You are probably already familiar with the concept of a Power of Attorney. If you have not already, at some point you will likely create a Power of Attorney (POA) and/or be named as the Agent in a POA executed by someone else. Unfortunately, a Power of Attorney is also one of the most frequently abused legal documents. The Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors explain how much power is in a Power of Attorney. What Is a Power of Attorney? At its most … [Read more...] about How Much Power Is in a Power of Attorney?
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Educate Yourself for Alzheimer’s Awareness Month
Given the increasing prevalence of the disease, most of us know someone who is suffering from Alzheimer’s or who is helping care for someone with the disease. Nationally, the month of November is known as Alzheimer’s Disease Awareness Month. Recognizing the need for heightened awareness of this disease, President Ronald Reagan made this designation in 1983. With that in mind, the Los Angeles elder law attorneys at Schomer Estate & Wealth Advisors urge you to get involved and educate yourself … [Read more...] about Educate Yourself for Alzheimer’s Awareness Month
Estate Planning: 5 Things to Do Before You Die
A well-thought-out estate plan can a variety of inter-connected goals. Along with ensuring that your estate assets are distributed according to your wishes after you are gone, your estate plan can also do things such as plan for the possibility of incapacity, provide for minor children in your absence, and protect assets from all kinds of potential threats. Given the unique nature of estate planning, no two estate plans will be the same. Nevertheless, there are some estate planning documents … [Read more...] about Estate Planning: 5 Things to Do Before You Die
Is a Will Still Valid after a Divorce?
Divorce is both an emotional and a legal process. One goal of the legal part of a divorce is to legally divide the debts and assets of the marriage. One thing that divorcing couples often overlook during the divorce process is how that divorce impacts existing estate plans. When they do think about the ramifications of divorce on estate plans, either during or after a divorce, they start wondering if an ex-wife (or husband) is entitled to an inheritance after the divorce. To help clarify the … [Read more...] about Is a Will Still Valid after a Divorce?
Mes de la Herencia Hispana en Los Ángeles
Cada año, celebramos el Mes de la Herencia Hispana en Los Ángeles y en todo Estados Unidos del 15 de septiembre al 15 de octubre. Además de participar en los numerosos y variados festivales y actividades planeados para el Mes de la Herencia Hispana, los abogados de planificación patrimonial de Los Ángeles en Schomer Estate & Wealth Advisors lo alientan a crear o actualizar su plan de sucesión. ¿Qué es el Mes de la Herencia Hispana? El Mes de la Herencia Hispana comenzó en 1968 como … [Read more...] about Mes de la Herencia Hispana en Los Ángeles
Review Your Estate Plan During LGBT History Month
Every year in October, the LGBT community and its supporters celebrate LGBT History Month. If you will be among those who are celebrating the importance of LGBT history this October, you should also take the time to review and revise your estate plan. LGBT History Month reminds us that while great strides have been made in the fight for equality, protecting yourself, your assets, and your loved ones through comprehensive estate planning remains essential. The Los Angeles estate planning … [Read more...] about Review Your Estate Plan During LGBT History Month
The Intersection of Asset Protection Planning and Estate Planning – Part II
As part of the Estate Planning process, an attorney explores numerous topics with the client to help create a unique plan tailored to the client’s circumstances. Many estate plans use a trust as the centerpiece of the plan. Some clients want to explore asset protection and let the attorney know they want to consider offshore planning. Sometimes, offshore planning works, but often it causes additional issues. Read on to learn more. … [Read more...] about The Intersection of Asset Protection Planning and Estate Planning – Part II
The Intersection of Asset Protection Planning and Estate Planning – Part I
As part of the Estate Planning process, an attorney explores numerous topics with the client to help create a unique plan tailored to the client’s circumstances. Many estate plans use a trust as the centerpiece of the plan. Inevitably, clients want to understand the degree, if any, of asset protection that will result from the creation of a trust. There are numerous ways to achieve asset protection planning for a client. Read on to learn more. … [Read more...] about The Intersection of Asset Protection Planning and Estate Planning – Part I
The Inflation Reduction Act
President Biden scored a win on some issues, but a loss on others when he signed the Inflation Reduction Act into law. The legislation left the estate and gift tax alone and made modest changes to the income tax. The Act will have a significant impact on those on Medicare because of the cap on out-of-pocket prescription drug costs and insulin. Read on to learn more. … [Read more...] about The Inflation Reduction Act
What’s Estate Planning Got to do with Interest Rates – Part II
As interest rates continue to climb, Estate Planning practitioners look to different planning techniques to take advantage of rising rates. Two common estate planning techniques work well in higher-interest rate environments. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part II
