As the population over the age of 65 continues to grow, unique problems arise. For example, many seniors may have never married, or outlived their spouse and lack confidence that someone will help them make financial and health decisions as it becomes more difficult or when they become incapacitated. A qualified Estate Planning practitioner can provide guidance to address the issues unique to the solo senior. Read on to learn more. … [Read more...] about Planning for the “Silver Tsunami”
Estate Planning
How Much Power Is in a Power of Attorney?
You are probably already familiar with the concept of a Power of Attorney. If you have not already, at some point you will likely create a Power of Attorney (POA) and/or be named as the Agent in a POA executed by someone else. Unfortunately, a Power of Attorney is also one of the most frequently abused legal documents. The Los Angeles estate planning attorneys at Schomer Law Group, APC explain how much power is in a Power of Attorney. What Is a Power of Attorney? At its most basic, a Power … [Read more...] about How Much Power Is in a Power of Attorney?
Review Your Estate Plan During LGBT History Month
Every year in October, the LGBT community and its supporters celebrate LGBT History Month. If you will be among those who are celebrating the importance of LGBT history this October, you should also take the time to review and revise your estate plan. LGBT History Month reminds us that while great strides have been made in the fight for equality, protecting yourself, your assets, and your loved ones through comprehensive estate planning remains essential. The Los Angeles estate planning … [Read more...] about Review Your Estate Plan During LGBT History Month
The Inflation Reduction Act
President Biden scored a win on some issues, but a loss on others when he signed the Inflation Reduction Act into law. The legislation left the estate and gift tax alone and made modest changes to the income tax. The Act will have a significant impact on those on Medicare because of the cap on out-of-pocket prescription drug costs and insulin. Read on to learn more. … [Read more...] about The Inflation Reduction Act
What’s Estate Planning Got to do with Interest Rates – Part II
As interest rates continue to climb, Estate Planning practitioners look to different planning techniques to take advantage of rising rates. Two common estate planning techniques work well in higher-interest rate environments. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part II
What’s Estate Planning Got to do with Interest Rates – Part I
Interest rates were at historic lows for many years. Those rates have begun to rise in recent months and may continue to do so. Practitioners need to monitor interest rates in order to advise clients regarding the most effective Estate Planning strategies in any environment. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part I
Hispanic Heritage Month in Los Angeles
Each year, we celebrate Hispanic Heritage Month in Los Angeles and throughout the United States from September 15 through October 15th. Along with partaking in the numerous and varied festivals and activities planned for Hispanic Heritage Month, the Los Angeles estate planning attorneys at Schomer Law Group, APC encourage you to create or update your estate plan. What Is Hispanic Heritage Month? Hispanic Heritage Month began in 1968 as Hispanic Heritage Week under President Lyndon Johnson … [Read more...] about Hispanic Heritage Month in Los Angeles
How Can a Tax Apportionment Clause Benefit My Estate Plan?
Deciding how your assets will be distributed after you are gone is certainly an important estate planning goal; however, it should not be the only goal. Among the other important considerations in your estate plan should be the impact state and federal taxes, including gifts and estate and inheritance taxes, will have on your estate. Not only do you need to know what taxes will be incurred, but you should also consider how they will be paid and who will be responsible for paying them. With that … [Read more...] about How Can a Tax Apportionment Clause Benefit My Estate Plan?
How to Create Your First Estate Plan
Creating your first estate plan can be an exciting, yet equally intimidating, prospect. Understandably, most people are unfamiliar with the terminology, tools, and strategies that go into estate planning. Knowing what to expect and how to prepare can help your initial estate planning experience be both beneficial and enjoyable. With that in mind, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain common steps involved in creating your first estate plan. Consult with … [Read more...] about How to Create Your First Estate Plan
Understanding Undue Influence – Part II
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions for the slighted beneficiaries. These questions usually revolve around methods to have the plan overturned. Most states give clients tools to protect their carefully crafted plans, even after their death. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part II
