MEDI-CAL PLANNING

MEDI-CAL PLANNING

There is a significant drawback to keeping or purchasing a home as an exempt asset. If a Medi-Cal recipient owns a home during the time Medi-Cal is received and the home is in the Medi-Cal recipient's name at his death, then the California Department of Health Services (DHS) will likely make a claim for reimbursement at the Med-Cal recipient's death. The claim may be satisfied using the proceeds from the sale of the home. Alternatively, the claim in some cases may be converted to a lien against the home

Therefore, an exempt asset home is often removed from a Medi-Cal recipient's name either before or after the individual begins receiving Medi-Cal. A home may be transferred to someone else without incurring a transfer penalty so long as the home is exempt at the time of transfer.

However, new regulations concerning transfers are coming soon which may change our ability to transfer the home to anyone without consequences.

Please call us at (818) 714-1789 to schedule an appointment to safely transfer your home to your beneficiaries to avoid transfer penalties.

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Estate planning is about love for your family and keeping the peace after you are gone. It is also about protecting your assets, avoiding probate and reducing or eliminating estate taxes for your loved ones—which a properly drafted living trust can do. We draft a complete customized estate plan because we know every family is different and their needs are different—no one size fits all trusts! Every adult must have a Will, Healthcare Power of Attorney and Durable Power of Attorney, whether or not they have any assets, to avoid Conservatorship. Conservatorships can become very expensive and frustrating. Read about Conservatorship below.

​PROBATE: If a person with substantial assets dies without a Trust their estate goes through the Probate court before the assets are distributed to the beneficiaries (named in their Will or as per the state laws if there is no Will). The probate process and the mechanisms that transfer property from you to your appointed heirs upon your death, are challenging, intricate, and require attention. Let our professional experience serve you in restoring your piece of mind and protecting your family's assets by avoiding Probate or by helping your loved with the process.

INSURANCE ISSUES: Shekhar is licensed lawyer and licensed to sell Insurance to his clients. He is an Independent agent. His background in law and insurance puts him in an unique position to advice you with you legal and insurance claims and questions. Contact him directly at [email protected] for your insurance disputes and questions.

MEDI-CAL TRUSTS: For Medi-Cal Trusts, pre planning is the key because there is a look back period. Medi-Cal Trusts help you to be eligible for the State's Medi-Cal benefits but avoid the State liens on your assets so you can leave your assets to your loved ones lien free. It is a good idea for the children to have their elderly parents have a Medi-Cal trust to save their inheritance.

SPECIAL NEEDS TRUSTS: As a parent of a child with special needs, it pays to protect your child in the event of your death. A well-planned Special Needs Trust (SNT) enables your child to cover his/her immediate needs in the event something unexpected happens to you. Special Needs Trusts are designed to supplement, not replace, the kind of basic support provided by government programs like Medical and Supplemental Security Income (SSI). Special Needs Trusts pay for comforts and luxuries -- "special needs" -- that could not be paid for by public assistance funds. Do not rely on a family member to take care of special needs beneficiary without a SNT. Majority of SNT litigations involve a family member abusing their powers and neglecting the SN beneficiary.

BUSINESS: Starting a Business? Corporation or LLC? Which one is a better choice? Buying a Business? Need a Buy-Sell agreement? Starting a Non-Profit organization? Want to create a Charitable Trust? Need a Contract or want to get one reviewed or have a contract dispute? Have a Contract dispute? We can help!

If you weren't here... Who would care for your child? Appoint a Guardian Today! You want the best for your children, even if you're not there. Don't leave your child's guardianship to chance. Let SNC Law Offices help you create an estate plan that gives your child the future and protection they deserve. If the parents are deceased and you need help to appoint yourself as the guardians of minors, we can help. Please contact us.

BUSINESS: Starting a Business? Corporation or LLC? Which one is a better choice? Buying a Business? Need a Buy-Sell agreement? Starting a Non-Profit organization? Want to create a Charitable Trust? Need a Contract or want to get one reviewed or have a contract dispute? Have a Contract dispute? We can help!

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