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 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?
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
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
Estate planning too often focuses on couples with children who wish to decide how and when to pass down an inheritance to future generations. Consequently, couples without children often believe that estate planning is not equally important for them. To correct this common misconception, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss estate planning for couples without children. Childlessness in America Data published from numerous studies, including one by the … [Read more...] about Estate Planning for Couples Without Children
Some individuals create a Revocable Trust, pour-over Will, Property Power of Attorney, Health Care Power of Attorney, Living Will, Health Insurance Portability and Accountability Act Authorization Act and think that those documents alone constitute a complete Estate Plan that will protect their family. While the documents themselves represent a solid beginning, the documents don’t cover every asset or concern. A qualified Estate Planning attorney will consider all and provide advice regarding … [Read more...] about Common Mistakes in Estate Planning – Part V
As the world shrinks due to increased mobility and interconnectedness, estate planning has become more complex. Now estate planning requires understanding issues that arise when a client owns assets in another country or resides in the U.S. but lacks citizen status. Things change for clients who neither reside in the U.S., nor have U.S. citizenship, but who own U.S. property. Read on to learn more. … [Read more...] about Planning for the International Client
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning Attorneys held its semi-annual conference providing education on selected topics designed to inspire excellence in its Members. Read on to learn more about the unique experience at the Fall Summit 2022 Conference. Read on to learn more. … [Read more...] about Refresh and Reset: Syncing up in San Diego
The holidays are a great time to review the past year and make plans for the upcoming one. Part of those plans should be reviewing your Estate Plan and considering what, if any, steps you should take to help you achieve your goals. One of the easiest, but most overlooked, ways to do some quick planning is to take advantage of the annual per donee exclusion amount which can have a tremendous impact on reducing the estate without use of the applicable exclusion amount. Read on to learn more. … [Read more...] about Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount
Si está casado, un enfoque importante de su plan patrimonial es probablemente garantizar que su cónyuge esté protegido financieramente en caso de su muerte. Si tienen hijos juntos, es probable que planifiquen que sus activos patrimoniales combinados se transmitan a sus hijos después de que ambos se hayan ido. ¿Qué sucede, sin embargo, si mueres a una edad relativamente joven y tu cónyuge se vuelve a casar? ¿Los activos que destinó a sus hijos estarán seguros? Los abogados de planificación … [Read more...] about Segundas Nupcias y Su Plan de Sucesión