General

Families in the 21st century are often made up of second marriages, long-term partnerships, and children from prior relationships. When you build a life within a blended family, you create meaningful bonds that do not always align neatly with default inheritance laws. Without deliberate estate planning, the people you love can find themselves in conflict after your death. In California, where property rights and probate rules carry specific statutory nuances, careful planning is essential if you … [Read more...] about Blended Families and Inheritance Conflicts in California

Contemplating the practical consequences of your own death is not easy, though it remains one of the most responsible steps you can take when developing a comprehensive estate plan. When you understand what your family will face in the first hours, days, and weeks following your passing, you can organize documents, clarify your wishes, and select trusted individuals to carry out important responsibilities. Advance preparation spares loved ones from unnecessary confusion and conflict during a … [Read more...] about What Happens Immediately After a Death in California?

While few people enjoy discussing death, planning for your funeral in advance is a wise and compassionate act. Doing so can protect your loved ones from the emotional and financial pressure that often arises after a death. Making arrangements ahead of time ensures that your preferences are honored, reduces the likelihood of family disputes, and allows you to control the costs associated with a funeral. Whether you are organizing plans for yourself or have been tasked with planning for someone … [Read more...] about Understanding the Importance of Funeral Planning

While every American owes a great deal of gratitude to veterans and their families, it is impossible to fully repay this debt. The government, however, offers several benefits to veterans, including the lesser-known Veterans Aid & Attendance (VA&A) program, which provides financial aid for those in need of care. To ensure you are receiving all the benefits you deserve the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain qualifying for Veterans Aid & Attendance in … [Read more...] about Qualifying for Veterans Aid & Attendance Benefits in California

When someone passes away without a Will or trust, their estate is distributed based on California’s intestate succession laws. Family members and loved ones often have questions about what happens when someone dies intestate. While every case is unique, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain some essential facts that you should know to help you understand the process and procedures that apply when a person dies intestate in California. Understanding … [Read more...] about California Intestate Facts You Should Know

Navigating the legal and financial responsibilities that follow the death of a loved one can add to the stress of what is already an emotionally challenging experience. If you are an heir, understanding the legal process is critical, however, to ensuring a smooth transfer of assets and resolving any potential questions. With that in mind, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain the top five things an heir needs to know when a loved one passes away in … [Read more...] about Top 5 Things an Heir Needs to Know When a Loved One Passes Away in California

Losing the ability to work due to a disability can disrupt your financial stability and impact your family's well-being. Whether caused by a physical or mental condition, such an event can occur at any stage of life. Fortunately, two federal programs, Supplemental Security Income (SSI) and Social Security Disability Insurance (SSDI), may be able to help. While both programs aim to provide financial relief, they differ in their eligibility requirements and benefits. To help you better understand … [Read more...] about Understanding the Difference between SSI and SSDI

As we reach the end of 2024, many of us are contemplating holiday gifts for family, friends, and charities. While doing so, it is wise to consider making use of the yearly exclusion for estate tax purposes as well. Also referred to as the annual “gift tax exclusion,” the yearly exclusion allows you to make gifts valued at up to $18,000 (as of 2024) each year to as many recipients as you wish without triggering federal gift taxes or using any of your lifetime estate and gift tax exemption. The … [Read more...] about Maximizing Your Yearly Exclusion Before Year’s End

A trust is among the most popular additions to a well thought out and comprehensive estate plan. When creating a trust, one of the key decisions you will need to make is how much discretion to grant your Trustee. The Trustee plays a vital role in managing and distributing the trust assets, but the amount of authority they have can vary widely. Working with an experienced trust attorney is the best way to create a successful trust. It may help, however, to consider the issue of Trustee discretion … [Read more...] about How Much Discretion Should a Trustee Have?

While you cannot completely shield your loved ones from the emotional impact of your death, you can reduce their burden by including a funeral planning component in your comprehensive estate plan. As part of that plan, you may have considered pre-paying for your funeral and burial through a contract with a local funeral home. Although this option may seem like a good way to ease the burden on your loved ones, it is important to understand the potential drawbacks. Toward that end, the Los Angeles … [Read more...] about Is A Pre-Paid Funeral Contract a Good Idea?