Archive for the ‘Uncategorized’ Category

Orange County Probate Lawyer Reveals Why Planning Should be a Family Affair After Heiress Leaves Millions to Her Dogs

Monday, August 2nd, 2010

From the desk of Darlynn Morgan, Orange County Probate Lawyer

In a bizarre estate battle out of Florida, Brett Carr, the only surviving child of Heiress Gail Posner claims his mother’s staff manipulated her to leave millions of dollars and a lavish mansion to her pet dogs and the people who continue to care for them following her death in March.

Carr on the other hand was only left with $1 Million—a tiny fraction of Posner’s overall estate.

Here’s a snippet of the story from the TODAY show website:

“The bizarre will Posner left behind when she succumbed to cancer at age 67 in March is front and center in a lawsuit Carr filed against the estate, claiming his mother’s staff drugged and brainwashed her into signing over the biggest chunk of her holdings to them and her pets.

‘They saw a frail woman who was vulnerable, who had a delusional ego; she thought she was a movie star,’ Carr told Matt Lauer on TODAY Monday.

Slowly, they got into her world. And they saw, ‘OK, it’s working and it’s growing,’ and they completely took advantage.

(You can continue reading the full story here.)

Carr further offers home videos showing his mother’s aides in action and an admission from the heiress herself regarding the aide’s “control” over her affairs as proof that she was manipulated into giving the majority of her estate to her dogs and the staff would continue to care for them following her death.

And despite whatever proof or knowledge of his mom’s “real” wishes he may claim to have, Carr will be stuck battling this out in court for months, or even YEARS until a judge can determine if that is indeed what the heiress wanted done with her estate.

That is why as an Orange County Probate Lawyer, I can’t stress enough the importance of children staying involved with (and even helping them coordinate) their parent’s end-of-life care and estate planning needs so these surprising and unexpected consequences are avoided at their time of death.

And I want to make it clear that these ‘surprises’ are not limited to the ultra-rich either!  If you don’t keep your documents updated as your life (and the law) changes through the years, your estate (or that of your parents) could end up going outright to an ex-spouse, a child with a serious addiction or money problems or even someone you named YEARS ago but forgot to remove after you fell out of relationship with him or her.

So moral of the story?

Have your documents reviewed often and make sure the estate planning process stays a family affair.  Do what you can to ensure there are no postmortem surprises and that your will, trust and other estate planning documents will work exactly as you want them to should the unexpected occur.

Of course if it’s been awhile since your estate planning documents (or those of your parents) have been reviewed, call me, your neighborhood Orange County Probate Lawyer, at 949-260-1400 and schedule a Free Family Wealth Planning Session (normally $750) with the mention of this article.  However, these appointments are limited to 10 per month so call today!

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Posted in California Probate, Orange County Estate Planning, Uncategorized | 3 Comments »

A Virtual Smack in the Head From Your Neighborhood Wills Lawyer, Orange County

Friday, July 23rd, 2010

From the desk of Darlynn Morgan, Wills Lawyer Orange County

One of my greatest passions in life is educating parents on the importance of naming guardians for their children and preparing in advance should death or incapacity occur.

Of course the possibility of leaving this world can be difficult to accept and for that reason, many parents struggle with this issue.  Yet on the flip side, those feelings can easily lull parents into paralysis and prevent them from taking the proper steps necessary to protect their loved ones should something tragic occur.

Usually when I speak to various groups around Orange County, I try to deliver this message in a more upbeat and cheerful way so the public can see that estate planning can be a positive, interactive and joyful experience.

But for today’s post I am going to be blunt and to the point.

Simply put, it is critical for EVERY PARENT to get their legal and financial house in order to ensure their children stay protected should the unthinkable happen. As you can imagine, children are extremely helpless and vulnerable in emergency situations, so it’s up to YOU to put safeguards in place so your kids are never left at the mercy of a judge or in the arms of someone you would never want to raise them in your absence.

But again, in case I didn’t already make my point, here are a few hard-cold facts about what would happen to your kids if you died tomorrow without a will or trust in place:

1. A judge who doesn’t know you or your children will decide who raises them.

If something happens to you, who is going to step up?  Is it the person that you want to raise them?  If you don’t have an estate plan in place, will your relatives squabble over who is or isn’t responsible for raising them? Do you really want to put your children through that?

2. The person who the judge picks to raise your kids will also be responsible for their financial well-being.

If something happens to you, all of your assets will be handed to the guardian (that you didn’t select) to be managed for the kids. The obvious fear is that this person could possibly use the funds for something other than the care of your children.  However, there are many other things to consider.  Does the person that the judge picked have the same financial values that you do?  For example, you may feel strongly that you would like your children to attend high-end sports clinics to help develop their athletic skills.  But, will the guardian see the value in this?  Maybe they think spending that much money is a waste.

3. All of the money left from your estate (assuming there IS any) may go to your child in a lump sum when she is 18 years old.

Think about this one.  What would you have done if someone handed you a bunch of money at 18 years old?  Scary thought, huh?  The hard truth is that most 18 year olds are simply not mature enough to handle finances at that age.  I’ve witnessed case after case of kids who should have been well-off financially, but weren’t because they decided to buy cars and clothes instead of investing in their future by going to college.

So, there you have it.  Consider this a virtual smack in the head for those that need it.  My hope is that you’ll see this article as an urgent wake-up call and do what it takes to make sure your family is protected, no matter what.  To help you do just that, I’ll give you a FREE Family Wealth Planning Session (normally $750) as a reward for stepping up and doing what’s right by your family.

Simply call me, your neighborhood Orange County wills lawyer at 949-260-1400 to reserve your spot. However, this offer is limited to the first 10 appointments so don’t wait….protect your family today!

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When It Comes To Medicaid Planning, Now Is Always Better Than Later Says Orange County Elder Lawyer

Tuesday, July 6th, 2010

As an Orange County elder lawyer, I often hear people exclaim during their planning sessions “I hope I never end up in a nursing home!”

How many times have you said it yourself?

The loss of personal freedom as well as the potentially devastating financial cost can be a scary proposition.  Depending on where you live and the level of care you need, nursing homes can cost between $35,000 and $150,000 per year.

Long-term nursing care can be devastating to a family’s financial life for generations.

Pro-active planning, in advance if possible, can help protect what you’ve worked so hard for so you can leave it all to your family instead.

Pro-active planning for long-term nursing care can be done in one of two ways: 1) purchasing long-term care insurance or 2) by making sure your assets are structured so you are fully eligible to receive the benefits you’re entitled to under the government’s Medicaid programs.

Medicaid, not to be confused with Medicare is, for all intents and purposes, the only “insurance” plan for long-term institutional care in the United States.

For those lacking the financial resources to pay privately or to pay for coverage under a private long-term care insurance policy, they can pay out of their own pockets for long-term care until they become “impoverished” under the program guidelines and become eligible for Medicaid.

Medicaid and Medicare may sound similar but they are very different programs.  Medicare is a totally federal program.  As a retiree, if you receive Social Security benefits, you’re also entitled to Medicare as your health insurance.

Medicaid, on the other hand, is run jointly by the federal and state governments and is based on need.  As with pretty much any federal or state program, the process of applying benefits can be confusing.  The Medicaid eligibility rules differ by state and change constantly.  If you’re not in immediate need of long-term care, you may have the luxury of distributing or protecting your assets in advance and protecting your eligibility for Medicaid benefits.  This way when you do need long-term care, you’ll quickly qualify for Medicaid benefits.  We utilize a number of strategies and tools to proactively plan for your Medicaid eligibility and preserve your assets for your loved ones.

Medicaid planning, as well as a Will, Trust (if you own assets that would go through probate) and a Kids Protection Plan should be a part of your comprehensive estate plan.

It’s always amazing to me how many Orange County elder lawyers claim to understand the complex Medicaid rules, but really do not.  What that means is that your family could end up paying anywhere between $3,000 and $7,000 per month out of pocket for care that could have been covered by the government.

Preparing your assets to be eligible for Medicaid is not something you can do yourself. It’s complicated and can be extremely costly if you get bad advice.

If you or a family member is over the age of 65 or ill, call us to schedule your Family Wealth Planning Session with or Orange County elder law firm today so we can identify what needs to be done to protect your assets for your loved ones and your Medicaid eligibility.  Our Family Wealth Planning Session is normally $750, but this month I’ve made space for the next two people who mention this article to have a complete planning session with me at no charge.  Call today and mention this article.

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Orange County Estate Planning Security: Have It Before You Hit the Sand

Thursday, May 27th, 2010

From the desk of Darlynn Morgan, Orange County estate planning attorney

Imagine the scene—it’s vacation time. You push the umbrella into the sand, watch the ocean waves roll up onto the beach in sublime rhythm. Your kids run out into the water, maybe, toting boogie boards and laughter. It’s the summer – the week ahead stretches out lazily, and all you have to do for the first time in months is just relax and enjoy family time. You sink into your beach chair, feel the hot sun blazing down on your skin … wait, hot?!

You jump and race up the beach  to the nearest phone (unless you are one of those that can’t leave it behind) to call a neighbor, someone, anyone.

You realize you forgot to turn off the stove!

As frightening as that scenario is, there are equally important red-flags that should cross our minds while away on vacation, though. Take for example the vital Orange County estate planning questions such as what would happen if you and/or your spouse were killed on the trip? What would happen to your children if you were incapacitated thousands of miles away from home? Have you prepared your will?

The last thing you need to worry about on vacation is what will happen if you don’t come back, and a good set of Orange County estate planning documents will keep that worry far from your mind. This typically means setting up a will and a trust tailored to the unique needs of your family before hitting the road.

Remember, simply writing a few requests down on a piece of paper does not mean you have a plan in place! In a number of states, a will must meet statutory requirements to be ruled as valid in the eyes of a court. Even if that sheet of paper accurately describes your post-mortum wishes, there is no guarantee that the Court will even consider the document.

So, before you slip into your bathing suit and hit the surf – make sure you know that your family is taken care of by planning for the worst and expecting the best!

And as always, if you need help setting up such documentation before leaving this summer, call our Orange County estate planning law firm now at 949-260-1400 for immediate assistance.

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Posted in California Child Protection, Orange County Estate Planning, Orange County Wills and Trusts, Uncategorized | 1 Comment »

Estate Planning Checkup for Your Parents

Wednesday, December 2nd, 2009

Perhaps it’s a touchy subject.  Talking to your parents about their estate planning isn’t easy, but after they die, you’re the one most likely to be responsible for taking care of matters.  If everything is not in order it’s going to be 10x more expensive and more stressful in the long run.

Typically, mom and dad think they have it all taken care of.  They had some estate planning done several years ago and then put the documents up on some shelf where they gathered dust and they haven’t looked at them since.  Unfortunately, this is a recipe for disaster and you and your family may be in for quite a surprise should there be a death or incapacity.

Here are 3 steps that you can take now to make sure that your parents’ estate plan really does do what they want it to do and make sure your family isn’t going to be faced with thousands of dollars in legal expenses, taxes and needless complication.

1.  Review Legal Title to All Assets.

If your parents assets are not properly titled, it could cost you tens or even hundreds of thousands of dollars.  Title to the family home and other assets are often not properly titled and therefore do not accomplish the family’s estate planning goals.  This also means reviewing beneficiary designations on retirement plans and life insurance.  You could be facing an expensive, time-consuming and stressful process called probate.  Probate is totally avoidable by ensuring that ALL of your parents’ assets are properly titled.

2.  Review All Estate Planning Documents, At Least Every 3 years

Just as it’s necessary to have regularly scheduled medical check-ups, even when you are feeling fine, so too an estate plan needs periodic check-ups to make sure that it is still going to work as intended.  The law changes; your assets change, and your family changes too.  Uncovering a problem that might lie buried in your files until it is too late can save you and your family a ton of heartache and thousands of dollars.

Financial or healthcare powers of attorney can go stale, meaning that they may not be accepted if they are old or don’t meet updated legal requirements.  If a parent gets rushed to the hospital, and is then in for some length of time or becomes incapacitated, you could be stuck if they have not executed updated documents.  This not only protects them, but you as well; you need to be able to step in with the legal authority to obtain critical information and handle their affairs.

3.  Plan to Protect Your Inheritance – Don’t Leave it At Risk!

Most estate plans leave an inheritance outright: a lump sum distribution.  This is simple and easy, but dangerous.  If your parents’ estate plan is drafted in the best way possible, you could receive your inheritance completely protected from divorce, estate taxes, and creditor claims.

You can easily plan now by having your parents’ estate plan reviewed and then take the necessary steps to prepare everything for a smooth administration.  Invest a fraction of the time and energy now to avoid major complication, stress and cost later.  It’s one of the best and least expensive investments you can make for your peace of mind.

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The estate planning law firm of Morgan Law Group, apc serves all cities in Orange County, including: Aliso Viejo, Anaheim, Balboa Island, Brea, Buena Park, Capistrano Beach, Corona Del Mar, Costa Mesa, Coto de Caza, Cypress, Dana Point, as well as estate planning in Foothill Ravnch, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, La Habra, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, Lake Forest, and estate planning and probate in Los Angeles, Mission Viejo, Newport Beach, and estate planning and probate law firm information in Orange, OC, Placentia, Rancho San Margarita, San Clemente, Santa Ana, Seal Beach, Tustin, Villa Park, Westminster, and Yorba Linda.