Tehachapi's Online Community News & Entertainment Guide
Tehachapi's Online Community News & Entertainment Guide
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Another major benefit for creating a living trust in California has to do with public benefits. For example, if a person on public benefits becomes incapacitated or injured in a car accident, they may have to live in a skilled nursing home that can nowadays cost $6,000/month for the entire time the person is alive. MediCal will pick up the cost if the person in a skilled nursing home has less than $2,000 cash. If they have a large amount of cash then MediCal is not going to pay anything until...
After the effective date of the law, its implementation requires the following list of governmental restrictions: A. It limits estate recovery to long-term care services for costs, such as nursing homes. B. California will no longer recover for basic health care services. C. It limits recovery to probate estates, meaning living trusts will not be subject to recovery. It also means that if you are using a Last Will and Testament as the centerpiece of your Estate Plan, then your house and other...
A Trust can save you hundreds of thousands of dollars by avoiding MediCal benefit "charge back" or recovery against your home for benefits paid to skilled nursing homes. It's not uncommon to pay $5,000/month in a nursing home. If the resident doesn't have much cash, even if they have a house, MediCal (public benefit program) will pay that rent for them for as long as they live. Before 2017...law offices used to prepare documents they called "House Trusts" to help clients legally avoid MediCal...
