How many of the country’s wealthiest families are second and third generation millionaires or billionaires? According to some reports, two-thirds are first generation, only 20% are second generation, and less than 10% are third generation. What does this mean? It seems that most wealthy families have not quite mastered the art of preserving their wealth for generations to come. However, even those with more modest wealth can benefit from useful strategies to make their fortune go further. … [Read more...] about Preserving Your Wealth for Generations
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How to Find Medicaid Services in Long Beach
If you are a resident of Long Beach and you are looking for Medicaid services, let our Long Beach Medicaid attorneys help. The Medi-Cal Outreach and Health Access Program is available to help you choose from all of the health care options available to you. The Long Beach Department of Health and Human Services provides enrollment assistance. The Long Beach Department of Health and Human Services The Department is located at 2525 Grand Avenue, Suite 210 and it is open Monday - Friday, 8:00 a.m. … [Read more...] about How to Find Medicaid Services in Long Beach
When Do You Need a Special Needs Trust?
Trusts are very useful estate planning tools that provide a way to save money and other property for a chosen beneficiary. As our estate planning lawyers can explain, certain trusts have a particular purpose such as providing future support for a loved one with special needs. Your chosen trustee will hold and manage the property, making that person responsible for seeing that the terms of the trust are fulfilled. Defining "Special Needs" “Special needs” is a broad term that includes … [Read more...] about When Do You Need a Special Needs Trust?
Irrevocable Trusts: What Are They and Why Do I Need One?
Irrevocable trusts are very useful estate planning devices that are often used for long-term management of assets. There are various types of irrevocable trusts that can be used for different purposes in estate planning. When you transfer assets to your trust, they are permanently removed from your estate and the transfer of ownership to the trust cannot be revoked. Our Los Angeles estate planning attorneys can explain everything you need to know about irrevocable trusts. The many benefits of … [Read more...] about Irrevocable Trusts: What Are They and Why Do I Need One?
Can I Appeal a Probate Litigation Case?
In California, as in other states, parties to a civil lawsuit who are not successful have the option of appealing the decision. Decisions that are appealed will be reviewed by the appropriate California appellate court. The same is true for litigants in a probate matter who are unsuccessful. In civil appellate court, only certain individuals have “standing” to bring the appeal. That typically means the parties who were involved in the original civil litigation. Probate litigation could be the … [Read more...] about Can I Appeal a Probate Litigation Case?
Using a Life Estate to Protect Your Home from Medicaid Liens
As our Los Angeles Medicaid attorneys understand, estate recovery and Medicaid liens are a common concern for many clients. It is important for clients to understand their right to protect their homes from loss. Regardless of whether you actually need Medicaid to cover nursing home or residential care, avoiding estate recovery and protecting your residence is an important part of Medicaid planning. Strategies for asset protection One Medicaid planning technique that our Los Angeles Medicaid … [Read more...] about Using a Life Estate to Protect Your Home from Medicaid Liens
The Basics of Pet Planning California
Pet owners should not overlook the need to include pet planning in their overall estate plan. If you pass away without a pet plan, the consequences are not good. Unfortunately, you cannot simply name a beneficiary for your pet. Instead, more specific plans need to be made to ensure that the caregiver will be legally bound by the terms you set, and the financial support needed to care for your pet will be secure. If you are wondering, what should a pet plan include, let our trust attorneys … [Read more...] about The Basics of Pet Planning California
Tips for Planning Ahead to Avoid Probate Litigation
When a family member or beneficiary disagrees with how estate property is being distributed, the likely result is probate litigation. That means someone who has an interest in the estate brings their disagreement to the court to resolve. However, if you take certain steps now you may be able to avoid many of the common disputes through proper estate planning. If you find yourself in the middle of a will contest and need legal assistance, one of our Los Angeles probate litigation attorneys can … [Read more...] about Tips for Planning Ahead to Avoid Probate Litigation
The Importance of El Segundo Small Business Planning
Owning and operating any type of business comes with certain risks, including exposure to legal and financial liabilities. However, not every business owners recognize ever risk, legal or financial, to which they are exposed. Every legally binding agreement that you enter into has specific consequences that should be considered carefully. With appropriate El Segundo small business planning, you can reduce and possibly eliminate financial and legal risks. El Segundo strategies for promoting … [Read more...] about The Importance of El Segundo Small Business Planning
Would You Prefer a Charitable Deduction This Year?
Perhaps you would prefer to take a charitable deduction this year. Maybe you have higher income this year, or the reduced ability to take a deduction next year. A donor advised fund may make sense for you. A donor advised fund allows a deduction this year, even though distributions will be made to public charities in future years. Read on to learn more about a donor advised fund. Would You Prefer a Charitable Deduction This Year? … [Read more...] about Would You Prefer a Charitable Deduction This Year?
