For many people, philanthropy is not just an occasional act or thought but a fundamental part of who they are and how they live their life. If supporting the causes that you care about is central to your values, it makes sense to weave philanthropy into your estate plan so that your generosity continues beyond your lifetime. Fortunately, estate planning provides a variety of tools that allow you to incorporate charitable gifts in ways that align with your goals, protect your assets, and even … [Read more...] about How to Incorporate Philanthropy into Your California Estate Plan
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Understanding Asset Protection Trusts in California
Building wealth is often a primary goal of any long-term financial plan, but simply owning valuable property without adequate safeguards can leave that property vulnerable to loss. Creditors, lawsuits, and certain government claims can erode even the most carefully built estate if assets are not protected. One effective legal tool for safeguarding property is an asset protection trust. With that in mind, the Los Angeles attorneys at Schomer Law Group, APC explain how different types of asset … [Read more...] about Understanding Asset Protection Trusts in California
Why Every College Student in California Should Have an Advance Directive
For any parent, sending a son or daughter off to college is a life-changing milestone event filled with pride, excitement, and often a little apprehension. If you just sent your child off to college, you likely devoted significant time and resources to preparing for the transition, including shopping for dorm necessities, registering for classes, and arranging travel. In the middle of all that planning, you may have overlooked one critical aspect of preparing your child for college – planning … [Read more...] about Why Every College Student in California Should Have an Advance Directive
Naming a Charity as a Trust Beneficiary in California
For many Californians, charitable giving is not just an occasional activity but a consistent part of life. Those who value philanthropy often wish to ensure their generosity continues as part of their long-term financial and estate planning. One of the most effective ways to integrate charitable contributions into an estate plan is by making the charity a trust beneficiary because a trust offers flexibility, potential tax benefits, and the ability to control how assets are managed and … [Read more...] about Naming a Charity as a Trust Beneficiary in California
Hulk Hogan and Disclaimers…?
When Terry Bollea, aka “Hulk Hogan,” died on July 24 at age 71 in his Clearwater, Florida home, I wondered if I’d have another celebrity estate gone awry to discuss. I found something different but equally important for Estate Planning practitioners: disclaimers. Continue reading to learn more. … [Read more...] about Hulk Hogan and Disclaimers…?
Is a Discretionary Trust Right for My California Estate Plan?
Leaving assets outright to children, grandchildren, or other family members may appear to be a straightforward way to pass along your wealth, but the direct approach often leaves those assets vulnerable to creditors, lawsuits, divorces, or financial exploitation. Without safeguards in place, a well-intentioned inheritance can quickly be diminished or lost entirely. A discretionary trust offers a way to protect that inheritance while still providing for the people you care about. Moreover, a … [Read more...] about Is a Discretionary Trust Right for My California Estate Plan?
Review Your Estate Plan During National Preparedness Month in September
Every September, National Preparedness Month encourages people across the country to take steps to protect themselves and their families from unexpected crises. Most people immediately think of preparing emergency supplies, securing their homes, or planning evacuation routes; however, true preparation also requires ensuring that your legal and financial affairs are organized. National Preparedness Month makes September an ideal time to look closely at your estate plan to ensure that your assets … [Read more...] about Review Your Estate Plan During National Preparedness Month in September
“Let’s Go Crazy” … Over Prince’s Estate
When Prince died over nine (9) years ago, he shocked his fans one last time. Turns out, his unexpected death wasn’t the last surprise. Prince died without an Estate Plan causing his siblings to spend the next six years fighting over his Estate. Continue reading to learn more. … [Read more...] about “Let’s Go Crazy” … Over Prince’s Estate
Can You Serve as Trustee of Your Own Revocable Trust?
As you develop a comprehensive estate plan, you will likely incorporate a range of legal instruments designed to protect your assets and achieve your planning goals. Among the most common and flexible tools available is a trust. When you choose to include a trust in your estate plan, an important decision will involve selecting the individual or entity that will serve as Trustee. Many individuals considering a revocable trust ask whether they can name themselves as Trustee. The Los Angeles … [Read more...] about Can You Serve as Trustee of Your Own Revocable Trust?
Why Your Choice of Executor Matters in California
When most individuals begin the estate planning process, the first legal document they prepare is usually a Last Will and Testament. In drafting your Will, your primary focus often falls on determining how your property will be distributed among your loved ones. While these decisions are significant, another critical element of your Will is the appointment of an Executor. This role is far more influential than many people realize. Selecting the wrong person can lead to unnecessary complications, … [Read more...] about Why Your Choice of Executor Matters in California
