• 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      • Is Your Estate Plan Outdated?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
  • 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 » Estate Planning Attorneys Give Advice to Newlyweds and Young Families

Estate Planning Attorneys Give Advice to Newlyweds and Young Families

January 19, 2018Estate Planning

estate planning attorneys Newlyweds present unique challenges in the area of estate planning. As they start their new lives together they will face many changes, including the addition of new families. As most estate planning attorneys know, it is a very wise decision for newlyweds and young families to put their estate planning strategies in place as soon as possible. The sooner you start, the better chance you and your spouse will be on the same page with regard to family issues such as guardianship of your minor children, medical and end-of-life decisions and finances.

First, you need to update your beneficiary designations

Insurance policies and any other accounts or policies that requiring naming a beneficiary need to be updated to include your spouse. Likewise, if you have a new baby, you want to make sure they have appropriate insurance coverage and are named as your beneficiaries, when appropriate. Also, insurance policies that provide family coverage need to be updated which could also give you a better rate. Don’t forget about retirement account, as well. When they were initially opened, you likely named a parent or sibling as your beneficiary. If you fail to update that designation, your spouse will not inherit those funds if you pass away.

The benefits of opening joint bank accounts

It is not uncommon for newlyweds to want to combine their bank accounts and add each other to their credit card accounts. In fact, doing so makes it much simpler for new couples to pay their joint expenses. This can be a good thing for another reason. If you share ownership of these accounts, your spouse will automatically be able to access those accounts if your spouse passes away.

Existing estate planning documents need to be updated

Updating your estate planning documents is also important. If you already have a will or trust, then you should review those estate planning documents every time there is a life event, such as marriage or the birth of a child. You should also update your documents to make sure your spouse is named as an heir in your will or beneficiary of your trust, as you see fit. You will need to add your spouse as your agent with regard to your medical and end of life decisions and power of attorney for financial matters.  Our Los Angeles and Los Alamitos estate planning attorneys can help you modify these estate planning documents.

Name changes require updating identification and other official documents

Although times and the nature of relationships have changed, there are still many couples who agree that the wife will take the husband’s last name or hyphenate her name. In those situations, the wife needs to update all official documents, including identification such as her driver’s license, passport, social security card, and voter registration. The same is true for her name on her bank accounts, credit cards, and insurance policies.

Estate planning strategies for young families

When couples start having children, they have a responsibility to plan for the future of their new family. That way, you can be sure that your family will be able to care for themselves should something happen to you. It would be a mistake to think you can put off estate planning because everything is new. The truth is, estate planning can never be accomplished too soon. Let our estate planning attorneys help you get started with this important task.

New families must consider the issue of guardianship

One of the first things young families should consider is appointing a guardian for their children in the event both parents pass away. Certainly, this is a topic that will be hard to think about, but it is crucial that you make sure your children will be taken care of by the right person if something ever happens to you. Your minor children should be entrusted to someone you believe will be caring and reliable and willing to raise them until they reach the age of majority.

You need to designate an executor of your estate

Another recommendation from our estate planning attorneys is to carefully consider your designation of an executor for your estate. By doing so, you can be sure that your children will receive the inheritance you wanted them to have. Making this decision will have a substantial effect on the success of your estate plan because you need someone trustworthy to carry out that plan. Our estate planning attorneys can help you make this decision.

Download our FREE estate planning worksheet today! 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, #estateplanningattorneys

  • 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)
  • Things You May Need to Update in Your Estate Plan When You Enter Retirement - March 22, 2023
  • 10 Estate Planning Tips You Cannot Afford to Ignore - March 21, 2023
  • 7 Estate Planning Steps for the Beginner - March 16, 2023

Other Articles You May Find Useful

estate planning tips
10 Estate Planning Tips You Cannot Afford to Ignore
estate planning steps
7 Estate Planning Steps for the Beginner
Estate planning
How Do I Approach the Subject of Estate Planning with My Elderly Parents?
Los Angeles estate planning attorneys
Marriage and Divorce: How Your Estate Plan Can Help Protect Assets
The Lessons from Lisa Marie
What Happens When You Don’t Trust Your Trustee – 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.