As a trust beneficiary, you must count on the appointed Trustee to administer the trust faithfully and responsibly. This applies to everything from communications regarding trust business to distributions of trust assets to which you are entitled. While most Trustees do fulfill their trust administration duties honestly and without issue, it is possible for a problem to arise that causes a beneficiary to question the Trustee’s intentions or ability to successfully administer the trust. If you … [Read more...] about Understanding Your Rights as a Trust Beneficiary
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Types of Joint Ownership in California
At some point, you may decide to co-own property with a spouse, adult child, business partner, or someone else. If so, it is crucial that you title the property correctly because the way in which jointly owned property is titled will impact several important areas of your life. To elaborate, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors explain the different types of joint ownership in California. Co-Owning Property in California State law governs … [Read more...] about Types of Joint Ownership in California
Common Mistakes in Estate Planning – IV
With the proliferation of the internet has come a plethora of websites claiming that individuals may take a “Do It Yourself” approach to Estate Planning. While individuals may think that a plan created by one of these companies will meet their needs and save them money, the opposite is true. These plans often fail to contain necessary provisions and usually cost the family more in attorneys’ fees. In addition, a Trusts and Estate practitioner can alert a family to techniques designed to lower … [Read more...] about Common Mistakes in Estate Planning – IV
Common Mistakes in Estate Planning – Part III
Those who take the time to create an Estate Plan usually desire to keep it private and to ensure that no beneficiary can alter the plan after their death. Sometimes, the desire to maintain privacy backfires and produces unanticipated consequences, such as litigation. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part III
Common Mistakes in Estate Planning – Part II
When people think about an Estate Plan, they often have tunnel vision and focus on just a few of the many considerations that influence the plan. Most individuals focus on their assets and figuring out to whom they want those assets to pass. While those things matter, thinking about the intended beneficiary and their individual circumstances also matters. Certain types of beneficiaries require additional planning. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part II
Common Mistakes in Estate Planning – Part I
Despite knowing that they should have an estate plan, many individuals look for shortcuts to creating an Estate Plan. They rely upon advice from seemingly well-intentioned individuals that if avoiding probate is their main goal and they don’t have a taxable estate, they need not seek out an attorney to create an Estate Plan. While options exist to avoid probate, probate avoidance is just one of many considerations in creating an Estate Plan. Read on to learn more. … [Read more...] about Common Mistakes in Estate Planning – Part I
5 Questions to Ask Yourself When Creating an Estate Plan
Creating an estate plan can be an intimidating prospect for most people given the importance of the final product. It doesn’t help that most of the tools and strategies used in an estate plan are unfamiliar to the average person. One thing that can help make the estate planning process less daunting is narrowing your focus to the things most important in an initial estate plan. Toward that end, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors suggest five questions … [Read more...] about 5 Questions to Ask Yourself When Creating an Estate Plan
Can a Trust Be Contested?
While a Last Will and Testament remains the most used estate planning tool, a trust is not far behind in terms of popularity. Trusts are frequently included in a comprehensive estate plan for a wide variety of reasons, including the fact that a trust can help your estate avoid probate. Whether you are thinking about creating a trust, are responsible for administering a trust, or you are the beneficiary of a trust, you may wonder if a trust can be contested. Toward that end, the Los Angeles … [Read more...] about Can a Trust Be Contested?
Why You Should Include Funeral Planning in Your Estate Plan
Understandably, no one wants to spend too much time contemplating their own funeral and burial. Nevertheless, it is something you should spend some time doing to spare your loved ones from additional grief and to ensure that your wishes are honored. Toward that end, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors urge you to include funeral planning in your comprehensive estate plan. The Reality Is That Death Is Expensive Industry experts tell us that an … [Read more...] about Why You Should Include Funeral Planning in Your Estate Plan
Cómo Incluir la Planificación Heredada en Su Plan Patrimonial
Con suerte, ya sabe qué es la planificación patrimonial y por qué es importante tener un plan de sucesión; sin embargo, es posible que no sepa qué es la planificación heredada o por qué también puede querer incluirla en su plan de sucesión. La planificación del legado le permite incorporar sus ideales, creencias, valores y fe en sus esfuerzos de planificación patrimonial. En lugar de simplemente dejar atrás los activos, la planificación heredada le permite dejar atrás mucho más de … [Read more...] about Cómo Incluir la Planificación Heredada en Su Plan Patrimonial
