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Avoid Probate, Avoid Medi-cal Recovery
We can prepare your Living Trust

New Law! Medi-Cal Cannot Touch Your Home
California Senator Ed Hernandez says that Medi-Cal recovery forces homeowners who are over age 55 and who need Medi-Cal to choose between their own health care or passing their modest homes to their children.

Under California’s prior law, Medi-Cal will come after the decedent’s assets in a living trust, joint tenancy, tenancy in common, TOD account, POD account and even life estate. However, effective January 1, 2017, Medi-Cal will only be able to come after those assets in a Medi-Cal recipient’s " probate estate". Thus, if a homeowner is using Medi-Cal, then all he or she has to do is: avoid probate.

All homeowners in California should have a living trust to avoid a probate and now with the new Medi-Cal law; it has become even more important for Medi-Cal recipients to have a living trust in order to protect and preserve their homes for their children.

REVOCABLE LIVING TRUST vs. WILL

In general, an estate plan can be implemented either by the use of wills or by the use of a revocable trust. The revocable trust generally avoids probate, and has other advantages and disadvantages, which will be discussed in this Part I. Some important points to note include:

It avoids, or may largely avoid, the probate procedure.
It provides a mechanism for the management of an individual’s affairs in case the individual becomes Incapacitated.
It often requires additional paperwork and accounting.
It provides more privacy for one’s financial affairs at the time of death.

Probate is the court procedure that oversees the transfer of assets in a person’s estate after death. Probate is required if a person has a will (but not a revocable trust) or if a person dies intestate (without a will), or for certain assets not titled in the trust. A properly funded revocable trust avoids probate because the assets that are placed in it are subject to the terms of the trust, and must be distributed after death as the trust directs, not as your will directs.

Protect your loved ones and avoid PROBATE... We can help you prepare your LIVING TRUST!

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