Trust

While every estate plan should be tailored to the unique needs of the person creating the plan, there are some common components found in the average plan. A trust, for example, is among the most popular of all estate planning tools, but why would you want your trust to be a secret trust?  The Los Angeles trust attorneys at Schomer Law Group, APC explain the benefits of creating a secret trust. Your Last Will and Testament At its most basic, a Last Will and Testament is a legal … [Read more...] about The Benefits of Creating a Secret Trust

If you are considering the use of a trust in your estate plan, deciding on which type of trust is best for your needs and goals is the first step toward incorporating a trust into your plan. Although it is always best to consult with an experienced trust attorney before you decide what type of trust you need, it may also be beneficial to learn more about the different types of trusts available and the goals they are typically used to accomplish. Toward that end, the Los Angeles trust attorneys … [Read more...] about Common Types of Trusts Explained

A comprehensive estate plan will typically include a wide range of estate planning tools and strategies that work together to achieve your estate planning goals. Although a Last Will and Testament often serves as the foundation of an estate plan, another common tool found in the average estate plan is a trust agreement. Unfortunately, there are several myths and misconceptions people share about trusts that often cause them to shy away from considering a trust for their estate plan. To make sure … [Read more...] about Trust Myths Debunked

As a trust beneficiary, you must count on the appointed Trustee to administer the trust faithfully and responsibly. This applies to everything from communications regarding trust business to distributions of trust assets to which you are entitled. While most Trustees do fulfill their trust administration duties honestly and without issue, it is possible for a problem to arise that causes a beneficiary to question the Trustee’s intentions or ability to successfully administer the trust. If you … [Read more...] about Understanding Your Rights as a Trust Beneficiary

While a Last Will and Testament remains the most used estate planning tool, a trust is not far behind in terms of popularity. Trusts are frequently included in a comprehensive estate plan for a wide variety of reasons, including the fact that a trust can help your estate avoid probate. Whether you are thinking about creating a trust, are responsible for administering a trust, or you are the beneficiary of a trust, you may wonder if a trust can be contested. Toward that end, the Los Angeles … [Read more...] about Can a Trust Be Contested?

Over the course of your lifetime, you will likely review and revise your estate plan several times. Each time you revise your plan you may add new estate planning tools and strategies to address your growing family and estate. One of the most common of those tools is a living trust. To help you to decide if a living trust is right for you, the Los Angeles trust attorneys at Schomer Law Group, APC discuss the top seven benefits of including a living trust in your estate plan. What Is a Living … [Read more...] about Top 7 Benefits of Including a Living Trust in Your Estate Plan

Appointing the right person to be the Trustee of a trust you establish is every bit as important as properly drafting the trust agreement. Because a Trustee holds a fiduciary position during the administration of the trust, the Trustee has a considerable amount of power and authority. If a Trustee violates his/her fiduciary duty it can cause the trust to fail. As the Los Angeles trust administration attorneys at Schomer Law Group, APC explain, self-dealing by a Trustee is one way that fiduciary … [Read more...] about What Is Self-Dealing by a Trustee?

Every trust must have a Trustee, appointed by the Settlor (creator of the trust), whose job is to administer the trust. What happens, however, if a Trustee fails to do his/her job well? Can a Trustee be fired? If so, who has the authority to have a Trustee removed (fired)? To shed some light on the subject, the Los Angeles trust administration attorneys at Schomer Law Group, APC explains when and how a Trustee can be fired. Why Might You Want to Remove a Trustee? Settlors may fail to … [Read more...] about Can a Trustee Be Fired?

As both your estate and your family grow, so will your estate plan through the addition of estate planning tools and strategies that can help accomplish additional goals. One of the most common of those additional tools is a trust agreement. If you create a trust, someone must administer that trust. The Los Angeles trust attorneys at Schomer Law Group, APC discuss the issue of Trustee compensation for anyone considering the addition of a trust to their estate plan. What Does a Trustee … [Read more...] about Does a Trustee Get Paid for Administering a Trust?

La planificación patrimonial implica tomar decisiones importantes que se volverán cada vez más complejas y difíciles a medida que su plan crezca y se expanda. Si bien su plan de sucesión inicial puede ser bastante simplista, es probable que se vuelva más complejo a medida que su patrimonio y su familia crezcan. Una de las decisiones que eventualmente deba tomar es si usar un fideicomiso en vida como el método principal de distribución de sus activos patrimoniales. Los abogados de fideicomisos de … [Read more...] about ¿Por Qué Debería Usar un Fideicomiso en Vida para Distribuir Mi Patrimonio?