Probate avoidance tools and strategies are an important part of a comprehensive estate plan. There are several reasons why avoiding probate should be an estate planning goal, including the cost of probating an estate. To encourage you to incorporate probate avoidance strategies in your estate plan, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss what it typically costs to probate an estate in California. Probate Basics Most people leave behind an estate when … [Read more...] about What Does it Cost to Probate an Estate in California?
If you have an estate plan in place you are ahead of the game given that over half of all Americans do not have one. For that plan to work as intended, however, it needs to be up-to-date and complete. An estate plan that is missing a critical component or important tools will likely fail to accomplish its intended goals. To help ensure that your estate plan is a success, the Los Angeles estate planning attorneys at Schomer Law Group, APC urge you to review your estate plan to make sure nothing … [Read more...] about What Is Missing in Your Estate Plan?
If you were named as the Executor of the estate in a decedent’s Last Will and Testament, or you have been elected to handle the probate of the estate if the decedent died intestate (without a Will), you must focus on the legal and practical issues that arise following the passing of a loved one. If this is the first time you have administered an estate, you may be unsure of what is required. In addition, your emotional state may make it more likely you will make mistakes during the probate … [Read more...] about Common Probate Mistakes and How to Avoid Making Them
Your estate plan should be uniquely designed to achieve your specific goals and objectives using a variety of estate planning tools and strategies. All these estate planning documents are essential components used to protect yourself, your assets, and your loved ones. You may still feel though that something is missing. A Letter of Instruction could be that missing component. The Los Angeles estate planning attorneys at Schomer Law Group, APC explain how a letter of instruction might fit into … [Read more...] about How Does a Letter of Instruction Fit into My Estate Plan?
If you plan to make gifts in your estate plan to minor beneficiaries, care must be taken when making those gifts. This applies whether the gifts are made during your lifetime or after you are gone. One estate planning tool that may be able to help is the Uniform Transfer to Minors Act. To help you better understand, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain the Uniform Transfer to Minors Act (UTMA) and how it might fit into your estate plan. The History of … [Read more...] about What Is the Uniform Transfer to Minors Act?
For many people, a successful estate plan needs to limit exposure to federal and/or state gift and estate taxes. Failing to incorporate tax avoidance strategies into your estate plan could cost your estate (and your beneficiaries) a substantial amount of money. With that in mind, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain how you can benefit from incorporating the annual exclusion into your estate plan. Understanding Federal Gift and Estate Taxes The … [Read more...] about Are You Taking Advantage of the Annual Exclusion?
Whether for yourself or for someone you care for, you will likely need to rely on an elder law attorney at some point in your life for advice and/or guidance. As the nation’s population of older individuals continues to grow at a heretofore unprecedented pace, legal issues that impact the elderly have taken on heightened importance. With that in mind, the Los Angeles elder law attorneys at Schomer Law Group, APC explain five things you should know about elder law. Contact Los Angeles Elder … [Read more...] about 5 Things You Should Know About Elder Law
La planificación patrimonial con demasiada frecuencia se centra en parejas con hijos que desean decidir cómo y cuándo transmitir una herencia a las generaciones futuras. En consecuencia, las parejas sin hijos a menudo creen que la planificación patrimonial no es igualmente importante para ellos. Para corregir este concepto erróneo común, los abogados de planificación patrimonial de Los Ángeles en Schomer Law Group, APC discuten la planificación patrimonial para parejas sin hijos. Falta … [Read more...] about Planificación Patrimonial para Parejas Sin Hijos
A comprehensive estate plan will work toward achieving numerous interrelated goals that accomplish far more than just planning for the distribution of your estate assets after your death. To accomplish those various goals, you will likely need to make use of numerous and varied estate planning tools and strategies. Trusts, for example, are commonly found throughout the average estate plan. Trusts have evolved to the point where there are a variety of highly specialized trusts that serve very … [Read more...] about Should I Include an Irrevocable Life Insurance Trust in My Estate Plan?
As inflation continues to rise, more and more individuals seek ways to stretch their dollar further. One of the many factors to consider is their overall tax burden. Sometimes, simply moving to another state, if otherwise feasible, can make a significant impact on an individual’s bottom line. Wonder how your state measures up? Read on to learn more. … [Read more...] about Now That Mid-Terms Are Over, Let’s Talk Taxes