Estate planning is an important way of making known your wishes for the distribution of your assets after your passing. When creating your estate plan, other existing documents such as a prenuptial agreement, may impact how your assets are distributed and managed....
While you no longer must meet strict income and asset requirements to qualify for Medi-Cal, California’s Medicaid program, you should still consider a proper planning strategy for long-term care. An irrevocable trust can be a valuable tool in helping you achieve this...
When doing business succession planning, business owners are often passing the company down to their adult children. They assume that their children will want to run the business and follow in their footsteps. But is this actually true? It’s very important to talk to...
When people are passing a family business onto the next generation, they often want things to be fair. They’re trying to avoid estate disputes, and they want to treat all of their children the same way. They think that this means making things equal, such as leaving...
Medicaid is a need-based government insurance program. Some funding and regulations come from the federal government, but the programs operate on a state-by-state basis. The California Medicaid program, Medi-Cal, provides health insurance coverage for vulnerable...
There are several benefits to entering into a business partnership. You and your business partner can divide the workload equally as well as share financial obligations. With that being said, running any business, even as partners, can be stressful. Disputes are bound...
Recently, we discussed some potential obstacles to consider when business succession planning involves family. Here, we’ll look at a couple of other issues to consider. Leaving the business to one or more people in the family has its advantages. One benefit is that...
The Benjamin Franklin quote that “nothing is certain except death and taxes” may be going through your head as you realize that, as the executor of the estate of a loved one or friend who passed away last year, you’re required to file their final income tax returns....
California’s Medicaid program, commonly referred to as Medi-Cal, provides essential healthcare coverage for low-income families and individuals. However, applicants must meet the eligibility criteria to qualify for this program. The look-back period is a crucial...
Business succession planning is a lot like estate planning. The two are related in that you can address both issues at the same time and under the guidance of the same representative. Many business owners try to create a succession plan alone or delegate the task to...