If you are newly married, you and your new spouse will probably want to make changes to your existing estate plans to reflect your new marital status. One of the first things you will likely consider is changing your existing Wills or creating Wills if you do not yet have them. You may have heard that married couples often create joint or reciprocal Wills. It is important to understand the difference between these two options as well as to understand how much either option can accomplish. With … [Read more...] about Married Couples: Reciprocal vs. Joint Will
Although a Last Will and Testament typically acts as the foundation of an estate plan, most people find the need to incorporate additional documents and strategies as they expand their estate planning goals and objectives. A trust agreement is often one of these additions. If you are contemplating the addition of a trust agreement to your estate plan, you likely have several trust related questions. To help answer one of those questions, the Los Angeles attorneys at Schomer Law Group, APC … [Read more...] about Can I Still Access Assets Transferred into a Trust?
If you have an elderly parent, grandparent, or another loved one who has succumbed to the natural aging process and now needs help to live alone, you may be struggling with the available options. The idea of putting your loved one in a nursing home probably doesn’t sit well with you or with them. Fortunately, there are other options that may work to delay or even avoid the need for nursing home care. To get you started, the Los Angeles attorneys at Schomer Law Group, APC explain some common … [Read more...] about Alternatives to Nursing Home Care in California
Probate is the legal process that will be required after you pass away to ensure that your estate assets are properly identified, valued, and eventually transferred to the intended beneficiaries and/or heirs of your estate. To avoid wasting time and money, you want the probate of your estate to move along quickly and efficiently. To help you achieve that goal, the Los Angeles attorneys at Schomer Law Group, APC discuss five reasons why probate might take longer than it should in California. 5 … [Read more...] about 5 Reasons Why Probate Might Take Longer than It Should in California
The Academy’s Fall Summit brought learning and camaraderie. The Academy introduced the Enterprise Model Law Firm and rolled out a new Trust Administration module. There were many great substantive legal education topics and practice management topics. As always, it was great to reconnect with friends and establish new relationships. Read on to learn more. … [Read more...] about Learning, Re-inventing, and Camaraderie in San Diego
Appointing a Trustee is a significant decision when setting up a trust as part of your estate plan. You may find yourself torn between two or more prospects for the role of Trustee. One option to consider is appointing more than one Trustee (Co-Trustees). To help you decide if appointing more than one Trustee is a good idea, the Los Angeles attorneys at Schomer Law Group, APC discuss the advantages and disadvantages of this approach. Understanding Trusts A trust is a legal arrangement in … [Read more...] about Is Appointing More Than One Trustee a Good Idea?
When a loved one passes away, one of the most challenging tasks for survivors is the planning of the funeral and related services. This process can be emotionally and financially draining. Regrettably, some individuals in the funeral industry take advantage of the grief-stricken and engage in practices like overselling or inflating prices for funeral services and burial items. What many people may not be aware of is that they possess specific rights when arranging a funeral. To ensure that you … [Read more...] about What Every Grieving Loved One Should Know about “The Funeral Rule”
As seniors live longer and technology makes it easier for everyone to stay connected, elder abuse continues to rise. Estate planning attorneys may find themselves on the front-line of these matters. Because elder abuse takes on many forms, it’s important for practitioners and consumers alike to have the skills necessary to recognize the signs of elder abuse. Read on to learn more. … [Read more...] about Exploring Elder Abuse
When individuals consider estate planning, they often look to federal law to determine the potential tax ramifications for their estate and beneficiaries. Some may neglect to consider the impact of state estate taxes which vary widely from state to state. Read on to learn more. … [Read more...] about Understanding the Interplay of State Estate and Inheritance Taxes with Federal Estate Tax
Anyone creating an Estate Plan wants to ensure that the plan will work as intended and will withstand legal challenges. Sometimes though, a legal challenge is necessary to ensure that the Estate Plan reflects the true intent of the decedent is carried out and that the fiduciaries act in accordance with their duties. This article examines the most common ways that litigation arises in the Trusts and Estates arena. Read on to learn more. … [Read more...] about Let’s Talk Litigation