Effective January 1, 2022, California Probate Code Sections 15800 and 16069 are amended by Assembly Bill 1079. The law changes affect trustees who assume their role when the settlor or trustor (the trust’s creator) becomes incapacitated. Typically, the person or persons who create a revocable living trust hold power to revoke the trust. However, when a person dies, their revocable…
Big Three from Episode #067: If you’re including any type of real estate in your estate plan, it’s vital to discuss with your attorney and understand how Prop 19 can impact you and your loved ones. Make sure your children are included in the discussion and planning process. Do not panic. There are workarounds and ways to protect your assets…
The California Department of Health Care Services recently announced new Medi-Cal resource numbers for 2021. In All County Welfare Directors Letter (ACWDL) 20-27 the Community Spouse Resource Allowance (CSRA) was increased to $130,380 and the Minimum Monthly Maintenance Needs Allowance (MMMNA) was increased to $3,260 for 2021. The CSRA is the amount of non-exempt assets that the spouse of a Medi-Cal applicant…