When a person is no longer capable of handling his or her personal and financial affairs it becomes necessary for someone else to assume those responsibilities. By preparing legally binding documents designating one person to act on anothers behalf it is possible to avoid a court supervised conservatorship of the incapacitated person and their estate. Attorney Judd Matsunaga of Elder Law Services of California can assist the Trustees and Agents with their duties to ensure that their work is performed in accordance with applicable California state laws and federal laws.
If you or your family members are concerned about qualifying for or being disqualified for California Med-Cal then you should call attorney Judd Matsunaga at Elder Law California for a free consultation regarding Medi-Cal Planning. Judd can be reached at 1-800 403-6078.
Almost 25% of California’s senior citizens are covered by Medi-Cal, which is California’s version of Medicaid. Medi-Cal provides many of the state’s economically disadvantaged seniors with essential health insurance coverage, including coverage for some medical services which are not covered at all by Medicare. Medi-Cal also provides a safety net for senior citizens who may require long-term care who have exhausted their own financial resources.
The leading costs for participants are prescription drugs and long-term care or nursing home care ( both of which are generally not covered under Medicare) and inpatient hospital care. The growing population of California’s elderly is increasing the demand for long-term care. With California’s budget problems and rising health care costs legislators are facing difficult decisions which will impact the level of health care available to senior citizens.
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Judd Matsunaga, founding partner of Elder Law Services of California is a member of the State Bar of California, the Los Angeles County Bar Association, the National Academy of Elder Law Attorneys, California Advocates for Nursing Home Reform, California Association of Realtors, Beverly Hills Greater Los Angeles Board or Realtors, National Notary Association, Southern California Golf Association, and the Better Business Bureau.
Through the use of Living Trusts, Wills, Powers of Attorney, Living Wills, Irrevocable Trusts, Family Limited Partnerships, and Charitable Gifting Strategies, Elder Law Services of California helps families preserve their wealth for future generations, minimize estate taxes, and avoid the expense and headaches of probate.
When it comes to estate planning, one of the most common concerns is how to properly manage estate taxes. Elder Law Services of California will help you plan for inheritance and all tax issues related to inheritance. Elder Law Services of California will make sure you have a plan that protects you and your family for years to come. Depending your your needs, we may use a combination of the following estate planning tools to define your estate plan:
Wills: A simple will may be enough to protect your interests and provide for your family. We will let you know what a will can do for you.
* Trusts: There are a variety of trust options available for individuals and families, including revocable living trusts, irrevocable trusts, special needs trusts for the benefit of any disabled person, trusts for the benefit of children, and trusts for the benefit of pets.
* Financial Power of Attorney: By establishing a power of attorney, you can put your assets, finances, and even health care decisions in the hands of someone you trust.
* Advance Health Care Directive: You may reach a time when you are not in a position to make a decision regarding your own health care. By establishing a health care directive, you can make sure your best wishes are honored.
* Asset Protection: There are a variety of asset protection options beyond traditional wills and trusts. We can help you explore the possibility of incorporation or LLC and LLP formation for estate planning.
* Guardianships and Conservatorships: We help families obtain guardianships and conservatorships for loved ones who are no longer able to care for themselves and their property or make sound legal decisions.
* Durable Power Of Attorney: You may request that we draft a durable power of attorney which is awritten legal document that lets you esignate another person to act on your behalf, even in the event that you become disabled or incapacitated.
Probate
Probate is a legal process for settling an estate in accordance with the will of the deceased. Assets owned and registered in the individual name of the deceased that do not already have a beneficiary—including cash, investments, personal property, and real estate—make up what’s called the “probate estate.” These assets are controlled by the will and “pass through” the probate process in order for ownership to be transferred. All other assets “pass outside” the probate process.
Size of Estate
The manner in which estates are settled varies from state to state, but options also vary according to the estate’s overall value. A large estate generally involves having the state’s probate court validate the will or certify that the deceased died intestate which means ‘without a will’.
Settling a large estate also involves fulfilling other administrative matters, called “probating the estate.” Sometimes smaller estates can be settled through a more informal means of administration.
Elder Law Services devoted to handling our clients’ advanced estate planning needs. If you have questions regarding the planning of your estate, or if you are about to start planning your estate, it is in your best interest to speak with a qualified attorney.
Call the estate planning attorneys at Elder Law Services of California today at (800) 403-6078 or send an e-mail to info@ elderlawcalifornia.com , and we will contact you to set up a free, initial consultation.
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More Facts You Need to Know about Probate
Very few people are successful in navigating these highly structured requirements by themselves. During this time of adjustment, you can gain peace of mind with the help of a compassionate attorney, who gives his personal attention to your case and treats you with sensitivity and dignity.
Call Elder Law Services of California toll free at 1-800-403-6078 for more information about our probate services.
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