As a small business owner, you have likely invested significant time, effort, and resources into building your enterprise. You have nurtured it from its inception, navigated through challenges, and celebrated its successes. Have you considered, however, what would happen to your business if something happened to you? This is why business succession planning is crucial for small business owners, as explained by the Los Angeles attorneys at Schomer Estate & Wealth Advisors. Benefits of Business … [Read more...] about Why Business Succession Planning is Crucial for Small Business Owners
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Meeting the Next Level in Minneapolis
The best Estate Planners stay current on the latest trends. The American Academy of Estate Planning Attorneys held its semi-annual conference providing education and learning for and inspiring excellence in its Members. Read on to learn more about the unique experience at the Spring Summit 2024 conference. Read on to learn more. … [Read more...] about Meeting the Next Level in Minneapolis
Courts Allowing More Flexible Trust Amendments
As much as I enjoy writing about celebrity Estate Planning gone wrong, and less often, right, occasionally, a court opinion catches my attention. That’s particularly true when the decision will have lasting implications for Estate Planning. This blog returns to the basic lessons about amending a Trust. In an increasingly litigious world, disgruntled beneficiaries feel emboldened to fight for what they think is theirs. It doesn’t always work out in their favor, especially when they base their … [Read more...] about Courts Allowing More Flexible Trust Amendments
Survey Shows Many Americans Do Not Think They Need a 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
Estate Planning for Travelers
Estate planning can be a complicated and challenging endeavor; however, a well-thought-out and comprehensive estate plan provides invaluable security for you and your loved ones. For those who frequently travel, estate planning takes on yet another level of complexity because you need to address specific considerations related to the needs of frequent travelers. To help get you started, the Los Angeles attorneys at Schomer Estate & Wealth Advisors offer some tips about estate planning for … [Read more...] about Estate Planning for Travelers
10 Reasons to Get Started on an Estate Plan
If you have yet to create an estate plan, you are hardly alone. Despite acknowledging the numerous benefits gained by having an estate plan in place, many Americans do not have one. Contemplating your own mortality and planning for the inevitable might seem daunting or even unnecessary. Estate planning, however, is not just about preparing for the end. A comprehensive estate plan is also about securing your legacy and ensuring your loved ones are taken care of in your absence, and making sure … [Read more...] about 10 Reasons to Get Started on an Estate Plan
Is a Business Trust Right for Your Estate Plan?
Creating a comprehensive and successful estate plan requires you to consider the unique goals and objectives that must be addressed when creating your plan. If you own a business, for example, your interest in the business should be protected within your estate plan. While there are a variety of ways to accomplish this goal, establishing a business trust is a popular option. Only an experienced estate planning attorney can help you decide how best to incorporate your business into your estate … [Read more...] about Is a Business Trust Right for Your Estate Plan?
10 Steps to Creating a Trust
A Last Will and Testament is the first estate planning document executed by the average person. If you already have a Will in place, that Will may continue to provide the foundation for your estate plan for the rest of your life; however, you will also likely incorporate additional strategies and documents into your comprehensive estate plan as you move through the stages of your life. Along the way, you may decide to add a trust to your overall estate plan. While you should always work closely … [Read more...] about 10 Steps to Creating a Trust
The Purple Onion…an ode to Tangible Personal Property
More than one estate has boiled down to a fight over tangible personal property. Sometimes even if it lacks monetary value, it holds tremendous emotional significance for the beneficiaries. Maybe they remember Mom wearing a string of fake pearls or the no-name watch that Dad wore with pride. Things become more heated; however, when tangible personal property has value. Passing it on to beneficiaries requires a plan both during life and after death. Read on to learn more. … [Read more...] about The Purple Onion…an ode to Tangible Personal Property
The “Juice” and an Executor’s Duties
Certain individuals have a knack for making headlines. Orenthal James Simpson was one of those people. He first made headlines for his talent on the football field. Later, he made them as an actor and broadcaster. In 1994, he made headlines when he was arrested for the murder of his former wife, Nicole Brown Simpson, and her friend, Ronald Goldman. Orenthal James Simpson died on April 10, 2024, and with his death, his presumed Executor made headlines, perhaps for the last time for the “Juice.” … [Read more...] about The “Juice” and an Executor’s Duties
