Let us talk about a style of asset protection called Anonymity. What is anonymity? Anonymity means I want to become anonymous to the work so that if someone looks up my property, they don’t see Liran Aliav owns this piece of property. What they see is X, Y, Z owns this property.  Anonymity can be in so many ways. The most common style of anonymity is an LLC. You can name your LLC, ABC LLC. Well, that doesn’t say Liran Aliav on the title, so no one could find out just by that document that it’s me. Now, there are.

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A lot of people ask me, “What do I do in order for myself that all my assets to be invisible and no one could find them with no judgment. I could be judgment proof, but I have all these problems. What do I do? How do I get to that point?”  Well, first of all, we’re going to go through some asset protection basics. First off, asset protection is not a fool-proof, 100% way to get yourself out of judgment, especially if a lawsuit has been already filed or it’s currently about to be filed. Usually, that’s not when.

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Why do I need a power of attorney if I have a trust? How do they play together? Well, this is very important. So again, this all starts with a trust.  A trust is a bucket. You fill it up with things. Now if you become incapacitated or go into the hospital and can’t make decisions, the trust turns on and when it turns on the powers of the trust control, another person could come into place and manage those assets. But what happens if those assets are not part of a trust, right?  Let’s say they are left outside.

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We’re talking about whether you need to have a power of attorney in order to do medical planning for another person.  Well, a lot of people call me and say, I have power of attorney and my mom or dad’s in the hospital and they need to get on medical. Can I help them in any way? And I will look at that document and I’ll say, sorry, it doesn’t have the right powers.  You are out of luck! You have to go to the courts, which takes a whole lot of time and a whole lot of money. It’s.

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There are huge problems in transferring assets to your children in order to qualify for Medi-Cal.  Danger #1 – Medi-Cal May Disqualify You Medi-Cal wants to know what transfers you made (as a gift) for the last 30 months!  Each transfer can result in penalties assessed – these are months that you cannot apply to Medi-Cal. And it’s usually irreversible!  If, for example, you transferred X amount of assets, it could result in a 20-month penalty. This penalty means that for 20 months, no matter what situation you are in, Medi-Cal will not pay a dime for your Nursing Home.

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Should you transfer your assets in order to qualify for Medical or Medicaid?  No.  Don’t try this at home without proper advice.  Is there a proper way to do this? Yes.  What happens if you gift assets to qualify for Medi-Cal Long Term Care improperly?  You will get penalized depending on the amount you transferred.  Medi-Cal wants to know what transfers you made (as a gift) for the last 30 months! There is legislation out that wants to increase it to 60 months!  Each transfer can result in penalties assessed.  If, for example, you transferred X amount of assets, it.

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What are the rules in order for us to qualify for medical?  Why do we want to be qualified for medical? Well, if you are on Medi-Cal, the government could cover MOST of your nursing home care costs and fees. And if you’re in an assisted living facility included in the Assisted Living Waiver (ALW) program, then those fees could be covered as well! Well, how do I qualify? Do I have to be poor? The answer is no – a huge misconception! Simply put, Medi-Cal doesn’t count certain assets –- no matter the value! For example, Medi-Cal doesn’t care.

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There are four (4) ways to do it if you don’t have Long Term Care Insurance. Your parent (or you) need to be admitted into a Los Angeles Nursing Home. Assisted Living Facility is not an option anymore because you likely need intensive care. In-Home Care is not an option because it is too expensive. Don’t just opt-in for private pay – do your due diligence! Find out if you can qualify for the below programs (aside from #1).  Here are all of your options:  #1 Use Your Own Money Well you could use your own money. If you’re broke,.

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You have seen these pretty “old school” words on your quitclaim deed to your house in California – “as tenants in common” and “as joint tenants”. What does this mean? Which one is better?  When a group of people shares ownership of a home, each one of those people owns a share of the property. Joint tenancy with right of survivorship and tenants in common are the two most common ways to hold title to your property.   Joint tenancy is similar to tenants in common because they each share the right of possession. This means that anyone listed on the.

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What happens when you are incapacitated in the hospital and your family realizes you don’t have an estate plan?  Well, in this case, a lady named Melinda, who had property in California, was incapacitated and living in a nursing home. She qualified for Medi-Cal, so Medi-Cal paid for the majority of her nursing home expenses.   The family realized that she had no estate planning documents. The only document Melinda signed was a Power of Attorney in favor of her sister. Her sister could make all of her financial decisions for her.  Armed with this Power of Attorney, the sister went.

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