Horizon Elder Law & Estate Planning Blog

The last thing that most people want is for their loved ones to get shortchanged because your estate had to pay avoidable expenses or taxes after you died. Every dollar that your estate has to pay in taxes or costs is a dollar that your family will never get.

There are many ways to set up your estate to minimize and sometimes entirely avoid these things that waste the money that you worked a lifetime to earn. A Read more . . .

What will happen to you when you need long-term care? Are you in a financial position to afford the expense?

Very few have enough assets to cover extended nursing home stays, particularly in California, where monthly care costs can easily exceed $10,000.

At that rate, even those with sizable estates should consider all available options, including government benefits, when planning for long-term care.

A proactive approach to programs like Medicare can help you get benefits that will pay for your care. It's a good idea to work with a qualified Read more . . .

Have you made a will or trust only to file it away and promptly forget about it?

If so, you are not alone. While many of us are proactive in initial estate planning, we often fail to revisit our essential documents in the years following.

However,

There are many options in estate planning. Deciding what path to take to secure a future for you and your family can feel overwhelming without help.

This is especially true when considering setting up a trust, and you may quickly find yourself wondering, “What trust is right for my family?”

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.

Read more . . .

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 . . .