Los Angeles living trusts are a particularly useful estate planning tool you should consider including in your estate plan. Before you make that decision, though, there are a few misunderstandings about these tools you should be aware of. Three of the most common misconceptions are (1) you must relinquish all control of your property, (2) they can help you avoid estate taxes, and (3) they are the only estate planning tool you will need. This article will discuss all of these issues. You Do … [Read more...] about Common Misconceptions Regarding Los Angeles Living Trusts
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What Are 529 Plans and What Are Their Advantages?
What are 529 plans? Can they be held in trusts? Read on to learn more about these plans and why to consider them. What Are 529 Plans and What Are Their Advantages? … [Read more...] about What Are 529 Plans and What Are Their Advantages?
Los Angeles Seniors May be Eligible for Tax Filing Services
It’s tax season and the chore of filing taxes is upon us. If you are a senior in Los Angeles and you have limited income, there may be some useful tax filing services available to you. The AARP Tax Aide Foundation-South Bay provides free tax filing services to low-income seniors. If you have questions about estate planning, elder law services, and retirement issues, let our Los Angeles elder law attorneys help. Where to Find Tax Filing Services in the Los Angeles Area Volunteers who have been … [Read more...] about Los Angeles Seniors May be Eligible for Tax Filing Services
What is Medi-Cal Fraud and How Can You Avoid It?
Unfortunately, Medicaid fraud and abuse is a reality. It costs billions every year in diverted funds that could have been used for valid health care services. Because of this fraud and abuse, the cost of Medi-Cal coverage has increased needlessly. Another problem is the risk of harm to patients who are unknowingly exposed to unnecessary medical procedures for the benefit of fraudulent doctors. Your Long Beach Medi-Cal planning attorneys can help you avoid fraud on your part. What is Considered … [Read more...] about What is Medi-Cal Fraud and How Can You Avoid It?
What Happens to Your Retirement Account When You Die?
Part of estate planning is making sure that, after your death, your loved ones know how to handle your affairs. That means knowing where to find your various assets and the important documents needed to handle your estate. A common question clients have is what happens to their retirement account after their death? Maintain Records of Your Retirement Accounts In order for your survivors to file claims for the outstanding benefits from your retirement accounts upon your death, they will need to … [Read more...] about What Happens to Your Retirement Account When You Die?
Asset Protection Trusts Aren’t the Only Strategy Available
When it comes to estate planning, asset protection must not be overlooked, no matter the nature of your estate. Having the ability to protect your assets from creditors and other sources of liability can be very beneficial not only throughout your life but after your death, as well. Asset protection strategies are important for preserving as much of your estate as you can for your heirs can only be accomplished if you properly protect your assets. Let our attorneys discuss options in addition … [Read more...] about Asset Protection Trusts Aren’t the Only Strategy Available
Are Beneficiaries Entitled to a Copy of the Will?
If you are expecting the traditional “reading of a will” that you see on tv or in the movies, that is rarely how it works. In fact, there is no legal requirement that a will be read aloud to anyone. But, you may be wondering whether beneficiaries are entitled to a copy of the will. It is the personal representative (executor) who determines who will receive a copy of the will or be notified of its contents. Once the will is filed with the probate court, then it becomes public record and anyone … [Read more...] about Are Beneficiaries Entitled to a Copy of the Will?
What is a Pet Trust and Why Would I Need One?
Many pet owners are under the impression that they can name their pet in their will like any other beneficiary and provide some money for them to be cared for. That is not the case. Pets are considered property under the law, so they cannot “inherit” money from you, as some people assume. This means that, even with a detailed provision in your will for your pet, you may not be securing your pet’s future as well as you might think. If you want to guarantee that your family friend will be … [Read more...] about What is a Pet Trust and Why Would I Need One?
What Are the Most Important Things I Need to Know About Estate Planning?
One of the primary reasons clients seek out estate planning is the desire to preserve their estates for their loved ones. Without an estate plan, your family might be left with many unwanted consequences, including hefty tax burdens and other costs. More importantly, if you want to make decisions regarding your estate yourself, instead of leaving those decisions to a probate judge, then you want to have an estate plan. Let our Los Angeles estate planning lawyers help you get started by … [Read more...] about What Are the Most Important Things I Need to Know About Estate Planning?
What is an Asset Protection Trust?
Regardless of the size of your estate or the amount of your assets, protecting your wealth is always a concern. This means being able to protect your assets from creditors or other types of liability. There are different asset protection strategies available for those who want to protect as much of their estate as they can for their families. An asset protection trust is one great strategy for you to consider. When Should an Asset Protection Trust be Created? If you are wondering when to … [Read more...] about What is an Asset Protection Trust?
