Each year, we celebrate Hispanic Heritage Month in Los Angeles and throughout the United States from September 15 through October 15th. Along with partaking in the numerous and varied festivals and activities planned for Hispanic Heritage Month, the Los Angeles estate planning attorneys at Schomer Law Group, APC encourage you to create or update your estate plan. What Is Hispanic Heritage Month? Hispanic Heritage Month began in 1968 as Hispanic Heritage Week under President Lyndon Johnson … [Read more...] about Hispanic Heritage Month in Los Angeles
Deciding how your assets will be distributed after you are gone is certainly an important estate planning goal; however, it should not be the only goal. Among the other important considerations in your estate plan should be the impact state and federal taxes, including gifts and estate and inheritance taxes, will have on your estate. Not only do you need to know what taxes will be incurred, but you should also consider how they will be paid and who will be responsible for paying them. With that … [Read more...] about How Can a Tax Apportionment Clause Benefit My Estate Plan?
People in the U.S. are fortunate to have a longer average life expectancy than people in most other countries. Living longer, however, comes at a price. It often means spending more time battling the aging process and increases the odds of needing a caregiver or nursing home. If you find yourself headed toward the need for a caregiver, your initial preference is probably to have a family caregiver take care of you at home. While this is certainly understandable, the Los Angeles elder law … [Read more...] about Why a Family Caregiver Is Not Always the Best Option
Crear su primer plan de sucesión puede ser una perspectiva emocionante, pero igualmente intimidante. Comprensiblemente, la mayoría de las personas no están familiarizadas con la terminología, las herramientas y las estrategias que intervienen en la planificación patrimonial. Saber qué esperar y cómo prepararse puede ayudar a que su experiencia inicial de planificación patrimonial sea beneficiosa y agradable. Con eso en mente, los abogados de planificación patrimonial de Los Ángeles en … [Read more...] about Cómo Crear Su Primer Plan Patrimonial￼
Acquiring assets is undoubtedly part of your overall estate plan; however, simply amassing assets without taking steps to protect those assets can cause the most well-drafted estate plan to fail. One way to protect assets is through the creation of an asset protection trust. With that in mind, the Los Angeles trust attorneys at Schomer Law Group, APC explain what you should know about asset protection trusts. Common Types of Asset Protection Trusts Domestic Asset Protection Trusts. As the … [Read more...] about What You Should Know about Asset Protection Trusts
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?
Creating your first estate plan can be an exciting, yet equally intimidating, prospect. Understandably, most people are unfamiliar with the terminology, tools, and strategies that go into estate planning. Knowing what to expect and how to prepare can help your initial estate planning experience be both beneficial and enjoyable. With that in mind, the Los Angeles estate planning attorneys at Schomer Law Group, APC explain common steps involved in creating your first estate plan. Consult with … [Read more...] about How to Create Your First Estate Plan
Many factors will impact how comfortable you are when you retire. While the amount of money you managed to save is certainly one of those factors, where you spend your retirement years is also a significant factor. Many retirees move outside of the United States to make their retirement savings worth more. If you are considering retiring abroad, the Los Angeles estate planning attorneys at Schomer Law Group, APC share the 2022 Global Retirement Index top five list. What Is the Global … [Read more...] about 2022 Global Retirement Index Top 5 List
A trust beneficiary has a legal ownership interest in the assets held by the trust. The trust terms will dictate when the beneficiary is entitled to receive distributions from the trust and in what amount. Sometimes, however, a beneficiary needs (or wants) the value of his/her interest in the trust prior to the scheduled distribution. The Los Angeles trust administration attorneys at Schomer Law Group, APC discuss whether a beneficiary can sell his/her interest in a trust. Trust … [Read more...] about Can a Beneficiary’s Interest in a Trust Be Sold?
Whenever a client’s Estate Plan deviates from the expected disposition, it raises questions for the slighted beneficiaries. These questions usually revolve around methods to have the plan overturned. Most states give clients tools to protect their carefully crafted plans, even after their death. Read on to learn more. … [Read more...] about Understanding Undue Influence – Part II