There are so many different types of trusts that you can create, understanding the differences between them can be a challenge. Take, for example, Medi-Cal Trusts and so-called Family Wealth Trusts. A Medi-Cal Trust is a special type of trust basically used to shelter your assets in order to preserve your eligibility for Medi-Cal benefits. By using a Medi-Cal Trust, you can receive income from the trust up to a certain amount, without jeopardizing your Medi-Cal eligibility. On the other … [Read more...] about Family Wealth Trusts and Medi-Cal Trusts
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The Benefits of the Supreme Court Decision on Gay Marriage
Being legally married makes estate planning easier because of the automatic eligibility for most benefits that married couples enjoy. The LGBTQ community and other supporters of gay marriage are certainly pleased with the United States Supreme Court’s landmark ruling in Obergefell v. Hodges, which many feel has been a long time coming. As a result of this decision, millions of Americans are now eligible for legal rights they were previously unable to enjoy. Now, there are privileges and rights … [Read more...] about The Benefits of the Supreme Court Decision on Gay Marriage
Are verbal wills valid in California?
The short answer is: no. A will is a legal document, which lists down how a person called a “testator” would like his assets to be distributed after his death. A will also mentions the name of the executor of the will. If a person dies without leaving behind a valid will or intestate then his estate and all his assets have to be probated. Just having something scribbled on a piece of paper does not amount to a valid will. The state of California, through Probate Code sections 6110-6113 … [Read more...] about Are verbal wills valid in California?
Administration of Missing Person’s Estate
It is a traumatic experience to have someone close to you go missing. Not only is the mental trauma of not being to locate the person strenuous, but the financial aspect also begins to take its toll. The requirement to fulfill the needs of the absentee’s family and creditors and also to manage and protect the property has led to the enactment of legislature in many states including California. For the immediate needs of maintenance and protection of property, a trustee can be appointed for a … [Read more...] about Administration of Missing Person’s Estate
LA Probate Law: Are You at Risk for Inheritance Scams
LA Probate Law: Are You at Risk for Inheritance Scams The great fantasy everyone wants to come true: You receive an email from a lawyer, barrister or bank employee stating a long-lost relative you've never heard of has died. The email goes on to say that after an exhaustive search, you are the only known living heir to your long-lost relative's fortune. Congratulations, you're a MILLIONAIRE! But first, you need to pay the international transfer fee, a bank holding fee or cover some legal … [Read more...] about LA Probate Law: Are You at Risk for Inheritance Scams
Even When Done Correctly, Managing Finances During Incompetency Can be Challenging
Another article illustrates the problems allegedly faced when a son, David, went to access his father’s IRA accounts to pay for his father’s 24 hour care. According to David, he was required to make nine trips to Bank of America before bank officials allowed David to access his father’s IRA accounts to pay for his care. Some of the delays encountered by David included the bank’s demand to see the original document, the bank refusing to allow David to act alone because he was named as a … [Read more...] about Even When Done Correctly, Managing Finances During Incompetency Can be Challenging
LA Probate Law Recovering Stolen Assets
LA Probate Law Recovering Stolen Assets Assets must normally be recovered through a civil lawsuit or action. In some instances, the probate court has expedited procedures that allow asset recovery for the victims of elder abuse. If the victim is not able to protect himself, the probate court is empowered to appoint a conservator to pursue asset recovery. Interested parties such as heirs and beneficiaries are also entitled to seek court intervention. LA Probate Law has substantial experience … [Read more...] about LA Probate Law Recovering Stolen Assets
LA Probate Law: All About Wills
LA Probate Law: All About Wills There are many ways you can create a will, including paying an online service to create the document or hiring a competent legal professional to draft one. However, you have to remember that in order for your will to be valid, it must meet certain rules as outlined earlier in this tutorial. If you have a small estate, you may be able to do this on your own, but because estate planning can be complicated, especially with second marriages, young children or … [Read more...] about LA Probate Law: All About Wills
LA Probate Law Explains Probate Law
LA Probate Law Explains Probate Law After a person dies, ownership (the legal title) of his or her property, assets and personal effects must be passed on (legally transferred) to the beneficiaries (heirs) listed in the Will. If there is no Will, the persons receiving assets are designated by State law. "Probate" is the legal name given to this process say LA Probate Law. The Will must be verified as the valid, final dispositive statement of the decedent (the official record of the deceased … [Read more...] about LA Probate Law Explains Probate Law
LA Probate Law What You Can Do with Bureaucracy Hold Up
LA Probate Law What You Can Do with Bureaucracy Hold Up The post-death administration process rarely moves as quickly as the survivors would like. We are experienced with all aspects of the administration process and know how to focus the process to reach your goal as quickly as possible. You should ask a LA Probate Law attorney you are considering what experience he has in probate. Talk to friends, relatives, business associates, or someone you believe has been an executor to find whether they … [Read more...] about LA Probate Law What You Can Do with Bureaucracy Hold Up
