Crear su primer plan de sucesión puede ser una perspectiva emocionante, pero igualmente intimidante. Comprensiblemente, la mayoría de las personas no están familiarizadas con la terminología, las herramientas y las estrategias que intervienen en la planificación patrimonial. Saber qué esperar y cómo prepararse puede ayudar a que su experiencia inicial de planificación patrimonial sea beneficiosa y agradable. Con eso en mente, los abogados de planificación patrimonial de Los Ángeles en … [Read more...] about Cómo Crear Su Primer Plan Patrimonial
Estate Planning
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 Estate & Wealth Advisors explain common steps involved in creating your first estate … [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
Understanding Undue Influence – Part I
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
Death and Your Digital Footprint
As more and more individuals get comfortable in the digital world, Estate Planning has evolved to address the collection and transfer of digital assets. The widespread use of a legacy contact and password managers gives owners of digital content control in determining what happens to the digital information after they die. Read on to learn more. … [Read more...] about Death and Your Digital Footprint
Pondering Portability
The Internal Revenue Code grants spouses several tax benefits both during life and at death. Portability represents one of those benefits. Portability allows the surviving spouse to use the unused portion of the Applicable Exclusion Amount from their predeceased spouse. In Revenue Procedure 2022-32, the Internal Revenue Service extended the time during which a surviving spouse may elect portability without a Private Letter Ruling from two years to five years. Read on to learn more. … [Read more...] about Pondering Portability
What the Proposed Treasury Regulations Mean for Deductions Under Internal Revenue Code Section 2053
To determine a decedent’s taxable estate, the Internal Revenue Code allows the decedent’s estate to utilize several deductions in various Code Sections, including Section 2053. The Treasury Regulations associated with Section 2053 were favorable to the taxpayer and contained broad language regarding the deductibility of claims and expenses. Recently, the Internal Revenue Service promulgated Proposed Treasury Regulations that would narrow the benefit of taking certain deductions to an estate. … [Read more...] about What the Proposed Treasury Regulations Mean for Deductions Under Internal Revenue Code Section 2053
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 Estate & Wealth Advisors discuss … [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?
When Should I Update My Estate Plan?
Creating a comprehensive estate plan is one of the most important things you can do for both yourself and your loved ones. A well thought out estate plan should protect your assets and help them grow over the course of your lifetime as well as ensure that your loved ones are financially secure if you die or become incapacitated. If you have an estate plan in place already, you off to a good start; however, you cannot stop there. Updating your estate plan is as important (if not more important) … [Read more...] about When Should I Update My Estate Plan?
