Like many Americans, you may have started planning for your “Golden Years” when you began your first “real” job and have been planning and saving ever since. If you are now nearing retirement, or have already entered your retirement years, you may be worried that despite your best efforts, your retirement savings won’t stretch far enough. In short, you are concerned that the money will expire before you do. If you find yourself in this predicament, the Los Angeles attorneys at Schomer Estate & … [Read more...] about What Is a Qualified Longevity Annuity Contract?
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The Truth about Elder Abuse in California
The population of older Americans has exploded in recent decades, leading to a corresponding increase in the prevalence of elder abuse and neglect. While you are likely aware that elder abuse occurs, you may not know how often it happens or what to do if you suspect that an elderly loved one is the victim of elder abuse or neglect. To help keep your loved ones safe, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain the trust about elder abuse in California and offer … [Read more...] about The Truth about Elder Abuse in California
Is a Survivor’s Trust Right for My California Estate Plan?
Although most estate plans begin with the execution of a Last Will and Testament, it is common to add to that initial estate plan over time. One of the most common additions to an estate plan is a trust agreement. The type of trust agreement you include in your estate plan will depend on the purpose or goal of the trust. If you are married, for example, you might include a survivor’s trust in your plan. The Los Angeles attorneys at Schomer Estate & Wealth Advisors discuss whether a survivor’s … [Read more...] about Is a Survivor’s Trust Right for My California Estate Plan?
The Importance of Reviewing Beneficiaries and Fiduciaries
Creating an initial estate plan is only the first step in protecting and providing for your loved ones. Much like the proverbial flower garden, an estate plan must be tended to for it to survive and function as intended. One crucial way to do that is to make sure that your beneficiary and fiduciary designations are up to date. Toward that end, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain the importance of reviewing beneficiaries and fiduciaries in your estate … [Read more...] about The Importance of Reviewing Beneficiaries and Fiduciaries
How Do I Make Changes to My Estate Plan?
Crafting a comprehensive estate plan should be a top priority to ensure both your personal well-being and the financial security of your loved ones. A meticulously designed estate plan serves the dual purpose of safeguarding your assets while fostering their growth throughout your lifetime, all while providing assurance that your loved ones will remain financially secure if something happens to you. If you've already established an estate plan, you are ahead of most Americans. At some point, … [Read more...] about How Do I Make Changes to My Estate Plan?
Avoiding Probate in California: Why Should It Be an Estate Planning Goal?
You have probably heard people talking about avoiding probate and the steps they have taken in their estate plans to accomplish this goal. All the while you are wondering what the big deal is with probate. Why is it so important to avoid probate? Why is everyone going to so much trouble to avoid probate? These are all valid – and common – questions. To help answer these questions, the Los Angeles attorneys at Schomer Estate & Wealth Advisors explain why avoiding probate in California should be … [Read more...] about Avoiding Probate in California: Why Should It Be an Estate Planning Goal?
Red Flags That Might Indicate Your Parent’s Executor Needs to Be Replaced
The death of a parent is not easy to handle, even if the death is anticipated. The legal process that follows, referred to as “probate,” is often the last thing anyone wants to deal with; however, it is necessary to properly account for the decedent’s assets and distribute those assets to the intended beneficiaries. While probate can be frustrating under the best of conditions, it can be especially difficult when it appears that the Executor is not properly executing his/her duties and … [Read more...] about Red Flags That Might Indicate Your Parent’s Executor Needs to Be Replaced
How Can an Incentive Trust Help Me Achieve My Estate Planning Goals?
Although the primary goal of your estate plan may be to create a roadmap to be used to distribute your estate assets according to your wishes after you are gone, your estate plan can achieve so much more. For example, you may want to pass down more than just monetarily valuable assets to your loved ones. You may hope to also pass down life lessons and wisdom you have gained over the course of your lifetime. You may also hope to continue to guide your children and grandchildren after you are … [Read more...] about How Can an Incentive Trust Help Me Achieve My Estate Planning Goals?
How Do I Prove Undue Influence in a California Will Contest?
When a loved one passes away, one of the first practical steps that typically occurs is a search for the decedent’s Last Will and Testament. If one is located, the person named as the Executor of the Will files the original Will, along with other supporting documents, with the appropriate court to initiate the probate proceedings. If you believe that the Will submitted to probate is not valid, you may be entitled to contest the Will using one of several legal grounds on which a Will may be … [Read more...] about How Do I Prove Undue Influence in a California Will Contest?
National Make-a-Will Month
Although many Estate Plans have a Revocable Trust as the foundation for the plan, Wills play an important role in a comprehensive Estate Plan. Alarmingly, most Americans don’t have a Will even though they know it’s important. As National Make-a-Will month comes to a close, let’s explore the often overlooked and neglected Estate Planning document, the Will. Read on to learn more. … [Read more...] about National Make-a-Will Month
