To create a successful estate plan that will truly accomplish everything you want it to, you will likely need to incorporate a wide range of interconnected estate planning tools and strategies into your plan. One of the most common additions to a comprehensive estate plan is a trust. There are several different categories of trusts and numerous specialized trusts within each category. A Los Angeles trust attorney at Schomer Estate & Wealth Advisors explains how you can encourage a beneficiary to … [Read more...] about How Can I Encourage a Beneficiary to Use an Inheritance as Intended?
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Tips for Making Gifts to Grandchildren
One of the inherent joys in being a grandparent is the ability to spoil your grandkids. You may wish to continue doing so after you are gone by including gifts to your grandchildren in your estate plan. Doing so, however, can be tricky and may cause you a certain amount of internal conflict. To help you incorporate those gifts into your estate plan, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors offer some tips for making gifts to grandchildren. . By … [Read more...] about Tips for Making Gifts to Grandchildren
Can a Trustee Be Held Personally Liable for Mistakes Made When Administering a Trust?
If you recently learned that someone appointed you to be a Trustee of a trust, you probably have some questions if this is the first time you have acted as a Trustee. Many of these questions will be related to the duties and responsibilities of a Trustee. Before you agree to accept the appointment, however, your most important concern may be whether you could be held personally liable if you make a mistake. To help you better understand what it means to be a Trustee, a Los Angeles trust … [Read more...] about Can a Trustee Be Held Personally Liable for Mistakes Made When Administering a Trust?
What Is Veterans Aid and Attendance?
As a veteran, or the surviving spouse of a veteran, you likely know about some of the more common benefits available to you through the Veterans Administration (VA). You are probably also aware of the complex maize that must often be navigated to get approved for the benefits to which you are entitled. What you may not know is that you could be entitled to benefits from the “Veterans Aid and Attendance (VA&A)” program. For veterans and/or survivors living on a fixed income, the additional … [Read more...] about What Is Veterans Aid and Attendance?
What You Need to Know about Nursing Home Abuse
As an adult child, moving a parent to a nursing home is often something that is done with a healthy dose of guilt and worry. If you faced this difficult decision at some point in the recent past, you may still be second guessing your decision. If you begin to suspect that your parent is being abused at the nursing home, you can probably add anger and confusion to the mixed bag of heightened emotions you are currently experiencing. Having never faced this situation before, the confusion comes … [Read more...] about What You Need to Know about Nursing Home Abuse
Using a Living Trust for Incapacity Planning
When you think about estate planning you probably focus on what will happen to you and your assets after your death. While your estate plan certainly should plan for your eventual death, your plan should also contemplate the very real possibility of your own incapacity. Incapacity planning should be included in every adult’s estate plan. With that in mind, the Los Angeles estate planning attorneys at Schomer Estate & Wealth Advisors discuss how a living trust can be used for incapacity … [Read more...] about Using a Living Trust for Incapacity Planning
5 Reasons You Might Need an Elder Law Attorney
If you had a contract dispute, you would seek out an attorney who practices contract law. If you found yourself charged with committing a crime, you would want an attorney to represent you who focuses his/her practice on criminal law. Because it is a relatively new area of the law, however, you may not recognize when you need the assistance of an elder law attorney. To make sure you recognize that need if it arises, the Los Angeles elder law attorneys at Schomer Estate & Wealth Advisors offer … [Read more...] about 5 Reasons You Might Need an Elder Law Attorney
5 Razones por las que Podría Necesitar un Abogado de la Ley de Ancianos
Si tuviera una disputa contractual, buscaría un abogado que practique el derecho contractual. Si se encuentra acusado de cometer un delito, querrá que lo represente un abogado que centre su práctica en el derecho penal. Sin embargo, debido a que es un área relativamente nueva de la ley, es posible que no reconozca cuándo necesita la asistencia de un abogado de derecho de ancianos. Para asegurarse de reconocer esa necesidad si surge, los abogados de la ley de ancianos de Los Ángeles en … [Read more...] about 5 Razones por las que Podría Necesitar un Abogado de la Ley de Ancianos
Is a Pet Trust Right for Your Estate Plan?
If you have a family pet, you probably devote a significant amount of time and money to your pet. After all, your pet is a member of the family. Have you considered what will happen to your family pet if something happens to you? To be certain that your pet is protected if you become incapacitated or are no longer here, the Los Angeles pet planning attorneys at Schomer Estate & Wealth Advisors explain why you may wish to include a pet trust in your estate plan. Pets Are Part of the Family in … [Read more...] about Is a Pet Trust Right for Your Estate Plan?
Application of the Transfer for Value Rule to the Sale of Life Insurance
Even individuals with modest estates purchase life insurance which means that Estate Planning attorneys must understand the rules regarding taxation of life insurance. Retention of certain powers or certain transactions could cause negative income, gift, or estate tax consequences. Read on to learn more. … [Read more...] about Application of the Transfer for Value Rule to the Sale of Life Insurance
