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Schomer Law Group, Los Angeles Estate Planning and Elder Law and Elder Law Attorneys

Schomer Law Group, Los Angeles Estate Planning and Elder Law and Elder Law Attorneys

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Home » Communities We Serve: Rossmoor, California

Communities We Serve: Rossmoor, California

Thanks for taking the time to find out about our connection to the Orange County area. Here at the Schomer Law Group, we take our commitment to our neighbors in the Rossmoor community to heart. A planned community built from 1955 to 1961, the Rossmoor community is easily recognizable with its red brick “signature wall” bordering the entire community.

Rossmoor Residents Should Plan for Retirement

Clients often have the false impression that social security benefits and a basic 401K are sufficient for retirement.  The truth is, it is important to create a real retirement plan so you won’t need to be dependent on government benefits, in order to have a comfortable retirement.  Social security may not be a secure as you think.  That’s why Rossmoor residents need a retirement plan and the Schomer Law Group is here to help.

Be Sure You Can Accumulate Sufficient Savings For a Comfortable Retirement

A huge part of retirement planning is being sure you have enough money saved up to support your financial needs once you retire from the workforce.  It should go without saying that, the sooner you start putting money aside, the more you can have saved up by the time retirement actually rolls around.  So, if you haven’t already, open a savings account and start making your regular deposits immediately.  The sooner the better because you will be able to benefit from more compound interest.

Social Security Benefits May Not Be Guaranteed

Most of us are concerned about the certainty or stability of the government’s Social Security system.  First, you need to understand a little about how the system works.  All while you are employed, you are making contributions to Social Security through the FICA taxes that are automatically withheld from your paycheck.  FICA stands for Federal Insurance Contributions Act. These contributions go towards paying Social Security benefits for other workers when it is their time to retire. Once it is your time to retire, you will receive benefits from the system, as well, based on your level of contributions. However, according to at least one study that has been published, the ratio of covered workers versus the number of beneficiaries under the Social Security program has decreased substantially.

The Future of Social Security Benefits

The concern that many people have is whether there will be sufficient benefits available by the time they retire; regardless of how much they may have paid into the system.  With more and more people living longer than before, and more people looking to social security benefits when they retire, a greater burden is being placed on the Social Security system. Ultimately, the strain on the system may require the federal government to reduce social security benefits, or even suspend them entirely.

Planning for the Unexpected Cost of Medical Care

As we get older, the likelihood of developing medical problems usually increases, as do the resulting health care expenses. Without appropriate financial support, medical expenses often lead to an overwhelming financial burden. Therefore, one element of your retirement plan should be long-term insurance (LTC), the purpose of which is to aid in financing your health care needs during your retirement years.

What if You Want to Retire Earlier?

With Social Security, the earliest you can begin collecting retirement benefits is age 62. It is important to note, though, that the longer you can postpone collecting social security, the larger your payments will be when you ultimately do. In fact, you will not receive your full retirement disbursement, unless you wait until “full retirement age,” which has been increased to 67 years old, for individuals born in 1960 or later. If you were born before 1960, your full retirement age depends, instead, on the year you were born.

Social Security Benefits are Unlikely to be Sufficient

There was a time when an individual’s retirement was financed entirely by employers and government benefits. Now, though, with the reservations people now have about relying on Social Security, it is more necessary than ever for individuals to take retirement planning into their own hands. Even if there will be social security benefits available for you, they will likely be insufficient for providing a comfortable retirement. The purpose of the social security program is to provide only the bare minimum standard of living during retirement. Therefore, without proper retirement planning, your golden years may not be as comfortable as you hope.

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.

#estateplanning, #schomerlawgroup, #rossmoorcommunity

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Testimonials

Client Review
July 29, 2020
    

We need to update our Living Trust and attended Schomer Law Group’s seminar. Afterwards we made an appointment and were impressed by the attention Scott Schomer and Liran Aliav gave to our case answering all questions and making suggestions how to minimize the estate tax. All the office staff is very friendly and we highly recommend Schomer Law Group.

Frank & Jutta R
Client Review
July 29, 2020
    

Mr. Schomer does an amazing job at explaining all the intricacies of establishing a trust. He and his team help you every step of the way so you always know what to expect and what you are preparing for. Best education you can get and the best gift you can give your family.

Paula M.
Client Review
July 29, 2020
    

We put off getting a trust for years. After attending a seminar with Scott Schomer we realized that the time had come to get a trust. We were given very good reasons for why we should get a trust. No pressure, just the plain facts. We are very relieved and happy to finally get our trust. Scott and Cesar were very knowledgeable, helpful and listened to our ideas of what we had to say. Any questions that we have now and in the future they are available to assist us to solve them. I recommend the Schomer Law Group and I wish we knew about them years ago.

Phillip G.
Client Review
July 29, 2020
    

When you’re presented with an invitation to attend in a mailer, you may have reservations, this was a truly gift!! My wife and I were educated and guided through the process of creating a family trust.
Both of our parents had attorney’s that “worked” with wills/trusts, but came up short. Fortunately, the Schomer Law Group was there! This is a group of attorney’s that only specialize in estate planning, law, and financial advice, so you know you’re getting expert and personalized advice. This is the best money we’ve ever spent!! Thank you!

Bob L.
Client Review
July 29, 2020
    

We knew we had to update our 10 year old ( 20 page ) trust. After several detailed meetings, Liran and Cesar produced a large ( 300 pages + ) highly detailed trust document that we have used to make sure our family estate is well managed and clearly understood.
They were all very helpful in answering myriad questions and explaining all the various options…

We would strongly recommend the Schomer Law Group to anyone with an estate of even modest means, to assure proper planning…

Bob S.
Client Review
July 29, 2020
    

We had contemplated updating our will and starting a trust for a number of years. After attending a talk by Scott Schomer we realized we were long overdue and the potential downside of not having our affairs in order was significant. Scott and his excellent team made the process simple and seamless. They were great listeners, addressed all our concerns and even pulled and processed all the paperwork from our financial institutions. If you are looking for assistance with estate planning, wills and trusts, we highly recommend Schomer Law Group.

Robert F.
Client Review
July 29, 2020
    

Very competent & informative – friendly atmosphere – ready to answer the most mundane questions – relaxed.

Joan S.
Client Review
July 29, 2020
    

Mr. Schomer was excellent in getting our family trust and estate affairs in order. My husband and I had put off doing this and Scott really made the process easy! He is very passionate in making sure his clients get all that they need and we really appreciated it. I would highly recommend him and look forward to the many years he will be available to assist our family.

Kim

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2155 Campus Drive
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El Segundo, CA 90245
Phone: (310) 337-7696
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