Administration of a decedent’s estate may involve investment accounts (with stocks and bonds) held in the decedent’s name or trust. The investment accounts may be at a bank or a brokerage. A person administering a probate (i.e., a personal representative) or trust estate (i.e., a successor trustee) will want to (1) obtain information regarding […]
posted on: December 23, 2021
Read MoreA Valid Will Without a valid will a person’s estate passes to their surviving heirs under intestate succession (i.e., “succession without a will”). A valid will can determine who inherits assets in a decedent’s estate, who is the executor of the estate, what powers the executor has over the estate, and more (or less). […]
posted on: December 8, 2021
Read MoreA Trustee has a so-called “fiduciary” duty — i.e., a duty that involves legal responsibility and accountability to the trust beneficiary — to manage the assets of a trust strictly according to the terms of the trust for the sole benefit of the beneficiaries. A Trustee cannot favor the interests of one beneficiary over another […]
posted on: November 25, 2021
Read MoreAnyone receiving community based Medi-Cal or long term (skilled nursing) Medi-Cal is familiar with the stringent, longstanding non-exempt asset (“resource”) limitations for eligibility (i.e., $2,000 in available, countable non-exempt assets for a single individual). Two recent developments affect present day and future Medi-Cal eligibility planning for persons either already receiving or applying for Medi-Cal. First, […]
posted on: November 11, 2021
Read MoreHealth care decisions include whether to approve or to disapprove diagnostic tests, surgical procedures, and medication, and other forms of health care. Patients make their own health care decisions if they both can understand the nature and consequences of a health care decision – including understanding the significant benefits, risks and alternatives — and can […]
posted on: October 28, 2021
Read MoreIn California, what options does a person married to a spouse who suffers from cognitive impairment have to get the couple’s affairs in order, e.g., to establish and fund a trust? Let us discuss. Let us consider a married person with diminished capacity – e.g., unable to have an involved estate planning discussion or unable […]
posted on: October 13, 2021
Read MoreIn 2021, California significantly increased the protection under the “homestead exemption” and the “homestead declaration”. Until 2021, the amount of the homestead exemption (protection) varied from $75,000 to $175,000 depending on circumstances. Now, the exemption amount varies between $300,000 and $600,000, adjusted annually for inflation, based on the countywide median sale price for a single-family […]
posted on: September 30, 2021
Read MoreDecedents typically die owing a variety of unpaid debts. Probate acts as a legal clearinghouse for a decedent’s unsecured creditors to file claims demanding payment of a monetary liability (debt) owed them by the decedent. In California, creditor claims are required to be filed regardless of whether the liability was due, accrued, contingent, or reduced […]
posted on: September 9, 2021
Read MoreA residence can be held in further trust for the benefit of one or multiple beneficiaries after the owner’s death. In California, a trust can hold title to real property either for up to ninety years or for a period that ends no later than 21 years after the death of an individual who […]
posted on: August 26, 2021
Read MoreA person who is authorized to act in a representative capacity is a fiduciary and must follow certain fiduciary (legal) duties. Application of the duties vary with the legal authority granted and the situation. Agents, conservators, trustees, personal representatives, and even spouses (in relationship to their spouse) are all fiduciaries. Let us discuss how […]
posted on: August 14, 2021
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