Estate planning involves making important decisions that will grow increasingly complex and difficult as your plan grows and expands. While your initial estate plan may be rather simplistic, it will likely grow more complex as your estate and your family grow. One of the decisions you may eventually need to make is whether to use a living trust as the primary method of distributing your estate assets. The Los Angeles trust attorneys at Schomer Law Group, APC discuss common reasons why you might … [Read more...] about Why Should I Use a Living Trust to Distribute My Estate?
Trust
Why Would I Want to Make a Trust Irrevocable?
As your estate plan grows and expands, there is a good chance you will include at least one trust in that plan. One of the decisions you will need to make if you establish a trust is whether to create a revocable or irrevocable trust. As the name implies, an irrevocable living trust is one that cannot be modified or revoked by the Settlor once the trust is established. Understandably, you may be hesitant to create a trust that you cannot modify or terminate; however, sometimes doing so is … [Read more...] about Why Would I Want to Make a Trust Irrevocable?
What an In Terrerem Clause Can Do for You
Estate Planning practitioners field questions regarding disinheriting beneficiaries regularly. The second question often relates to what happens when that beneficiary or any other tries to have the estate plan or portions thereof overturned. An “in terrorem” or “no contest” clause usually acts as a deterrent to such beneficiaries by completing divesting them of their inheritance should they choose to initiate a lawsuit. Read on to learn more … [Read more...] about What an In Terrerem Clause Can Do for You
