SAFEGUARDING YOU AND YOUR LIFE’S WORK

As families reflect on the year, securing your assets through estate planning is crucial for protecting loved ones and ensuring financial stability. This means establishing at least a minimum estate plan—like a will, powers of attorney, and advance directives—or completing a full plan with trusts to safeguard against uncertainties.

In 2025, with California's Medi-Cal program evolving, major updates effective January 1, 2026, reinstate asset limits at $130,000 per person and $195,000 per couple for most non-MAGI programs, plus $65,000 for each additional household member up to 10 (some spousal protections and program-specific rules apply). This makes it essential to review and update plans now to maintain eligibility and avoid issues. Early action before December 31 helps leverage current rules, navigate rising costs, and protect family legacies in states like California and Alabama.

Options in the Bay Area can complement professional estate planning. For instance, coordinating legal strategies with supportive programs enhances asset protection and peace of mind.

What is a Minimum Estate Plan and Why Does It Matter?

A minimum estate plan provides basic protections to direct asset distribution, healthcare decisions, and financial management if you're incapacitated. It helps families avoid disputes and unnecessary taxes, though it typically requires probate for validation.

• Key elements: A last will and testament for inheritance; durable power of attorney for finances; advance healthcare directive for medical choices; beneficiary designations on accounts.

Example: Many clients in San Francisco use a simple will to ensure assets pass to heirs, but it still goes through probate court unless the estate qualifies for small estate exceptions (under $208,850 for personal property in California as of April 1, 2025; a separate higher threshold of $750,000 applies for primary residences under certain conditions).

In 2025, it's vital amid economic shifts and the 2026 Medi-Cal asset reinstatement—failing to plan risks eligibility loss or asset depletion. Benefits: Streamlined inheritance, reduced family stress, and alignment with your wishes.

Key Options for Estate Planning

• Minimum Estate Plan: Covers essentials like wills and directives to handle basics. Pros: Quick setup, cost-effective; cons: Typically undergoes probate.

• Complete Estate Plan: Includes revocable or irrevocable trusts for advanced protection. Pros: Avoids probate, shields from creditors.

• Updating Existing Plans: Reviews documents for life changes or new laws like 2026 Medi-Cal limits. Pros: Ensures compliance, maximizes exemptions.

In California, consider high property values and taxes; in Alabama, focus on probate differences. Common pitfalls: Outdated plans ignoring multi-state assets—professional guidance prevents this.

Step-by-Step: How to Get Started Before December 31

1. Assess your current setup—review existing documents or note gaps.

2. Gather key info: Deeds, accounts, insurance policies.

3. Consult a licensed attorney for tailored advice, incorporating 2026 Medi-Cal shifts.

4. Draft or update wills, trusts, and directives.

5. Designate beneficiaries and fund trusts if needed to avoid probate.

6. Review with family for clarity.

Common Questions About Estate Planning in 2025

Families often ask:

• How much does it cost? Costs depend on the service—expect higher prices for more comprehensive, personalized options.

• What are DIY risks? Misses state rules, risking invalid plans; professional review is essential.

• How does Medi-Cal fit? Updates in 2026 require asset strategies to preserve eligibility.

• When to start? Before December 31 to act under current rules.

Signs You Need Professional Guidance

• Property ownership; family changes; multi-state assets; business interests.

With planning rates low, guidance ensures your plan adapts to 2026 changes and addresses probate for wills.

How Greene Law Firm, P.C. Can Assist You

Greene Law Firm, P.C., assists clients with wills, trusts, probate, elder law, and asset protection. Licensed in California, Alabama, and Florida, we provide personalized plans that address family needs and coordinate with resources, drawing from multi-state experience.

• Clients: Families, business owners, retirees.

• Services: Minimum to complete estate plans, updates.

• Approach: Empathetic, thorough consultations.

Ready to Prepare?

Don't wait for 2026 changes to limit your options. Complete your checklist before December 31.

Contact Greene Law Firm, P.C., today. Call 415-905-0215 (San Francisco) or 205-746-2465 (Birmingham), or email jay@greenelawfirm.com—free initial chats available.

About the Author Attorney Jay Patrick Greene, CPA, founded Greene Law Firm, P.C. Licensed in California, Alabama, and Florida, he has over 15 years in wills, trusts, probate, elder law, and asset protection.

For more information, visit: https://greenelawfirm.com

Statements in Compliance State Rules of Professional Conduct: This material is only for general information and is not considered legal advice. Every case is different, and past results do not guarantee future outcomes. No representation is made that the quality of our legal services is greater or less than that of other lawyers. Please consult a lawyer licensed in your state for legal advice about your specific situation.

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