Although many people choose to incorporate a trust agreement into their estate plan, a Last Will and Testament continues to serve as the foundation for most estate plans. The Will you drafted even a few short years ago, however, may not cover your current circumstances, meaning you may need to make changes to your Will. With that in mind, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss how to amend your Last Will and Testament. Last Will and Testament Basics A … [Read more...] about How Do I Amend My Last Will and Testament?
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Should I Create an Ethical Will?
You likely know what a Last Will and Testament is and have probably included one in your estate plan. Your Will allows you to decide how your estate assets are distributed after you are gone. Many people, however, want to pass down more than just assets. For that, you may wish to consider creating an Ethical Will. For those who are unfamiliar with the term, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain what an Ethical Will is and why you might want to include one in … [Read more...] about Should I Create an Ethical Will?
¿Sigue Siendo Válido un Testamento Después de un Divorcio?
El divorcio es tanto un proceso emocional como legal. Uno de los objetivos de la parte legal de un divorcio es dividir legalmente las deudas y los activos del matrimonio. Una cosa que las parejas que se divorcian a menudo pasan por alto durante el proceso de divorcio es cómo ese divorcio afecta los planes patrimoniales existentes. Cuando piensan en las ramificaciones del divorcio en los planes de sucesión, ya sea durante o después de un divorcio, comienzan a preguntarse si una exesposa (o … [Read more...] about ¿Sigue Siendo Válido un Testamento Después de un Divorcio?
Is a Will Still Valid after a Divorce?
Divorce is both an emotional and a legal process. One goal of the legal part of a divorce is to legally divide the debts and assets of the marriage. One thing that divorcing couples often overlook during the divorce process is how that divorce impacts existing estate plans. When they do think about the ramifications of divorce on estate plans, either during or after a divorce, they start wondering if an ex-wife (or husband) is entitled to an inheritance after the divorce. To help clarify the … [Read more...] about Is a Will Still Valid after a Divorce?
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