Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions. Most of the time, clients have consulted with a competent attorney regarding their reasons for structuring the plan the way that they have. Sometimes, other factors are at play and the plan doesn’t represent the testator’s true wishes, but rather, another individual’s testamentary desire. That’s undue influence and there are ways to guard against it. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part I
Estate Planning
Strategies to Help Protect Your Assets
The primary focus of your estate plan is likely creating a roadmap for passing down assets to loved ones at the end of your life, your estate plan should also help protect and grow those assets throughout your lifetime. In fact, asset protection should be an important component of your estate plan because failing to protect your assets could mean you have nothing left to pass down at the end of your life. The Los Angeles estate planning attorneys at Schomer Law Group, APC discuss some … [Read more...] about Strategies to Help Protect Your Assets
¿Cuándo Debo Actualizar Mi Plan de Sucesión?
Crear un plan patrimonial integral es una de las cosas más importantes que puede hacer tanto por usted como por sus seres queridos. Un plan patrimonial bien pensado debe proteger sus activos y ayudarlos a crecer a lo largo de su vida, así como garantizar que sus seres queridos estén financieramente seguros si muere o queda incapacitado. Si ya tiene un plan de sucesión en su lugar, ha tenido un buen comienzo; sin embargo, no puede detenerse allí. Actualizar su plan de sucesión es tan importante … [Read more...] about ¿Cuándo Debo Actualizar Mi Plan de Sucesión?
How Do I Trust Thee…Part III
If a client’s Estate Plan involves a revocable trust, then the client needs to decide who will serve as trustee after the client dies. Sometimes, clients have several undesirable options if they want to name an individual and they consider naming an institution to serve as trustee. This article provides a framework for clients considering naming an institutional trustee. Read on to learn more. … [Read more...] about How Do I Trust Thee…Part III
How Do I Trust Thee…Part I
When clients undertake Estate Planning, they face the difficult decision of naming a trustee after their death. While Estate Planning documents are effective once signed, they often contain provisions regarding what will happen upon the trustor’s death. Because of the application years in advance, the choice of who will serve as trustee often vexes clients. They need to make this decision years in advance of the time that the individual will serve and as we know, circumstances change. This … [Read more...] about How Do I Trust Thee…Part I
Should I Gift While I Am Alive or After I Am Gone?
An important part of any comprehensive estate plan is the distribution of estate assets. Sometimes that requires nothing more than a Last Will and Testament and/or a trust agreement that provides for the gifting of all estate assets upon their death. Lifetime gifting, however, can also be part of the overall distribution of assets in a comprehensive estate plan. Deciding whether to gift while you are alive or only after you are gone can be a difficult and complex decision. The Los Angeles estate … [Read more...] about Should I Gift While I Am Alive or After I Am Gone?
Can a Trust Be the Beneficiary of a Life Insurance Policy?
If you are counting on life insurance to help achieve some of your estate planning goals, it is imperative that you understand how the proceeds will be treated after you are gone. This is particularly true if you want to name a trust as the beneficiary of the policy. Toward that end, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss making a trust the beneficiary of your life insurance policy. How Does Life Insurance Fit into Your Estate Plan? Although there are a … [Read more...] about Can a Trust Be the Beneficiary of a Life Insurance Policy?
5 Estate Planning Mistakes You Can Avoid Making
Your estate plan may be the most important set of documents you ever create. With that in mind, mistakes should be avoided whenever possible. The average person, however, knows very little about estate planning, making mistakes common. To help prevent you from making a costly mistake, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss five common estate planning mistakes you can avoid making. Not planning. People are frequently under the mistaken impression that … [Read more...] about 5 Estate Planning Mistakes You Can Avoid Making
How Can Estate Planning Help Protect Your Business?
Small family businesses were once the backbone of the American economy, allowing children to learn a useful trade and/or management skills from helping in the family business. Moreover, it was assumed that one of those children would take over control of the business upon the retirement, disability, or death of the patriarch or matriarch of the family. Although family businesses all but disappeared for decades, they are coming back in droves across the U.S. If you own a family business, the Los … [Read more...] about How Can Estate Planning Help Protect Your Business?
What Is Fiduciary Role and How Do I Pick My Fiduciaries?
A frequently overlooked (yet crucial) aspect of estate planning is the importance of choosing the right people for the fiduciary roles within your plan. The choices you make when appointing people to fiduciary roles can contribute to the success, or failure, or your estate plan. To help prevent you from making the wrong choices, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain fiduciary roles and offer some suggestions on how to pick them in your estate plan. What … [Read more...] about What Is Fiduciary Role and How Do I Pick My Fiduciaries?
