Throughout the Los Angeles area, young families have a unique opportunity. You can make informed choices now to build wealth and plan a secure future for your family so you leave a great gift to your children and so you can enjoy your golden years worry free. While many people believe estate planning or asset protection is only for the old or for the wealthy, the fact is young families can benefit more than anyone from getting legal help from experienced Los Angeles estate planning lawyers.
Schomer Law is a Los Angeles based estate planning firm that represents individuals and families at all phases of life. We are members of the American Academy of Estate Planning Attorneys and we have a top 10 Avvo Rating for the skillful client services that we provide. Our legal team offers guidance, advice, and legal representation to many young families and we are very proud of helping people to ensure their kids are cared for and their future is secure. Give us a call today to learn about the assistance we can offer and to get answers to questions including:
- Why do young families in Los Angeles need to create a plan for the future?
- What should be a part of your estate planning and future planning?
- How can a Los Angeles estate planning lawyer help young families?
Why Do Young Families In Los Angeles Need Help Creating a Plan for the Future?
As you graduate college, build your career, get married, and have children, you take on many responsibilities and you get the benefit of many opportunities. If you make the right choices at this phase in your life, you can take advantage of the magic of compound interest to grow tremendous wealth over your working life. You can make smart choices to save on taxes, build a business or grow your career, and ensure your children are cared for.
The fact is, no one knows what the future will bring and you cannot guarantee whether you will have great success or face unexpected tragedy. The only thing you have control over is whether you have charted a course to achieve the best success and made provisions to plan for the worst. An estate planning lawyer can help you to both prepare for tragedy and maximize the chances of wealth and prosperity.
What is Involved With Estate and Future Planning to Protect Your Children?
Every family is different and every person has different goals. However, there are some common issues that young families need to address as they make a plan for a secure future. Schomer Law can help you to take advantage of legal tools and protections to:
- Develop a plan for investing for retirement and your children’s education while minimizing taxes and taking advantage of tax-deferred investments.
- Name a guardian for your minor children and ensure your kids will be cared for if something happens to you.
- Create a financial plan to provide for your children if you experience an untimely death or become disabled.
- Develop a plan to protect the assets you are growing and to ensure your family business or the wealth you amass can be handed down to the next generation.
- Evaluate insurance coverage to ensure you have coverage in place to care for your loved ones.
- Ensure you have named someone to take control of your assets if you become incapacitated due to unexpected illness or injury.
- Provide instructions on what types of medical care you want to receive in the event of a tragedy that renders you unable to communicate or act.
- Structure property and business ownership so your assets are protected, and so you are able to eventually leave a legacy behind for those you love.
- Create a plan in case you need longterm care so you won’t have to spend down your assets if you ever need to go into a nursing home.
Time is of the essence for creating a plan, because making smart choices when you are young can allow you to build more wealth and to make sure that wealth is protected.
How Can a Los Angeles Estate Planning Lawyer Help Young Families?
At Schomer Law, our attorneys have been named as SuperLawyers and every member of our legal team is focused on making sure we earn our client’s trust. At every phase of your life, we are here to help you take steps to become wealthier, more secure, and better protected from bumps in the road. Give us a call so we can help you to create a personalized plan to protect your children and loved ones and to build a solid future.