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…
In California, owning assets in a revocable trust enables your family to avoid probate, a court process used to transfer assets to beneficiaries of a will or the decedent’s heirs. One of the main reasons to create a trust is to avoid probate. Unfortunately, more often than we would like, when we assist clients with trust administration after the death…
The Aged and Disabled Medi-Cal program pays for long-term care in a skilled nursing facility and care at home through In Home Support Services (IHSS). In order to qualify for this type of Medi-Cal, you must meet an income test, or have a share of cost if your income is too high, and you are limited in the amount of…
When a family member passes away, family dynamics are often drastically changed. Even more so when other family members are living in the decedent’s family home, which can occur in a few different ways; thus, pre-planning with a right of occupancy spelled out in your trust can avoid any ambiguities and clarify who owns the property after death and who…
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…
This seems like a simple question, right? My retirement goes to the person I listed as my beneficiary (spouse, kids, etc.). Most of the time this is true, yet we also get a fair share of people having to file a probate for an IRA or having to request the court to allow someone to set up a special needs…