Although a Last Will and Testament typically acts as the foundation of an estate plan, most people find the need to incorporate additional documents and strategies as they expand their estate planning goals and objectives. A trust agreement is often one of these additions. If you are contemplating the addition of a trust agreement to your estate plan, you likely have several trust related questions. To help answer one of those questions, the Los Angeles attorneys at Schomer Law Group, APC … [Read more...] about Can I Still Access Assets Transferred into a Trust?
People often include a trust agreement in their overall estate plan because a trust can accomplish a wide range of goals, including asset protection, incapacity planning, and protecting the inheritance of a minor child. If you establish a trust, you will be required to appoint a Trustee to oversee the administration of the trust. What about a trust protector though? The Los Angeles attorneys at Schomer Law Group, APC explain the role of a trust protector and help you decide if you need one for … [Read more...] about Does My California Trust Need a Trust Protector?
While most estate plans begin with the execution of a Last Will and Testament, the average plan will continue to grow through the addition of various estate planning tools and strategies. Among the most popular of those additions is a trust agreement. In fact, it is not uncommon to have several trusts within a comprehensive estate plan. Given the popularity of trust agreements, the Los Angeles trust attorneys at Schomer Law Group, APC discuss California trust laws to help you better understand … [Read more...] about California Trust Laws: What Is Required to Create a Valid Trust?
Many people choose to include at least one trust agreement within their comprehensive estate plan. If you are among them, you will need to decide what type of trust to create, a decision that should only be made with the advice and guidance of your estate planning attorney. If you ultimately decide to establish an irrevocable living trust, you need to understand what that means. To explain better, the Los Angeles trust attorneys at Schomer Law Group, APC explain whether an irrevocable trust can … [Read more...] about Can an Irrevocable Trust Be Modified or Terminated in California?
A trust agreement is a popular estate planning tool that can be used to pass down assets to loved ones, charities, or even to a family pet. If you recently learned that you are the beneficiary of a trust, you probably have several questions about how the trust works and how it terminates. Because every trust agreement is unique, it is always best to consult with an experienced trust attorney about the terms of your trust agreement. In the meantime, the Los Angeles trust attorneys at Schomer Law … [Read more...] about How Long Does a Trust Last?
There is more than one way to plan for the distribution of your estate assets after you are gone. The simplest way is to execute a Last Will and Testament that gifts all your assets to the named beneficiaries. Sometimes, however, making outright gifts in a Will is not the best option. In that case, you may decide to incorporate a testamentary trust into your estate plan. The Los Angeles trust attorneys at Schomer Law Group, APC explain how a testamentary trust works and why you might want to … [Read more...] about How Does a Testamentary Trust Work?
Having at least a basic estate plan in place is important for every adult. If you are the parent of a young child, however, the need for careful estate planning is heightened. Your minor child cannot manage his/her own inheritance. Therefore, you must choose someone to protect the inheritance you leave behind for your child. With that in mind, the Los Angeles trust attorneys at Schomer Law Group, APC help you choose the right person to protect your child’s inheritance. How Will You Pass Down … [Read more...] about Who Should I Choose to Protect My Child’s Inheritance?
Many people choose to incorporate at least one trust agreement into their comprehensive estate plan. If you are married, you may benefit from the addition of a QTIP or QDOT trust. To help you decide which one is right for you, the Los Angeles trust attorneys at Schomer Law Group, APC discuss the difference between a QTIP and QDOT trust. What Is a Qualified Terminable Interest Property (QTIP) Trust? Any married couple can make use of a QTIP trust; however, it is most often used to handle … [Read more...] about QTIP and QDOT: What Is the Difference?
Although a Last Will and Testament often serves as the foundation of an estate plan, a trust agreement is frequently added to an estate plan as life changes require that estate plan to grow and expand. A trust can help you accomplish a wide range of estate planning goals and objectives; however, your trust will only be successful if you appoint the right Trustee. With that in mind, the Los Angeles trust attorneys at Schomer Law Group, APC discuss what happens when you appoint the wrong … [Read more...] about What Happens When You Appoint the Wrong Trustee?
For a trust beneficiary, the receipt of a “Crummey notice” can be confusing, leaving the beneficiary unsure of what to do next. Most beneficiaries assume there is an important reason behind the notice that should spur action on their part. Typically, this is not the case. The Los Angeles trust administration attorneys at Schomer Law Group, APC explain what a Crummey notice is and what you should do if you receive one. Trust Administration Basics Trusts are broadly divided into testamentary … [Read more...] about What Is a Crummey Notice?