Anyone creating an Estate Plan wants to ensure that the plan will work as intended and will withstand legal challenges. Sometimes though, beneficiaries need to bring a legal contest to enforce the terms of the decedent’s plan and force fiduciaries to act in accordance with their duties. This article examines a recent court case that could have ended in a failure of the decedent’s Estate Plan. Read on to learn more. … [Read more...] about Litigation…a Necessary Evil?
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What the Trump Administration Could Mean for Your Estate Plan
Any time a new administration takes the Oval Office, clients call upon Estate Planning attorneys to provide assurances and guidance regarding what’s going to happen. As one administration leaves and another enters, many clients become nervous about the potential changes the incoming administration wants to make. With this new administration, the more things change, the more they stay the same. Read on to learn more. … [Read more...] about What the Trump Administration Could Mean for Your Estate Plan
Top 7 Mistakes People Make When Creating a Last Will and Testament
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
Estate Planning Strategies for Grandparents
For grandparents who want to leave a meaningful legacy, estate planning offers a unique opportunity to support their grandchildren while passing down both wealth and values. Beyond conventional approaches, there are strategic methods tailored to the specific goals of grandparents. If you are considering including your grandchildren in your estate plan, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain some estate planning strategies for grandparents to help you do so … [Read more...] about Estate Planning Strategies for Grandparents
Can a Trust Agreement Be Changed?
As your estate plan grows and becomes more comprehensive, incorporating a trust may help you achieve additional and ever-evolving estate planning goals. Over time, you may find it necessary to alter the terms of the trust you created. With that in mind, the Los Angeles attorneys at Schomer Estate & Wealth Advisors discuss whether a trust can be changed and what options are available to make changes to an existing trust. Understanding Trusts A trust is a legal agreement that allows you (the … [Read more...] about Can a Trust Agreement Be Changed?
What to Do When the Trustee of a Trust Passes Away
The death of a trustee can be a confusing and overwhelming time, especially when you are a beneficiary of a trust. Trustees are responsible for managing the assets within a trust and ensuring that the terms of the trust are carried out according to the wishes of the trustmaker. But what happens when the trustee passes away? This blog post will explain what to do when a trustee dies, how the trust administration process continues, and the steps to take in selecting a new trustee. How the … [Read more...] about What to Do When the Trustee of a Trust Passes Away
Understanding the Role of a Successor Trustee in Trust Administration
When it comes to estate planning, appointing a successor trustee is crucial for ensuring that your wishes are carried out after your passing or in the event you become incapacitated. The successor trustee plays a key role in managing and distributing assets within a trust, so it’s essential to understand their responsibilities and how they fit into your overall estate plan. In this blog post, we’ll explain what a successor trustee is, what their duties entail, and why it’s so important to … [Read more...] about Understanding the Role of a Successor Trustee in Trust Administration
How to Choose the Right Trustee for Your Estate Plan: A Complete Guide
Choosing the right trustee for your estate plan is one of the most important decisions you’ll make. The trustee is responsible for carrying out your wishes and ensuring that your assets are managed and distributed in accordance with your estate plan. Whether you’re setting up a revocable living trust or another type of trust, selecting the right person or institution for the role can make all the difference in the smooth administration of your estate. In this blog post, we’ll walk you through … [Read more...] about How to Choose the Right Trustee for Your Estate Plan: A Complete Guide
How to Handle Disputes in Trust Administration
Trust administration is often seen as a straightforward process, but disputes can arise that complicate the administration of a trust. These disputes may occur between beneficiaries, trustees, or even third parties. While these conflicts are not uncommon, it’s essential to address them promptly and properly to ensure the trust is administered according to the decedent’s wishes. This blog post will guide you through common causes of trust disputes, how to address them, and how to prevent these … [Read more...] about How to Handle Disputes in Trust Administration
Trustee Responsibilities in the Distribution of Trust Assets: A Complete Guide
As a trustee, your role is crucial in ensuring that the assets in a trust are distributed according to the decedent’s wishes. This is one of the most important tasks of trust administration, and it requires careful attention to detail, a clear understanding of the trust document, and an ability to handle potential conflicts that may arise among beneficiaries. In this blog post, we’ll explore the key responsibilities of a trustee when distributing trust assets, the common challenges trustees … [Read more...] about Trustee Responsibilities in the Distribution of Trust Assets: A Complete Guide
