Horizon Elder Law & Estate Planning Blog

The advantages of remote work and increased wealth have offered many Californians the opportunity to maintain multiple residences across different states.

While this may seem like an enviable luxury, it carries with it the complications of distinguishing between one’s residences and one’s domicile. Why is this important? And what does domicile mean in California?

Many individuals attempt to escape high California taxation by establishing permanent residency in a different, low-tax state. Unfortunately, as Read more . . .

Living in an especially litigious culture, Californians are increasingly concerned about asset vulnerability to legal judgments and creditors.

Many have been advised that placing assets in a trust protects their wealth. While in some contexts that is true, the general notion of forming a trust in California to shelter assets from creditors is a false pretense.

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As we watch our loved ones age, it’s not uncommon to see them struggle with their memory. Given the frightening prospect of Alzheimer's, this may incite worry in many.

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The sudden death or incapacitation of a loved one can be overwhelming. It can also create a financial crisis for the family. Without a comprehensive estate plan, a spouse may be unable to access accounts and funds the family needs to pay bills and living expenses. There could be confusion about who has the authority to make crucial decisions. The crisis can be avoided by working with a Read more . . .

No one wants to contemplate suffering a life-altering accident or illness. However, anyone can face incapacitation or an end-of-life situation. Forethought and advance planning will ensure that your wishes are fulfilled and the burden of life-ending decisions are not unduly placed on your loved ones.

A comprehensive estate plan should include advanced directives that account for incapacity and end of life care. Read more . . .

Affordability of long-term care is a common worry among seniors. Fortunately in California, Medicaid and public benefits are available to help cover costs. However, the rules governing public funds generally require individuals to surrender nearly all personal assets before receiving assistance. For those who have worked hard to build a financial legacy, that can be a hard pill to swallow.

When confronted with the question, “When is it too late to protect assets for Medicaid and public benefits?” Read more . . .

Probate in California is extremely expensive. By categorizing estate assets in California carefully, it can be possible to avoid probate or minimize the assets that have to pass through the courts. A Read more . . .

A DIY movement has swept the nation, with internet tutorials and documents available for almost any need. But when it comes to matters as important as financial and legal affairs, is adopting

a standardized web-based approach the best idea? The convenience and minimal upfront investment of do-it-yourself wills and estate plans are attractive lures. However, using standardized documents to establish a personalized and comprehensive estate plan could be challenging, and may lead to costly problems in the future.

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Transferring assets of a deceased person’s estate do not have to be onerous. California provides a simplified procedure that allows the transfer of estate assets in some situations without having to go to probate court. Also, there are ways that a living person can arrange for specific assets to transfer to their beneficiaries automatically when the current owner dies.

A Read more . . .

Revocable trusts have become an increasingly popular probate-avoidance tool among California residents. Under the umbrella of a revocable trust, assets are protected from passing through a lengthy and costly probate process. However, this only holds for assets retitled in the name of the trust.

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California has historically provided four options for the transfer of real property upon a property owner’s death:

1. joint tenancy agreements
2. community property with right of survivorship
3. wills
4. living trusts

However, in January 2016, the California Legislature passed Assembly Bill 139, allowing a fifth option for the non-probate transfer of property to a designated beneficiary, known as the Revocable Transfer on Death Deed.
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