If you are an adult child with an aging parent, there may come a time when you begin to worry about your parent’s ability to make personal and/or financial decisions. If your parent is suffering from Alzheimer’s, or another age-related dementia condition, you have even more reason for concern. At the same time, you probably do not want to take away your parent’s freedom and autonomy. Failing to act, however, could lead to your parent being injured or victimized. How do you know when your parent … [Read more...] about Does My Parent Need a Legal Guardian?
If you are responsible for overseeing the probate of an estate, chances are good that you are doing so while also grieving the loss of a loved one. It can be emotionally and practically challenging to try and fulfill your duties as Executor under those conditions. An Executor has numerous important responsibilities, including making sure federal gift and estate taxes are calculated correctly and paid on time. To help you fulfill your duties as Executor, the Los Angeles probate attorneys at … [Read more...] about How Do I Pay Estate Taxes?
Being a caregiver for an elderly loved one is often mentally, physically, and financially exhausting when you live close by and have the resources close at hand to help. Providing that care from a distance adds yet another level of stress and anxiety to an already challenging task. To help alleviate some of that stress, the Los Angeles elder law attorneys at Schomer Law Group, APC offer some tips for long-distance caregivers. Caregiving Facts and Figures According to the National Alliance … [Read more...] about Tips for Long-Distance Caregivers
Si ya tiene un plan de sucesión en su lugar, ya comprende la importancia de una planificación patrimonial cuidadosa y exhaustiva. Sin embargo, tomarse el tiempo para crear ese plan es solo el primer paso para proteger a todos y todo lo que es importante para usted. Para que el plan patrimonial que creó funcione según lo previsto, debe modificarse de vez en cuando. Eso puede requerir que agregue o elimine herramientas de planificación patrimonial o incluso componentes completos. También … [Read more...] about ¿Es Hora de Actualizar a Sus Beneficiarios?￼
Starting a business is part of the “American dream” for many people. If you are one of those people, and you hope to one day pass down your business to the next generation, the key is planning early and planning well. Sadly, many family businesses do not successfully make the transition from one generation to the next because the matriarch or patriarch failed to do so. To help make sure your business is protected, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain how … [Read more...] about How Can Creating a Family Limited Partnership Help My Business?
An important part of any comprehensive estate plan is the distribution of estate assets. Sometimes that requires nothing more than a Last Will and Testament and/or a trust agreement that provides for the gifting of all estate assets upon their death. Lifetime gifting, however, can also be part of the overall distribution of assets in a comprehensive estate plan. Deciding whether to gift while you are alive or only after you are gone can be a difficult and complex decision. The Los Angeles estate … [Read more...] about Should I Gift While I Am Alive or After I Am Gone?
If you are counting on life insurance to help achieve some of your estate planning goals, it is imperative that you understand how the proceeds will be treated after you are gone. This is particularly true if you want to name a trust as the beneficiary of the policy. Toward that end, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss making a trust the beneficiary of your life insurance policy. How Does Life Insurance Fit into Your Estate Plan? Although there are a … [Read more...] about Can a Trust Be the Beneficiary of a Life Insurance Policy?
Your estate plan may be the most important set of documents you ever create. With that in mind, mistakes should be avoided whenever possible. The average person, however, knows very little about estate planning, making mistakes common. To help prevent you from making a costly mistake, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss five common estate planning mistakes you can avoid making. Not planning. People are frequently under the mistaken impression that … [Read more...] about 5 Estate Planning Mistakes You Can Avoid Making
The average life expectancy of an American has almost doubled in the last century. While living longer is certainly something we can all be thankful for, we must also live with the effects of the natural aging process for longer than our ancestors did as a result. That means we all stand a much better chance of needing long-term care (LTC) at some point before the end of our lives. If you (or a spouse) do end up in LTC, how will you pay for the high cost of that care? Long-term care insurance is … [Read more...] about Should I Purchase Long-Term Care Insurance?
Small family businesses were once the backbone of the American economy, allowing children to learn a useful trade and/or management skills from helping in the family business. Moreover, it was assumed that one of those children would take over control of the business upon the retirement, disability, or death of the patriarch or matriarch of the family. Although family businesses all but disappeared for decades, they are coming back in droves across the U.S. If you own a family business, the Los … [Read more...] about How Can Estate Planning Help Protect Your Business?