Sirkin Law Trust Estate Probate Litigation Attorney

Life Stages and Life Changes that Affect Your Estate Plan: Estate Planning in Los Angeles

Life stages and life changes affect your estate plan and your family's inheritance.  When there are changes in a person's life, a preexisting estate plan needs to be reviewed in light of the changes.

It is wise to have your will, trust and power of attorney reviewed when some or all of these changes have occurred:

a.  You went through a divorce.

b.  Your spouse is ill.

c.  You are ill or have a diagnosis of a chronic disease.

d.  You are about to end a business relationship, or partnership.

e.  You are thinking of retiring and need to find a successor to your business.

f.   You have a child or a grandchild who is disabled, or on Medi-Cal or has a serious medical condition.

g.  You have a child who spends too much, or has a drug or alcohol problem.

There are many other changes which require a visit to your estate planning attorney.   A review can save your estate from unintended consequences.   Call us for an effective and efficient review, if you have life a life stage change, or something in your life has changed.   Don't think that your old estate plan is enough.   Just as you review your health, you should review your estate plan.

Mina Sirkin is an expert in estate planning and estate litigation in Los Angeles County, California. With our legal offices in Woodland Hills, Glendale, and West L.A., we can help you determine what is best for your circumstances.  818.340.4479 or Email:  [email protected]

Mina N. Sirkin

Probate Specialist Attorney

Los Angeles & Woodland Hills California

Learn about Life Stages and Changes that Affect Your Estate Plan, and in Planning your Estate.

Protecting Inheritances & Asset Protection for Parents | Sirkin Law Group | Glendale CA

Sirkin Law Group | 818.340.4479 | Glendale Ca

To succewssfully protect your parents and your inheritance in Los Angeles County, our attorneys use a number of protective devices and legal strategies.   There are three main procedures for asset protection for parents, and preservation of children's inheritance, starting with least protective to most protective as follows:

1.      LEVEL ONE PROTECTION(LEAST BURDENSOME AND LEAST EXPENSIVE): 

• Durable Power of Attorney for Asset Management:   This is a document that is put in place when a parent is well and is capable of understanding the consequences signing a document.   By signing this document,  parents can give an adult child or children, the ability to bank, make financial decisions, pay expenses and take other actions given as powers stated in the document.    

Why is it least restrictive?   A Power of Attorney does not prevent the parent from exercising the same rights and the powers given to the child (agent).

2.      LEVEL TWO PROTECTION  (MORE PROTECTIVE / MEDIUM EXPENSE):

• Asset Protection Trusts:   Asset protection trusts are irrevocable trusts which are set up while the parents are well.   The parent essentially becomes a beneficiary of the trust, and a child becomes the trustee of the trust.   This tool is very effective to protect the parents, and the inheritance of their children from falling into the hands of caregivers or, greedy neighbors and friends.    it is required that the parent have capacity to execute when we prepare this type of document and plan.

        In this strategy, the parent gives up management powers, but not the right to receive benefits.  This strategy requires that parents and children, or a neutral trustee to cooperate in financial care for the parents,    There are two types of irrevocable trusts which are used for this particular purpose.  One is trust which protects the parent's assets from Medi-Cal.   The other type of trust is none which protects the parent's assets from hands of creditors.   Each have different requirements and should be evaluated separately by a specialist attorney.   Inheritances can be saved and protected when the trust is irrevocable and there are safeguards in how the assets are used during the life of the parent. 

3.        LEVEL THREE PROTECTION (MOST PROTECTIVE BUT MOST COSTLY)

• Conservatorship of the Estate of the Parent:   This is a court proceeding which children can initiate for the parent in several situations:​
  •  The power of attorney is not in place, or
  • There are multiple power of attorney documents, some of which may be disputed or contested by family members, or
  • Someone has made your parents sign documents and your parents do not remember what document they signed;
  • No capacity is required here. Parent can have dementia, Alzheimers or other diseases, or may otherwise be unable to protect themselves;
  • Someone has attempted to steal the assets of the elderly parent, or 
  • Someone has actually stolen the assets of the elderly parent; or
  • Parent will not cooperate with children to allow children to manage his/ her accounts and assets.
  • This proceeding can be used in conjunction with an Elder Abuse action on behalf of the parent against anyone against whom there are asset recovery rights.
  • We can fix estate planning documents, or create new ones with a court order under this category of protection.

What are the steps in preparing to protect your parents, and your inheritance? 

1. Contact us a t 818.340.4479 for a free consultation appointment for asset protection strategies for parents.
2. Get permission in advance from your parent and bring a list of your parent's assets with you.​

WHY HIRE US?

Mina Sirkin is a nationally recognized trust and probate attorney and has served as a media expert to CNN, MSNBC, Inside Edition, NPR and KTLA regarding probate and estate matters.  Ms. Sirkin is Certified as a Specialist lawyer by the Board of Legal Specialization of the State Bar of California, in Probate, Estate Planning and Trust Law.  Mina Sirkin is rated 10/10 on Avvo.  

Sirkin Law Group's lawyers are located in Los Angeles, Woodland Hills, Glendale and Pasadena. Probate Attorney Los Angeles  Call: 818.340.4479.  Asset Protection for Parents.

Attorneys for Families with Alzheimers Dementia CA | Conservatorship | Los Angeles Attorney & Lawyer

Attorneys for Families with Alzheimers Dementia | Los Angeles Attorney | Sirkin Law Group  Wills Trusts Estates | 818.340.4479 | Glendale Pasadena Woodland Hills| Conservatorship

When preparing families with Alzheimer's Dementia, we focus on implementing goals and small steps to protect the person with dementia.   Our attorney in Pasadena and Glendale has over 22 years of experience putting a protective plan together for families like yours.  Attorneys at Sirkin Law Group have a philosophy of preventative legal care.    We do not just manage alzheimer's dementia, we legally prepare for it.

How do you prepare for a person with dementia or alzheimer's disease?

1.  Ask whether any of your parents or other family members have had dementia, Alzheimers or Parkinson's disease ?   

2.   Unfocus from the disease itself and focus on small goals.

3.   If any member of your family has had dementia, Alzheimer's or Parkinson's disease, then you must put in place a series of legal documents to protect yourself and your family.

4.   The legal documents we recommend to our clients with a family history of dementia is as follows:

A.   A Living Trust

B.   A Will

C.   Durable Power of Attorney for Asset Management.

D.   Advanced Health care Directive OR a Durable Power of Attorney for Health Care and Hipaa authorizations.

E.   A complete inventory of assets updated yearly.  

F.   A legal transfer document allowing transfers of appropriate assets to the trust.

If you have a family member who has already been diagnosed with dementia, it is not too late to put together protective documents, if a physician can certify the capacity of the person with dementia.

Even when a person loses mental capacity, it is still not too late, even if no legal documents are in already in place, because we can still prepare for dementia, with a Conservatorship proceeding, with a substituted judgment petition and a court order.  Yes, we can even prepare wills and trusts after capacity is lost, with a court order.

Mina Sirkin is a dementia attorney, Certified Specialist Attorney in Probate, Estate Planning, and Trust Law in California helping families in Glendale and Pasadena Ca.   With over 22 years of experience, we can advise you on how to legally prepare for dementia step-by-step.   Los Angeles Conservatorship Attorney and to Dementia & Elder Law Attorneys Los Angeles.  Call us at 818.340.4479 0r 800.300.9977 in Los Angeles and Glendale.  

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