Interest rates were at historic lows for many years. Those rates have begun to rise in recent months and may continue to do so. Practitioners need to monitor interest rates in order to advise clients regarding the most effective Estate Planning strategies in any environment. Read on to learn more. … [Read more...] about What’s Estate Planning Got to do with Interest Rates – Part I
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What Is a Bequest vs. an Inheritance?
Like most areas of the law, estate planning includes concepts and legal jargon with which the average person is unfamiliar. For example, the words “bequest” and “inheritance” are often used interchangeably when, in fact, they are not always synonymous. To help you understand both terms, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors explain the difference between a bequest and an inheritance. What Is an “Inheritance?” While it may sound like the answer to one … [Read more...] about What Is a Bequest vs. an Inheritance?
Hispanic Heritage Month in Los Angeles
Each year, we celebrate Hispanic Heritage Month in Los Angeles and throughout the United States from September 15 through October 15th. Along with partaking in the numerous and varied festivals and activities planned for Hispanic Heritage Month, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors encourage you to create or update your estate plan. What Is Hispanic Heritage Month? Hispanic Heritage Month began in 1968 as Hispanic Heritage Week under President … [Read more...] about Hispanic Heritage Month in Los Angeles
How Can a Tax Apportionment Clause Benefit My Estate Plan?
Deciding how your assets will be distributed after you are gone is certainly an important estate planning goal; however, it should not be the only goal. Among the other important considerations in your estate plan should be the impact state and federal taxes, including gifts and estate and inheritance taxes, will have on your estate. Not only do you need to know what taxes will be incurred, but you should also consider how they will be paid and who will be responsible for paying them. With that … [Read more...] about How Can a Tax Apportionment Clause Benefit My Estate Plan?
Why a Family Caregiver Is Not Always the Best Option
People in the U.S. are fortunate to have a longer average life expectancy than people in most other countries. Living longer, however, comes at a price. It often means spending more time battling the aging process and increases the odds of needing a caregiver or nursing home. If you find yourself headed toward the need for a caregiver, your initial preference is probably to have a family caregiver take care of you at home. While this is certainly understandable, the Los Angeles elder law … [Read more...] about Why a Family Caregiver Is Not Always the Best Option
Cómo Crear Su Primer Plan Patrimonial
Crear su primer plan de sucesión puede ser una perspectiva emocionante, pero igualmente intimidante. Comprensiblemente, la mayoría de las personas no están familiarizadas con la terminología, las herramientas y las estrategias que intervienen en la planificación patrimonial. Saber qué esperar y cómo prepararse puede ayudar a que su experiencia inicial de planificación patrimonial sea beneficiosa y agradable. Con eso en mente, los abogados de planificación patrimonial de Los Ángeles en … [Read more...] about Cómo Crear Su Primer Plan Patrimonial
What You Should Know about Asset Protection Trusts
Acquiring assets is undoubtedly part of your overall estate plan; however, simply amassing assets without taking steps to protect those assets can cause the most well-drafted estate plan to fail. One way to protect assets is through the creation of an asset protection trust. With that in mind, the Los Angeles trust attorneys at Schomer Estate & Wealth Advisors explain what you should know about asset protection trusts. Common Types of Asset Protection Trusts Domestic Asset Protection … [Read more...] about What You Should Know about Asset Protection Trusts
What Is Self-Dealing by a Trustee?
Appointing the right person to be the Trustee of a trust you establish is every bit as important as properly drafting the trust agreement. Because a Trustee holds a fiduciary position during the administration of the trust, the Trustee has a considerable amount of power and authority. If a Trustee violates his/her fiduciary duty it can cause the trust to fail. As the Los Angeles trust administration attorneys at Schomer Estate & Wealth Advisors explain, self-dealing by a Trustee is one way that … [Read more...] about What Is Self-Dealing by a Trustee?
How to Create Your First Estate Plan
Creating your first estate plan can be an exciting, yet equally intimidating, prospect. Understandably, most people are unfamiliar with the terminology, tools, and strategies that go into estate planning. Knowing what to expect and how to prepare can help your initial estate planning experience be both beneficial and enjoyable. With that in mind, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors explain common steps involved in creating your first estate … [Read more...] about How to Create Your First Estate Plan
2022 Global Retirement Index Top 5 List
Many factors will impact how comfortable you are when you retire. While the amount of money you managed to save is certainly one of those factors, where you spend your retirement years is also a significant factor. Many retirees move outside of the United States to make their retirement savings worth more. If you are considering retiring abroad, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors share the 2022 Global Retirement Index top five list. What Is the … [Read more...] about 2022 Global Retirement Index Top 5 List
