The Power to “De-Fund” the Trust: In some cases, the best strategy might be to pull assets out of your own trust and move them elsewhere. A standard trust is designed to hold assets, not give them away. Your trustee needs the specific power to do this for asset protection purposes.
Author Archives: Walnut Creek Elder Law
17
Oct
Oct
Why You Should Appoint a Co-Trustee Before Memory Fails Dear Clients and Friends, We often realize in hindsight the precise moment when a small issue became a serious problem. We say that “Hindsight is 20/20.” This statement holds exceptional truth when we look back at the beginning of dementia. It also comes into play with […]
22
Sep
Sep
While a trust avoids the formal probate creditor process, trustees still need to address legitimate debts. An attorney can advise on how to properly handle creditor notices and claims, protecting trust assets from invalid or excessive demands.
Medi-Cal attorney, Medi-Cal Attorney Walnut Creek, Medi-Cal Attorney Walnut Creek CA, Medi-Cal Qualification
Medi-Cal Changes Starting January 1, 2026
12
Sep
Sep
For a period, Medi-Cal for long-term care did not have an asset limit, a welcome change that provided peace of mind for many Californians. However, that era is ending. The state is reinstating its asset test, which means the amount of your savings and property will again determine your eligibility for this critical benefit.
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Aug
Aug
Beyond financial strategy, an estate plan provides the necessary legal framework for care decisions. A Durable Power of Attorney for Finances allows a trusted family member to manage financial affairs when a person can no longer do so. An Advance Healthcare Directive appoints a healthcare agent who can make medical decisions on their behalf, ensuring their wishes are honored. Without these documents, a family may be forced to seek a costly and time-consuming court conservatorship.
07
Aug
Aug
Many individuals with special needs rely on government benefits like Supplemental Security Income (SSI) and Medi-Cal. These programs have strict income and asset limits. If your loved one receives an inheritance, it could immediately push them over these limits. The result? They lose their essential benefits. The money you intended to help them now forces them to “spend down” their inheritance just to requalify. It’s a heartbreaking and entirely avoidable situation. This is precisely the problem a Special Needs Trust solves.
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Jul
Jul
I’m Michael J. Young, an estate and long-term care planning attorney, and I witness this struggle far too often. My mission involves helping families navigate the complexities of estate planning, ensuring they protect their assets and their loved ones from unnecessary legal battles and financial drains. Today, I want to share crucial insights about one of the most common and easily avoidable pitfalls: probate for your home.
09
Jul
Jul
This potential change aligns with rules in many other states. It raises a valid concern: individuals might need to “spend down” their personal savings to qualify for necessary skilled nursing facility care. This possibility highlights the value of proactive estate planning specifically for long-term care qualification.
estate planning attorney, Estate Planning in California, Probates, walnut creek
Seamless Estate: Where There’s a Will
30
May
May
When your trust is properly funded, assets are titled in the name of the trust. That means your home, for example, would be titled as “John and Jane Smith, Trustees of the Smith Family Trust.” At your death, the successor trustee follows your written instructions without needing court approval.
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May
May
Please do not delay. If you or a loved one has recently received an early diagnosis of Alzheimer’s disease, I urge you to reach out and schedule a conversation with me or another qualified estate planning attorney immediately. Time is of the essence. Let’s discuss your specific situation, your concerns, and your wishes, taking into account your potential future medical needs and the evolving treatment landscape.