How To Protect And Preserve Your Assets

You and your family have worked hard for your success. It is important to make sure your surviving family members and future generations enjoy the benefits of your success after your death.

The Mullin Law Firm in Concord and Walnut Creek, California, can show you legal options and estate planning instruments to help protect you from:

  • Probate court actions
  • Estate taxes
  • Contested trust litigation and will disputes
  • Excessive and unnecessary medical treatment
  • Theft or fraudulent distribution from an elderly person's financial estate

At the Mullin Law Firm, we help individuals and families in every stage of life plan for the future. We offer a consultation to review your financial circumstances and your risk for losing your assets to unnecessary probate actions.

Elder Law and Medi-Cal Planning for the Long-Term Care Benefit

One of the most important estate preservation strategies for seniors is to make sure you qualify for the Medi-Cal Long-Term Care benefit. This benefit provides payment to a skilled nursing facility for those who are eligible. We can discuss with you the legal and ethical ways to ensure eligibility for this benefit for yourself or loved ones. Additionally, we can provide guidance to legally avoid the imposition of an Estate Recovery Lien. In any of these areas, advance planning is key. We also represent heirs in legal actions filed by the Department of Health Care Services in an effort to collect on Estate Recovery Liens.

Trusts

Establishing a living trust is one of the most important legal tools you have for specifying exactly how your assets are to be distributed after your death or managed during your lifetime should you lose the capacity to do this for yourself. When you use your assets to fund a trust, you effectively remove the assets from your estate and place the trust under the control of a trustee. The trustee is legally bound to distribute the assets only in accordance with your specific criteria. Trusts may be set up as revocable or irrevocable. There is a full range of options available, including:

  • Special Needs Trusts: Assets are distributed on a regular basis to provide for the care and welfare of a loved one with special needs while not interfering with their eligibility for government benefits.
  • Educational trusts: Assets may be distributed only to meet specific educational goals such as a college education.
  • Charitable trusts: Assets may be distributed regularly to a favorite nonprofit organization or may be held in trust for the charitable organization, pending your death.
  • Qualified personal residence trusts: A QPRT allows you and/or your surviving spouse to continue to live in your home until death, at which time the house becomes the property of the trust, with the assets distributed according to your wishes.

Estate Asset Preservation Lawyer

Call us toll free at 866-477-0304 or contact us by e-mail to arrange a consultation with one of our experienced Concord asset protection attorneys today.