As you plan your strategy for 2022, it’s important to consider gifting, including spousal gifts. Your spouse could double your ability to make gifts of “annual exclusions” without being considered to have made a gift for estate tax purposes. Read on to learn more. … [Read more...] about Double Your Gifting with Spousal Gift-Splitting
Estate Planning
The Evolution of our Unified Estate and Gift Tax System
Many individuals think that if their estate is below a certain amount that they need not be concerned with Estate Planning. As this article demonstrates, because the Estate Tax evolves constantly, it’s important to talk with a professional to create a plan to accomplish your goals. Read on to learn more. … [Read more...] about The Evolution of our Unified Estate and Gift Tax System
The Intersection of Legacy Contacts and Estate Planning
As more and more individuals get comfortable in the digital world, Estate Planning has changed to address the collection and transfer of digital assets. The widespread use of a legacy contact allows owners of digital content to determine what will happen with it after they die. Read on to learn more. … [Read more...] about The Intersection of Legacy Contacts and Estate Planning
Common Ways to Include Charitable Gifts in Your Estate Plan
Are you someone who gives regularly and generously to charity? If so, you may hope to continue your charitable gifting after you are gone. While you can simply make charitable gifts in your Last Will and Testament, there are other options that offer additional benefits to both you and to the recipient. The Los Angeles estate planning attorneys at Schomer Law Group, APC discuss common ways to include charitable gifting in your estate plan. Charity and Your Lasting Legacy If giving back is … [Read more...] about Common Ways to Include Charitable Gifts in Your Estate Plan
What Is the Most Important Estate Planning Document?
Despite acknowledging the need to have an estate plan in place, more than half of all Americans have yet to start on their estate plan. One common explanation for this is that the average person finds the idea of creating an estate plan intimidating. While an estate plan can become extremely complex as both your family and your estate grow, a basic estate plan is not usually as complex and difficult to understand as people frequently envision it will be. For many people, the first question they … [Read more...] about What Is the Most Important Estate Planning Document?
Dejar a Sus Hijos una Herencia de Suma Global Puede No Ser Sabio
Si usted es padre, es probable que planee transmitir algunos, o todos, los activos de su patrimonio a sus hijos después de su muerte. Si sus hijos aún son menores de edad, no pueden heredar directamente de su patrimonio; sin embargo, una vez que sean adultos legales, puede dejarles activos directamente dentro de su plan de sucesión. El hecho de que puedas no significa que sea la mejor idea. Los abogados de Los Ángeles en Schomer Law Group, APC discute por qué dejar a sus hijos una herencia de … [Read more...] about Dejar a Sus Hijos una Herencia de Suma Global Puede No Ser Sabio
Tax Planning for 2022
Planning is important for your income taxation during life as well as for any estate tax at death. Even though 2022 is just starting, it’s not too early to think about planning for whatever it may bring your way. Read on to learn more. … [Read more...] about Tax Planning for 2022
Using Entities in Estate Planning
More and more families own property, assets, and businesses together. Using an entity to govern operations provides stability by allowing continued operation upon the death of an owner. When the governing agreement and estate planning documents of a deceased owner conflict, unintended, potentially litigious, results occur. Read on to learn more. … [Read more...] about Using Entities in Estate Planning
The Sky Isn’t Falling
When we learned of the original provisions in the Build Back Better Act, many individuals panicked, rushing to complete Estate Planning or seeking to undo certain aspects of their estate plan. As the Build Back Better Act has evolved, many wondered if they should have waited before making significant changes to their estate plan. No matter what happens with the Build Back Better Act, an estate plan centered on long-term goals will serve you well. Read on to learn more. … [Read more...] about The Sky Isn’t Falling
Practical Lessons in Drafting
Individuals who undertake Estate Planning want to ensure that their plan works the way it’s intended. When clients neglect to consider Estate Planning on a regular basis, they set themselves up for failure. Waiting until an emergency arises almost guarantees that the plan will fail when needed the most. Estate Planning completed under duress can lead to unfavorable results. Read on to learn more. … [Read more...] about Practical Lessons in Drafting
