Will

Creating an estate plan allows you to determine who will inherit your assets when you pass away. Many people use a Last Will and Testament to specify how their estate will be distributed. In most cases, a married individual leaves some or all their assets to their spouse. However, what if you want to exclude your spouse from your Will entirely? Can you legally disinherit your spouse in California? The Los Angeles attorneys at Schomer Estate & Wealth Advisors discuss why it is not always simple … [Read more...] about Can I Disinherit My Spouse in California?

Most people know what a Last Will and Testament is – and have hopefully executed one. Confusions exists, however, when it comes to understanding the purpose and need for a Living Will. A Will and a Living Will are not the same thing. In fact, while both should be included in a comprehensive estate plan, they perform distinct and different roles within your estate plan. To help clear up the confusion, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain what you need to know … [Read more...] about 7 Things You Should Know about Living Wills

Ensuring that your final wishes are honored was likely a primary motivation for the creation of your Last Will and Testament. For your plan to work as intended, however, the terms of your Will must be honored. That means that minimizing disputes and discouraging a Will contest should also be among your estate planning goals. To help you understand, the Los Angeles attorneys at Schomer Estate & Wealth Advisors discuss common steps you can take to help prevent a California Will contest. Can … [Read more...] about Steps You Can Take to Help Prevent a California Will Contest

Creating a Last Will and Testament is an essential step in ensuring that your wishes are honored, and your loved ones are cared for after your death. Mistakes made in the process, however, can lead to complications, delays, or disputes during the probate of your estate. To help avoid such unwanted outcomes, the Los Angeles attorneys at Schomer Estate & Wealth Advisors discuss the top seven mistakes people make when creating a Last Will and Testament. Avoiding these common mistakes when … [Read more...] about Top 7 Mistakes People Make When Creating a Last Will and Testament

When creating your Last Will and Testament in California, one of the most important decisions you will make is who to appoint as your Executor. The Executor plays a critical role in carrying out the instructions in your Will, ensuring that your estate is managed and distributed according to your wishes. Understanding the duties and responsibilities of an Executor, as well as the qualities to look for when selecting one, can help you make an informed decision that benefits your estate and … [Read more...] about Who Should I Appoint to Be the Executor in My California Last Will and Testament?

Within the often-complex realm of estate planning, drafting a Will stands as a pivotal document to ensure the smooth transfer of assets and the realization of your final wishes. The process doesn't culminate with the signing of your Will though. It extends to safeguarding its validity and integrity against potential challenges. In California, where estate laws can be complex, understanding the dynamics of Will contests becomes imperative. To help ensure that your Will works as intended, the Los … [Read more...] about Can I Prevent a Challenge to My California Will?

Four out of ten Americans believe they do not require a Last Will and Testament, despite recognizing the significance of estate planning. Caring.com's annual Wills and Estate Planning Study unveils insights into this paradox, revealing that 40 percent of respondents feel their assets are not substantial enough to justify creating a Will. The Los Angeles attorneys at Schomer Estate & Wealth Advisors delve into further findings from the survey, emphasizing the necessity of having a Will regardless … [Read more...] about Survey Shows Many Americans Do Not Think They Need a Will

Having at least a basic estate plan in place can be thought of as a gift you give to your loved ones and to yourself. To understand why an estate plan is a gift, however, it helps to have a better understanding of what happens if you die without one in place. Toward that end, the Los Angeles attorneys at Schomer Estate & Wealth Advisors discuss 10 reasons to avoid dying intestate. Why Does It Matter If I Die Intestate? When someone passes away without a Last Will and Testament (or trust … [Read more...] about 10 Reasons to Avoid Dying Intestate

For many individuals engaged in estate planning, the primary focus is often on how their assets will be distributed after death. While you may fall into this category, you may also harbor concerns about the fate of the debts you leave behind. Specifically, you may be concerned that your adult children could inherit your debts instead of your assets. To assist you in planning effectively, the Los Angeles attorneys at Schomer Estate & Wealth Advisors help answer the question “Will my kids inherit … [Read more...] about Will My Kids Inherit My Debts When I Pass Away?

Although most people start with a Last Will and Testament when they create their initial estate plan, it is not uncommon to add to that Will as a family and/or estate grows. In fact, many people eventually choose to use a trust agreement as the primary method for distributing their estate after they pass away because of the numerous advantages a trust offers. If you choose to use a trust to distribute your estate, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain why you … [Read more...] about What Is a Pour-Over Will and Do I Need One?