The wealthy hotel magnate, Leona Helmsley, aka the “Queen of Mean” inherited $5 billion from her husband Harry Helmsley when he died in 1997. Her will stipulated that $12 million be held in a trust fund for her dog (a Maltese named Trouble.)
Author Archives: Walnut Creek Elder Law
In an attempt to help our clients and friends understand probate terms, we have assembled this short probate dictionary, which features helpful probate terms. Beneficiary The beneficiary is the person named in the will who will inherit the assets of the probate estate.
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Feb
Feb
Are Probate Court Records Public In California? In California probates, the public has access to probate court records. Contact the probate court clerk in any county where an attorney filed probate. Request to view the filed documents. For a fee, you can even obtain copies of filed documents from the clerk. Also, the last will […]
Elder Law Attorney Walnut Creek, Probates, Walnut Creek Medi-Cal Qualification
Probate of Your Home: The “Heggstad” Petition
14
Dec
Dec
Transfer your home to a Revocable Living Trust (RLT) for several reasons. First, doing so will prevent probate of your home when you die. Another reason is that, as of January 1, 2017, if you die after collecting Medi-Cal, the state cannot pursue recovery against your home if it is in your RLT. In this […]
02
Dec
Dec
Probate Timeline In California, where Walnut Creek Elder Law is located, probate proceedings typically take about a year to complete. The probate timeline may require even more time, depending on the assets and complexities of the case.
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Aug
Aug
Many young adults believe they are too young to concern themselves with estate planning. While in their 20’s and 30’s they think they don’t own enough assets to constitute an estate. However, an estate is the total of everything you own – money, investments, real estate, vehicles, business interests, digital assets (including cryptocurrency), and other […]
Alzheimer's Disease, elder law, Medi-Cal Qualification, Walnut Creek Elder Law
Happy National Elder Law Month!
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May
May
An obstacle millions of California senior citizens may encounter is the need to qualify for Medi-Cal coverage. Through online resources, video seminars and in-person trainings, we educate clients and friends to navigate the somewhat confusing process of Medi-Cal qualification.
Asset Protection Attorney Walnut Creek, estate planning attorney, Probate Attorney Walnut Creek, Walnut Creek Probate Attorney
What Is A Pour-Over Will?
30
Mar
Mar
The probate court process could take almost a year finalize. But the goal is to obtain a court order. It is called a Pour-Over Will since you would “pour” the asset over into the RLT. The court would distribute the asset would from the trust to the beneficiaries. If the amount of the asset is less than $166,250, we could prepare a “California Small Estate Affidavit.” You would present the affidavit to the bank or financial institution. It authorizes the bank or financial institution to distribute the asset to the person making the affidavit.
estate planning attorney, Estate Planning Attorney Walnut Creek CA
Asset Distribution & Beneficiary Selection
26
Feb
Feb
If your have children are minors, “separate share trusts” can fit into your RLT for each minor child. Make distributions from the separate share trusts to the minor child during his or her lifetime.
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Jan
Jan
With married decedents with a domestic partner, ask this: Did they have children? In such a case, all assets pass to the surviving spouse or domestic partner.