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. Watch our YouTube video on this topic HERE. … [Read more...] about Now That Mid-Terms Are Over, Let’s Talk Taxes
Estate Planning
Estate Planning for Couples Without Children
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
Common Mistakes in Estate Planning – Part V
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
Planning for the International Client
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
Refresh and Reset: Syncing up in San Diego
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
Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount
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
Segundas Nupcias y Su Plan de Sucesión
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
Remarriage and Your Estate Plan
If you are married, an important focus of your estate plan is likely ensuring that your spouse is financially protected in the event of your death. If you have children together, you likely plan for your combined estate assets to be passed down to your children after you are both gone. What happens, however, if you die at a relatively young age and your spouse remarries? Will the assets you intended for your children be safe? The Los Angeles estate planning attorneys at Schomer Law Group, APC … [Read more...] about Remarriage and Your Estate Plan
Do I Need an Advance Directive?
Your estate plan should protect you and your assets while you are alive as well as arrange for how those assets are distributed after you are gone. Making sure that your wishes are honored regarding healthcare decisions that may need to be made in the future is one way your estate plan can help protect you. Toward that end, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain why you should consider adding an advance directive to your estate plan. What Is an Advance … [Read more...] about Do I Need an Advance Directive?
Types of Joint Ownership in California
At some point, you may decide to co-own property with a spouse, adult child, business partner, or someone else. If so, it is crucial that you title the property correctly because the way in which jointly owned property is titled will impact several important areas of your life. To elaborate, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain the different types of joint ownership in California. Co-Owning Property in California State law governs joint … [Read more...] about Types of Joint Ownership in California
