The recent implementation of California SB 833 and the reform of Medi-Cal estate recovery will have a significant impact on estate planning for many Californians. The new law essentially limits the ability of Medi-Cal to pursue the estate of a deceased patient in order to recover costs of their treatment. ...
How Does New Medi-Cal Legislation Change Your Estate Plan?
Governor Jerry Brown recently signed new Medi-Cal legislation SB 833 into law, and it will take effect for those who pass away after January 1, 2017. The new Medi-Cal legislation reduces the State's ability to go after the assets of deceased Californians who required "specific medical assistance" including permanent nursing...
Why Put Off Estate Planning and Establishing a Trust?
Why do so many San Diegans put off estate planning and establishing a trust for their home and assets? Quite simply, in my experience its as simple as they don't want to face the reality of their own mortality. Unfortunately, the failure to undertake estate planning leaves a complicated and...
Trust Disputes in San Diego Require a Seasoned Attorney
Trust disputes in San Diego require a seasoned attorney with expertise not only in California trust law, but accounting and tax expertise as well. The attorneys at Allen Barron, led by Janathan Allen are uniquely positioned to provide insight into your concerns, and provide a comprehensive financial, legal and tax...
Why do You Need a Trust in San Diego?
Why do you need a trust in San Diego and how can it save you a substantial amount of money? A trust provides protection for your assets, investments and accounts and provides an additional layer of separation between an individual and any creditor seeking to collect against a liability or...
Prince’s Lack of a Will Highlights the Value of a Trust
The death of the artist Prince was a shock to many of us. What surprised me as a trust, estate and tax attorney is his complete abdication of planning his estate, especially when you consider the energy and effort he expended to protect his music and the rights to it....
FATCA Rules May Make a US Trust Taxable as a Foreign Trust
Is it possible that a trust established under the laws of a US State such as California, with a US agent serving as its trustee could be forced to file taxes as a foreign trust? Yes, Under the Foreign Account Tax Compliance Act or FATCA rules and federal law if...
What is a Disclaimer Trust and Should We Consider it to Replace Our Existing Trust?
What is a disclaimer trust and should you consider replacing older trusts with a disclaimer trust? There has been a lot of conversation (and misinformation) on this topic, and it is important for our clients to understand the advantages and disadvantages of each option available to them as they plan...