want to use a trust when you are planning your estate. There are numerous different types of trusts used in the field of estate planning, and they provide varied advantages. Let's look at the facts. Estate Tax Efficiency The federal estate tax is a very big factor for people who have been able to accumulate a great deal of wealth. … [Read more...] about Address Trust Administration at Point Zero
The Revocable Living Trust: Versatile, Efficient and Effective
You should gain an understanding of the estate administration process when you are devising your estate plan. There are certain tasks that must be completed to bring your final wishes to fruition, so there is a human element that is an important part of the equation. If you are like most people, you want your heirs to receive their inheritances in a timely manner after you are gone. Though a last will can seem like the simplest and most efficient asset transfer device to utilize, there is a … [Read more...] about The Revocable Living Trust: Versatile, Efficient and Effective
SoCal Alzheimer’s Association Chapter Provides Local Resources
Alzheimer's disease is an extremely big factor within the elder law community. This disease strikes a very significant percentage of elders, and it is actually the sixth leading cause of death in the United States. If you have a loved one who is aging, or if you are looking ahead toward your elder years in your own right, you may want to explore the resources that are offered by the the Southern California Chapter of the Alzheimer's Association. These people do excellent work, and you can … [Read more...] about SoCal Alzheimer’s Association Chapter Provides Local Resources
A Living Trust Attorney Can Provide Answers
People often have misconceptions about living trusts. When you speak with a living trust attorney, you can come away with a clear picture. In this post, we will share some basic information a living trust attorney would provide for a typical client, with an emphasis on asset protection. Protecting Resources A revocable living trust is a very versatile and useful estate planning tool. Contrary to popular belief, you don't have to be enormously wealthy to benefit from a revocable living … [Read more...] about A Living Trust Attorney Can Provide Answers
A Compelling Conversation With a Living Trust Attorney
If you sit down to discuss your family dynamic, your objectives, and your financial situation with a living trust attorney, you may decide that this type of trust is the ideal estate planning tool for you. To gain an understanding of the value of living trusts, let's look at a hypothetical conversation with a living trust attorney. Client: I have been successful financially, but I'm not a multimillionaire. A last will would be the right choice for someone like me, right? I've always been under … [Read more...] about A Compelling Conversation With a Living Trust Attorney
