We would like to thank our neighbors in Rancho Palos Verdes for visiting our website. If you are looking for a licensed estate planning attorney in Los Angeles County, you have found a reliable local resource. Located high on the Palos Verdes Hills and bluffs of the Palos Verdes Peninsula, Rancho Palos Verdes is an affluent Los Angeles suburb with astounding open spaces and incredible views of the Pacific Ocean and Santa Catalina Island.
The Wonder of Point Vincente
Residents of Rancho Palos Verdes and visitors alike know of the wonders to be found at Point Vincente. Certainly, the Point Vincente Lighthouse is one of the most remarkable landmarks of the Palos Verdes Peninsula. This historical monument is located at the southwestern tip of the peninsula close to the intersection of Palos Verdes Drive and Hawthorne Boulevard. It can be found just north of the Long Beach Harbor and Los Angeles Harbor entrances.
The lighthouse once served the invaluable purpose of protecting mariners from the rocky shoals surrounding the point. Though not in use today, it was first listed in the National Registry of Historic Sites in 1979 and still serves as a beautiful sightseeing stop. Equally impressive is the Point Vicente Interpretive Center, known as one of the best whale-watching locales in the area. The Point Vicente Interpretive Center offers an amazing chance to witness the annual migration of the Pacific gray whale which takes place from December through April.
We Proudly Serve Los Angeles County and its Residents
Here at the Schomer Law Group, we take our commitment to our neighbors in Rancho Palos Verdes to heart. So, we want to make sure you have started your estate planning. Estate planning is the way you prepare yourself and your family for what happens after your death. Estate planning also allows you to plan for unexpected incapacity. Planning for the future is critical for everyone, regardless of the size of your estate or the size of your family. Planning ahead gives you the opportunity to specify who will inherit your property after your death while helping you to reduce the taxes your estate will have to pay. If you become incapacitated, either temporarily or permanently, your estate plan can provide the protection you and your family will need, if you are unable to make decisions for yourself.
Estate Planning Ensures Your Assets Go to Your Intended Beneficiaries
Possibly the most basic reason for having an estate plan is to keep your property from ending up with someone you don’t want to have it. The reality is, if you don’t make the decision now about who should receive your assets, the court will do it for you. The primary purpose of an estate plan is to designate which of your heirs should receive which assets. If the court is required to do this for you, it can take years to complete and often leads to ugly family disputes. Remember, courts do not automatically decide that a surviving spouse will get everything.
Estate Planning Protects Families with Young Children
While none of us want to consider the possibility that we might die while our children are still minors, but it happens. So, you need to prepare for this dreadful possibility. This is where the last will and testament, an important component of every estate plan, is most helpful. What parent would not want to make all the decisions regarding their child’s care? In order to ensure that your children will be taken care of, in the way you see fit, you need to designate a guardian or guardians to care for them, in the event both parents die before the children turn 18. Otherwise, once again, the court will make that decision for you.
Estate Planning Can Reduce Estate Taxes
If you want to be sure that your heirs will not pay more than they absolutely must pay in estate taxes, then you need to have an estate plan. Another major goal of estate planning is protecting your heirs from a huge tax burden. A component of your estate plan should help you to transfer your assets to your heirs while maintaining the smallest tax burden possible. It doesn’t take major planning to reduce or even eliminate estate taxes if the right exemptions and deductions are used. But, without an estate plan, your heirs will likely be forced to pay the government quite a bit.
Estate Planning Can Prevent Family Disputes Over Inheritance
Deciding how to divide your estate fairly among your loved ones can be a challenge. Unless you provide very specific instructions in your estate plan, your executor will be left to decide. Avoiding family heirloom disputes can be accomplished with some planning. Ultimately, you wouldn’t want to see your family fighting over your personal possession after you pass on. An estate plan you can help you to avoid many of the challenges that come with distributing an estate.
If you have questions regarding estate planning, trust contests, or any other trust administration issues, please contact the Schomer Law Group either online or by calling us in Los Angeles at (310) 337-7696, and in Orange County at (562) 346-3209.
#estateplanning, #schomerlawgroup, #ranchopalosverdes