Walnut Creek Elder Law Blog

Unlike many other States, probate in California is fairly complicated. If the estate is simple and no federal estate tax is due, the final order can theoretically be obtained within 9 months of the filing of the petition. The more likely scenario is that it can take 12 to 15 months to complete the probate process. Probate can be avoided, for instance, with the use of trusts and pay on death designations on various assets. Please see my Elder Law Today newsletter on this topic at http://www.walnutcreekelderlaw.com/Newsletters/AvoidingProbate.html.

Examples of assets subject to probate would be those in the decedent’s name alone, a tenant in common interest in real property, and the one-half interest in a spousal community property asset. The threshold amount to trigger a full probate is $100,000. The will is lodged with the court, the court appoints an executor or administrator, and ultimately the court will decide who the beneficiaries are and what they will receive from the estate, after taxes, costs and other items are paid. Both the executor or administrator, and the attorney are entitled to a probate fee, which is an amount determined by the California Probate Code. Family disputes are also settled in probate court. For additional information on this and other topics, please see my website at http://www.walnutcreekelderlaw.com/. Thank you, Michael J. Young, Attorney at Law.

The practice of elder law is a fairly new field within estate planning. I have been in practice for over 30 years, and in private practice for over 20. As a Baby Boomer,  my estate planning practice has evolved over the years into an elder law/estate planning practice. My parents are both gone now, but as they grew older, I adapted to their needs regarding not only regular estate planning, but asset preservation, and what I call “Life Care Plannning.”   Many of my clients are now Baby Boomers who come to see me about their parents’ long term care plans, public benefits planning, etc. We also discuss the Baby Boomers’ long term care plans, as we Baby Boomers are entering our 60′s. Yikes!

Traditional estate planning involves estate tax issues, avoiding probate and distribution of assets upon death. Elder Law involves these issues, but is focused also on preserving assets and options, as we live longer lives. Asset preservation, disability planning and care planning are part of the picture. One of the goals is to preserve our assets for ourselves and our families, from the high cost of nursing home care. Government benefits planning, including Medi-Cal and VA planning, and applications for these government benefits, is part of the practice of elder law. When looking for an elder law attorney, inquire as to whether the attorney’s  practice is dedicated to these areas of the law.

You may visit my web site at http://www.walnutcreekelderlaw.com/   for further information. Also, you can check out one of my newsletters on this topic at:   http://www.walnutcreekelderlaw.com/Newsletters/GiftToParentsOfBabyBoomers.html  Thank you, Michael J. Young, Attorney at Law

It is a good idea to review revocable living trusts and the related estate planning documents, to be sure they have the updated elder law language for asset protection and public benefits planning. The daughter of an elderly woman came to see me, to help get the mother qualified for Medi-Cal, and to protect the mother’s home from a Medi-Cal lien. The mother had lost her mental capacity, so we could not update the language in the trust to transfer the home to the children and reserve a life estate to the mother.  As a result, we had to go to court to obtain an order to change the language in the trust. The court process is cumbersome, takes time, but can be avoided with properly drafted estate planning documenbts. You can view my Elder Law Today newsletters on this area and others, such as:   http://walnutcreekelderlaw.com/Newsletters/RealPropertyMedi-CalQualification.html

Thank you,

Michael J. Young