5 Benefits of Estate Planning

Taking the initiative to begin the estate planning process is an intelligent and logical process for pro-active individuals and families, no matter their current financial or health situation. With the assistance of an experienced law firm, the process can be straight forward and easily done.

Sacramento estate lawyers, Michael Abrate and Daniel Olsen, take the time necessary to educate you and your family on the process so you can make informed and sensible decisions.

5 Benefits of Estate Planning

Being proactive by developing an estate plan has many benefits for you, your family, and loved ones. Our goal is to guide you through the process to achieve these five core benefits of estate planning:

1. Avoiding Probate
2. Reducing Estate Taxes
3. Specify How Your Assets Are Distributed
4. Planning for Your Future Care and Needs
5. Affordable Cost

1: Avoiding Probate

Avoid probate by having an established estate plan that includes a living trust and will is the best-known way to avoid subjecting your family to the great stress and expense that can come with probate court. Dealing with the probate court proceedings can result in a long-drawn-out burden that can come from your unplanned death for up to two years.

2: Reducing Estate Taxes

Meeting with a law firm whose attorneys specialize in estate planning and tax laws can help guide your loved ones to a reduction of taxes by transferring your wealth to your heirs. Many families are shocked to learn that estate taxes, income taxes, and transfer taxes could diminish the value of your estate by as much as half if it’s not properly planned ahead of time. This is especially true as the tax laws surrounding your estate are constantly in flux and being debated. Although you’ve worked hard to provide for your family, the government can have a drastic impact on how your estate is distributed after your death.

Consulting with an experienced attorney in estate planning is one of the best decisions you can make for your estate. Attorneys Michael Abrate & Daniel Olsen can provide the legal guidance for developing a trust, a vital step in asset protection. Establishing a simple plan to make gifts during your remaining years can help your loved ones save considerable taxes.

3: Specify How Your Assets Are Distributed

A properly developed estate plan allows you to ensure that the assets you have spent your life building will be distributed as you wish. Completing the legal documents included in an estate plan outlines the specific details of how you would like your legacy to be distributed and who you would like it to be distributed to. An estate plan will also protect your spouse or partner, children, and other beneficiaries from loss due to their incapacity or immaturity, and from creditors that may later enter their lives.

4: Planning for Your Future Care and Needs

In the event that you are unable to make decisions surrounding your health care or finances, having a living trust, power of attorney, and advance healthcare directive in place as part of your estate plan safeguards that your future care is carried out in the manner you desire.

5: Affordable Cost

One of the most common questions about estate planning is the cost. Working with a Sacramento estate planning attorney is not only affordable now, it is even more cost-effective for your future. Many individuals and families often delay the planning process as they don’t want to consider their final years. This delay can lead to many well-meaning individuals waiting until it is too late.

The truth is, working with an experienced estate planning lawyer is often less stressful and less expensive than a typical visit to your dentist. When you work with the Abrate & Olsen Law Group, we make the process simple for you to complete. You can rest assured that we will guide you through the process step by step.

The Advantages of Having an Estate Plan

With the use of various wills, trusts, and other legal documents, many people have been able to successfully distribute their property to their intended beneficiaries. Here are some advantages of having an Estate Plan.

• Provides the swiftest, most effective, least costly solution to transfer property to the people you want
• Saves loved ones on costly income and death taxes
• Protects against the expensive and prolonged probate court process
• Affords emotional security for you and your loved ones
• Ensures that you select your heirs and what property will be distributed to them rather than the legal system
• Ensures that your wishes for health decisions are established if you are unable to express your desires

“Abrate & Olsen are so professional and efficient. My husband and I have been working with them for the past year and they have great customer service! Establishing a will wasn’t difficult with an estate lawyer. You can tell they are very experienced and they want to really help you prepare for your future. So friendly!”
~ Lauren W. – Nicolaus, CA