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Trust Administration

New Medi-Cal Estate Recovery Law: Another great reason for a revocable living trust

medications

California’s current Medi-Cal recovery rules are primed for a big change. Governor Jerry Brown has signed into law new provisions limiting reimbursement to the state for Medi-Cal benefits received. On January 1, 2017 these new provisions become effective, and for those of us who die on or after that date the creation of a revocable living trust becomes ever more important. Under current law, the state can make claims on the estate of a deceased person for any Medi-Cal benefits they received at age 55 or older. Liquid assets may have to be surrendered, as well as a residence, as a...

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Is An Attorney Necessary For Trust Administration If Everyone Agrees?

It is common for people to feel that if they have a revocable living trust, they will not need an attorney during trust administration since the trust will tell them everything they need to do with the assets, especially when all of the beneficiaries agree how assets are to be divided.  In my experience, this is rarely true.  Here you will find some of the pitfalls of attempting trust administration without the help of a competent estate tax attorney. Notification Often the successor trustee (person responsible for administering a trust after the death of the trust makers) thinks the trust document will...

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