• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Home
  • Who We Are
    • About Our Firm
    • Attorney and Staff Profiles
    • Scott P. Schomer Certified As Specialist In Estate Planning, Trust And Probate Law
    • Trust and Probate Litigation: Verdicts and Settlements
  • Services
    • Estate Planning
    • Probate
    • Trust Administration
    • Trust, Probate and Estate Litigation
    • Family-Owned Businesses
    • IRA & Retirement Planning
    • LGBTQ Estate Planning
    • Loss of a Loved One
    • Power of Attorney
    • SECURE Act
    • Special Needs Planning
    • Asset Protection & Business Planning
    • Estate and Gift Tax Figures
    • Young Families
  • Probate
    • Is Probate Always Necessary In California?
    • Probate & Estate Planning Savings Calculator
    • Probate Administration
    • Probate Code 850 Petitions
    • Probate Disputes
    • Probate In California
    • Probate Laws
    • Probate Litigation
    • Why Hire A Probate Attorney
  • Elder Law
    • Conservatorship
    • Coping with Alzheimer’s
    • Estate Planning
  • Resources
    • Elder Law
      • Elder Law & Medi-Cal Definitions
      • Elder Law Reports
    • Estate Planning
      • Estate Planning Articles
      • Estate Planning Checkup
      • Estate Planning Definitions
      • Estate Planning Reports
        • Advanced Estate Planning
        • Basic Estate Planning
        • Estate Planning for Niches
        • Trust Administration
      • Incapacity Planning Definitions
      • Is Your Estate Plan Outdated?
      • Special Needs Planning Can Protect Benefits
      • Top 10 Estate and Legacy Planning Techniques
    • Free Estate Planning Worksheet
    • Free Seminars
      • Webinars
    • Frequently Asked Questions
      • Advance Health Care Directives
      • Asset Protection
      • California Adult Conservatorship
      • Estate Planning
      • Estate Planning & Remarriage
      • Frequently Asked Questions For Families Without An Estate Plan
      • In-Home Elder Care
      • IRA Inheritance Planning
      • IRA & SECURE Act
      • Irrevocable Trust
      • Last Will and Testament
      • Legacy Wealth Planning
      • LGBTQ Estate Planning
      • Living Trust
      • Probate
      • Special Needs Planning
      • Trusts
      • Trust Administration
      • Wills
    • Newsletters
    • Pre Consultation Form
    • Presentations
    • Published Book
    • Trust Administration & Probate Resources
      • Bereavement Resources
      • How to Know if You Need Extra Help With Your Grieving
      • Loss of a Loved One
      • The Mourner’s Bill of Rights
      • Things You Need To Do When a Loved One Passes Away With a Trust
      • Things You Need To Do When a Loved One Passes Away With a Will
      • Trust Administration & Probate Definitions
  • Reviews
    • Our Reviews
    • Review Us
  • Communities We Serve
    • Los Angeles County
      • Bellflower
      • Cerritos
      • El Segundo
        • El Segundo Probate Resources
      • Hawthorne
      • Inglewood
      • Long Beach
        • Long Beach Elder Resources
        • Long Beach Probate Resources
      • Manhattan Beach
      • Playa del Rey
      • Santa Monica
      • Westchester
        • Westchester Elder Resources
        • Westchester Probate Resources
    • Orange County
      • Anaheim
      • Buena Park
      • Cypress
      • Fountain Valley
      • Garden Grove
      • Huntington Beach
        • Huntington Beach Elder Resources
        • Huntington Beach Probate Resources
      • Los Alamitos
        • Los Alamitos Probate Resources
      • Rossmoor
      • Stanton
      • Seal Beach
      • Westminster
  • Contact Us
    • Contact Our Office
    • Estate Planning Discovery Call
  • BLOG
  • Videos

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

Connect With Us Today (310) 337-7696

Attend a Free Event
Home » Estate Planning » 5 Estate Planning Mistakes You Can Avoid Making

5 Estate Planning Mistakes You Can Avoid Making

June 8, 2022Estate Planning

Los Angeles estate planning attorneys

Your estate plan may be the most important set of documents you ever create. With that in mind, mistakes should be avoided whenever possible. The average person, however, knows very little about estate planning, making mistakes common. To help prevent you from making a costly mistake, the Los Angeles estate planning attorneys at Schomer Law Group, APC discuss five common estate planning mistakes you can avoid making.

  1. Not planning.  People are frequently under the mistaken impression that an estate plan isn’t necessary unless you have amassed a significant amount of valuable assets or until you have a family. The truth of the matter is that every adult can benefit from having an estate plan in place. Whether your estate consists of only personal property and a small savings account, or you have amassed an empire, if you die without an estate plan in place the State of Florida gets to decide how any assets you do own will be distributed.  Family heirlooms could be distributed to people you would never give them to, or worse, they could be sold to provide an equal distribution of assets among your legal heirs.
  2. Appointing the wrong fiduciaries.  The average estate plan includes several fiduciary positions within the plan that are appointed by the creator of the plan. In your Last Will and Testament, for example, you will need to appoint an Executor. Likewise, if you incorporate a trust into your plan, you will need to appoint someone as the Trustee of that trust. A common mistake is to appoint a spouse, friend, or family member to fiduciary positions without considering their suitability for the position.
  3. Failing to update your plan.  Not having an estate plan at all can be problematic; however, having an estate plan in place that is out of date can be even worse than not having one at all. For instance, imagine how you would feel if you were to suddenly become incapacitated, requiring someone to step in and take over your finances and make healthcare decisions for you and the person you have designated to do so is your (now) ex-husband/wife? Although there is no hard and fast rule, most estate planning attorneys suggest a routine review every three to five years until you reach retirement age, at which point you can move to every five to eight years. Of course, certain events, such as a marriage or a move to a new state, will prompt an immediate review and revision of your plan.
  4. Going the DIY route. Because of the ease with which you can locate all sorts of DIY legal forms on the internet is can be tempting to go the DIY route when creating your estate plan to save time and/or money. In the long run, however, doing so will likely cost your loved ones even more time and money given the frequency with which DIY legal documents cause the need for protracted litigation because of mistakes, errors, and omissions. Your estate plan is simply not the best way to save money.
  5. Failing to plan for incapacity. Estate planning requires you to consider the possibility of your own death. While this is not easy to do, most people manage to get past the emotional aspect of planning for their own death because they recognize the need to do so. Your death, however, is not the only thing that you need to plan for in your estate plan. Incapacity planning should also be included in your comprehensive estate plan given the odds of suffering a period of incapacity at some point in your life. If you do become incapacitated, someone must step in and make decisions for you and handle your estate until you are able to do so yourself. Unless you want a judge to decide who that person will be, you must include an incapacity planning component in your estate plan.

Contact Los Angeles Estate Planning Attorneys

For more information, please join us for an upcoming FREE seminar. If you have additional questions or concerns about estate planning, contact the experienced Los Angeles estate planning attorneys at Schomer Law Group APCby calling (310) 337-7696 to schedule an appointment.

  • Author
  • Recent Posts
Scott Schomer, Estate Planning Attorney
Scott Schomer, Estate Planning Attorney
A graduate of Boston University School of Law, Scott P. Schomer is a frequent lecturer on estate planning and elder law issues, having discussed these important issues on local and national television. A seasoned courtroom advocate, Scott has obtained combined judgments and verdicts in excess of twenty-five million dollars for his clients. Scott has served as a member of the Los Angeles Superior Court Probate Volunteer Panel (PVP Attorney), Probate Settlement Panel and a Judge Pro Tempore. Scott's expertise has been recognized by his peers with such accolades as a life-time membership in the Multi-Million Dollar Advocates Forum, the Five Star Wealth Manager designation, and repeated nominations as California Super Lawyer.
Scott Schomer, Estate Planning Attorney
Latest posts by Scott Schomer, Estate Planning Attorney (see all)
  • What Can I Do to Prevent Probate Disputes After I Am Gone? - June 1, 2023
  • Understanding and Manipulating Estate and Gift Taxes - June 1, 2023
  • What It Means to Disclaim - June 1, 2023

Other Articles You May Find Useful

What It Means to Disclaim
Spring Summit 2023: Celebrating 30 Years of Indispensability in the Windy City
Should In Re Gregory Hall Trust Change the Way We Think About Amending Trusts?
The IRS’ Annual Warning: The 2023 Dirty Dozen
The Joy in Joint Trusts
How Tax and Non-Tax Considerations Impact Estate Planning – Part I

Primary Sidebar

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

Schomer Law Group

Subscribe To Our Blog

Sign up using the form below to get our latest estate planning updates!

  • This field is for validation purposes and should be left unchanged.

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

Follow Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

Office Address

El Segundo
2155 Campus Drive
Suite 250,
El Segundo, CA 90245
Phone: (310) 337-7696
Fax: 310-337-1277

See Larger Map Get Directions

Office Hours

Monday9:00 AM - 6:00 PM
Tuesday9:00 AM - 6:00 PM
Wednesday9:00 AM - 6:00 PM
Thursday9:00 AM - 6:00 PM
Friday9:00 AM - 6:00 PM

Footer

  • Advantages of Working With Our Firm
  • About The American Academy
  • Disclaimer
  • Privacy Policy
  • Sitemap
  • Contact Us

Schomer Law Group

Connect with Us

  • Facebook
  • Twitter
  • Linkdin
  • Youtube
  • Instagram
  • Pinterest

footer-logo
© 2023 American Academy of Estate Planning Attorneys, Inc.

Schomer Law Group

Attorney Advertisement.

© 2023 American Academy of Estate Planning Attorneys, Inc.