The holidays are a great time to review the past year and make plans for the upcoming one. Part of those plans should be reviewing your Estate Plan and considering what, if any, steps you should take to help you achieve your goals. One of the easiest, but most overlooked, ways to do some quick planning is to take advantage of the annual per donee exclusion amount which can have a tremendous impact on reducing the estate without use of the applicable exclusion amount. Read on to learn more. … [Read more...] about Don’t Be a Turkey – Take Advantage of Your Annual Per Donee Exclusion Amount
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Segundas Nupcias y Su Plan de Sucesión
Si está casado, un enfoque importante de su plan patrimonial es probablemente garantizar que su cónyuge esté protegido financieramente en caso de su muerte. Si tienen hijos juntos, es probable que planifiquen que sus activos patrimoniales combinados se transmitan a sus hijos después de que ambos se hayan ido. ¿Qué sucede, sin embargo, si mueres a una edad relativamente joven y tu cónyuge se vuelve a casar? ¿Los activos que destinó a sus hijos estarán seguros? Los abogados de planificación … [Read more...] about Segundas Nupcias y Su Plan de Sucesión
7 Ways an Estate Planning Attorney Can Help You
When you think about the need for an estate planning attorney, you undoubtedly think about creating or revising an estate plan that determines how your estate assets are distributed after you are gone. While an estate planning attorney certainly can help you with that, there are numerous other ways in which an estate planning attorney can help you. The Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors explain seven ways in which an estate planning attorney might be able … [Read more...] about 7 Ways an Estate Planning Attorney Can Help You
Remarriage and Your Estate Plan
If you are married, an important focus of your estate plan is likely ensuring that your spouse is financially protected in the event of your death. If you have children together, you likely plan for your combined estate assets to be passed down to your children after you are both gone. What happens, however, if you die at a relatively young age and your spouse remarries? Will the assets you intended for your children be safe? The Los Angeles estate planning attorneys at Schomer Estate & Wealth … [Read more...] about Remarriage and Your Estate Plan
Do I Need an Advance Directive?
Your estate plan should protect you and your assets while you are alive as well as arrange for how those assets are distributed after you are gone. Making sure that your wishes are honored regarding healthcare decisions that may need to be made in the future is one way your estate plan can help protect you. Toward that end, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors explain why you should consider adding an advance directive to your estate plan. What Is an … [Read more...] about Do I Need an Advance Directive?
What Is a “No-Contest” Clause in a Last Will and Testament?
Creating a Last Will and Testament is your opportunity to decide precisely what happens to your estate assets after death. In most instances, that is exactly what happens. Sometimes, however, a challenge to the validity of the Will is filed. If the contestant is successful with that challenge, the Will is declared invalid, and the estate is probated using the relevant state intestate succession laws. If the contestant is not successful, the probate of the estate continues using the Will … [Read more...] about What Is a “No-Contest” Clause in a Last Will and Testament?
5 Preguntas que Debe Hacerse al Crear un Plan Patrimonial
Crear un plan patrimonial puede ser una perspectiva intimidante para la mayoría de las personas dada la importancia del producto final. No ayuda que la mayoría de las herramientas y estrategias utilizadas en un plan patrimonial sean desconocidas para la persona promedio. Una cosa que puede ayudar a que el proceso de planificación patrimonial sea menos desalentador es reducir su enfoque a las cosas más importantes en un plan patrimonial inicial. Con ese fin, los abogados de planificación … [Read more...] about 5 Preguntas que Debe Hacerse al Crear un Plan Patrimonial
The Benefits of Creating a Secret Trust
While every estate plan should be tailored to the unique needs of the person creating the plan, there are some common components found in the average plan. A trust, for example, is among the most popular of all estate planning tools, but why would you want your trust to be a secret trust? The Los Angeles trust attorneys at Schomer Estate & Wealth Advisors explain the benefits of creating a secret trust. Your Last Will and Testament At its most basic, a Last Will and Testament is a … [Read more...] about The Benefits of Creating a Secret Trust
Common Types of Trusts Explained
If you are considering the use of a trust in your estate plan, deciding on which type of trust is best for your needs and goals is the first step toward incorporating a trust into your plan. Although it is always best to consult with an experienced trust attorney before you decide what type of trust you need, it may also be beneficial to learn more about the different types of trusts available and the goals they are typically used to accomplish. Toward that end, the Los Angeles trust attorneys … [Read more...] about Common Types of Trusts Explained
Trust Myths Debunked
A comprehensive estate plan will typically include a wide range of estate planning tools and strategies that work together to achieve your estate planning goals. Although a Last Will and Testament often serves as the foundation of an estate plan, another common tool found in the average estate plan is a trust agreement. Unfortunately, there are several myths and misconceptions people share about trusts that often cause them to shy away from considering a trust for their estate plan. To make sure … [Read more...] about Trust Myths Debunked
