If you are caring for an aging parent or grandparent, you already understand how difficult it can be to provide quality care while still trying to focus on your own career and/or immediate family. A geriatric care manager may be the solution. To help you decide, the Los Angeles elder law attorneys at Schomer Law Group, APC explain how a geriatric care manager might be able to help you. Caregiver Facts and Figures If you are the primary caregiver for an elderly parent (or other loved one), … [Read more...] about How Can a Geriatric Care Manager Help Me?
BLOG
What Is a Senior Life Settlement?
As a retiree, you are likely hoping to enjoy your “Golden Years” without having to worry about finances. If you are concerned that may not be the case, your life insurance policy may be one potential source of financial assistance that you may not have considered. With that in mind, the Los Angeles elder law attorneys at Schomer Law Group, APC discuss the possibility of turning your life insurance into a senior life settlement. What Is a Senior Life Settlement? You have likely been paying … [Read more...] about What Is a Senior Life Settlement?
The IRS’ Annual Warning: The 2023 Dirty Dozen
As another tax season closes, it’s a good time to review the list of “Dirty Dozen” tax schemes published by the Internal Revenue Service for the year. Many of these schemes peak during tax time and involve fraudsters looking for ways to steal taxpayers’ money, personal information, and data. Attorneys can help their clients by alerting them to these scams and providing advice on how to avoid them. Read on to learn more. … [Read more...] about The IRS’ Annual Warning: The 2023 Dirty Dozen
The Joy in Joint Trusts
Joint trusts offer clients many benefits both during life and after death. Those with joint trusts need to understand the limitations inherent in the trust and the importance of seeking qualified counsel upon the death of the first spouse to ensure that the trust administration runs smoothly. A recent Michigan case highlights what happens when the surviving spouse fails to do that or simply ignores the terms of the trust altogether. Read on to learn more. … [Read more...] about The Joy in Joint Trusts
How Tax and Non-Tax Considerations Impact Estate Planning – Part II
People often believe that Estate Planning is a “simple” process designed only for those whose estates will exceed the Applicable Exclusion Amount of $12.92 million in 2023. That myopic view causes many who should undertake Estate Planning to skip it altogether or to look for ways to complete the planning on their own without the services of a qualified Estate Planning attorney. As the last article in this two-part series demonstrated, numerous taxes impact Estate Planning. This second part of … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part II
How Tax and Non-Tax Considerations Impact Estate Planning – Part I
Estate planning often focuses on taxes at the federal level and often overlooks issues that occur at the state level. For anyone desiring to undertake comprehensive estate planning, it’s important to understand the impact that the taxes imposed by the individual’s state of residence have on the plan as well as the character and type of assets allowed by the state. Estate Planning is complex and requires an expert in these matters to advise clients properly. Read on to learn more. … [Read more...] about How Tax and Non-Tax Considerations Impact Estate Planning – Part I
Should I Incorporate an ABLE Account into My Estate Plan?
For the parents or grandparents of a child with special needs, the importance of incorporating a special needs planning component into their comprehensive estate plan cannot be understated. While every special needs plan should be uniquely tailored to the needs of the client, a common component within these plans is an ABLE account. The Los Angeles special needs planning attorneys at Schomer Law Group, APC discuss whether you should incorporate an ABLE Account into your estate plan. Why Is … [Read more...] about Should I Incorporate an ABLE Account into My Estate Plan?
Benefits of Lifetime Gifting
An important part of any comprehensive estate plan is the distribution of estate assets. Sometimes that requires nothing more than a Last Will and Testament and/or a trust agreement that provides for the gifting of all estate assets upon their death. Lifetime gifting, however, can also be part of the overall distribution of assets in a comprehensive estate plan. Deciding whether to gift while you are alive or only after you are gone can be a difficult and complex decision. The Los Angeles estate … [Read more...] about Benefits of Lifetime Gifting
5 Common Estate Planning Myths Debunked
Most people recognize the importance of estate planning; however, those same people often fall victim to the numerous and varied myths and misconceptions about estate planning. To help ensure that you, your family, and your assets are protected, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain five common estate planning myths. Contact Los Angeles Estate Planning Attorneys For more information, please join us for an upcoming FREE seminar. If you have additional … [Read more...] about 5 Common Estate Planning Myths Debunked
Using a Charitable Gift Annuity to Make Gifts
For many people, charitable gifting is an important part of who they are and of the legacy they hope to leave behind when they are gone. If you are among them, incorporating your philanthropic goals into your estate plan is important. When doing so, you should maximize any secondary benefits that might be available to you. One charitable gifting tool you may wish to consider using is a charitable gift annuity. The Los Angeles estate planning attorneys at Schomer Law Group, APC explain how to use … [Read more...] about Using a Charitable Gift Annuity to Make Gifts
