Sacramento Estate Planning Attorney Apprising You Of All Of Your Options

At Michael A. Sawamura, Attorney at Law, my clients approach the future with confidence. Estate planning involves an evaluation of goals and resources, developing a strategic plan to accomplish those goals and drafting strong documents to implement the plan. As an estate planning attorney, I guide my clients through that process and help them build something positive.

The Importance Of Having A Comprehensive Estate Plan

Whether your situation is simple or complex, you need an appropriate estate plan. By providing clear direction regarding medical, legal and financial issues in the event of your disability or death, you relieve family members of uncertainty. If you have a modest income, with more debt than savings, you need estate planning documents suited to your needs. If you have accumulated a substantial estate to pass to your heirs, you should consider asset protection strategies. If you are married, you may want to take extra measures to see that your estate passes to your family without unnecessary taxation or probate costs.

You will discuss sensitive topics with your estate planning lawyer. Your attorney must understand your goals in light of your resources and family obligations. When I begin to work with a new client, rather than asking them to complete an intake form, I like to take down the information during a discussion in my office or on the telephone. That discussion allows me to get to know the person and provide the best guidance. I personally speak with all existing and potential clients who call my office – even if it’s only to schedule an office appointment.

It is my goal to keep my clients outside of court. I keep the language in a will or trust clear, simple and understandable to ensure that my client understands exactly what the document will accomplish – and avoid any confusion that might result in a contest.

A Wide Variety Of Estate Planning Services

The estate planning services I provide include:

• Preparation of wills: Specifies who will inherit your property and assets after you pass away. It can also name guardians for minor children.
• Creation of trusts: Trusts allow a third party (a trustee) to manage assets on behalf of beneficiaries. This avoids probate and gives you more control over the asset distribution.
• Methods for avoiding probate: Strategic techniques such as setting up living trusts or designating transfer-on-death beneficiaries that keep your estate out of public court.
• Trust administration services: The process where a person manages and distributes the assets held in a trust according to the creator’s rules.
• Creation of powers of attorney documentation: Assigns someone the legal authority to make financial, legal and business decisions on your behalf if you become incapacitated.
• Living will considerations: A directive that details your choices regarding medical treatments, life support and end-of-life care if you cannot speak for yourself.
• Estate planning for domestic partnerships: Estate planning to give unmarried couples the same inheritance, tax-saving and medical decision-making rights as married couples.
• Estate planning for blended families: Careful coordination of legal documents to balance the inheritance rights of a current spouse with those of biological children from a previous relationship, preventing accidental disinheritance.

These legal and financial services collectively protect your assets, minimize tax liabilities, and make sure that your loved ones and the state will carry out your final wishes.

What Is The Purpose Of Estate Planning?

Estate planning takes care of your family, heirs and other loved ones after you are gone. It takes steps to ensure your wishes regarding the distribution of your property and estate are carried out. Proper estate planning can prevent depletion of your estate due to taxes and unnecessary expenses.

Estate planning is useful in that:

• It helps loved ones understand what steps to take regarding your property.
• Documentation makes it clear what property, accounts and other assets you own.
• Trusts and wills help eliminate disputes over your estate by letting everyone know who gets what.
• You can arrange to take care of minor children or children with special needs.
• It allows you to shield assets from taxation and expenses.
• Planning can prevent disputes, probate court intervention and litigation from occurring.

As estate planning can be a complex undertaking, an experienced lawyer can help advise you concerning the right approach.

What Is The Difference Between A Trust And A Will?

A will is a document naming your beneficiaries, selecting an executor and distributing your assets. In a will, you can:

• Specify precisely how you wish to manage and distribute the assets contained in your estate
• Choose an executor to carry out the terms of the will
• List the personal property you own and instruct who should take possession of it after you pass away
• Make such determinations rather than a court
• Name a guardian to look after your children

However, with certain assets like real property or bank accounts over $150,000, a will must be activated by the probate court, unlike a trust. In other words, a will alone will not avoid probate court involvement upon your death.

A trust is a document allowing you to set aside assets and property for a specific purpose. More importantly, trusts avoid probate court intervention. The trust can specify how to hold such assets and make clear the conditions concerning distribution. Unlike a will, a trust is a private, confidential document since the trust document is not filed with the court in order to activate it.

Do You Really Need A Will?

A will is one of the most important estate planning tools. It allows you to spell out how you wish to have your money and assets distributed after your death. Under most circumstances, the presence of a will reduces the costs of probating or settling an estate. In your will, you can specify the nature of your estate, clarify which heir should inherit specific assets and even identify the location of assets and accounts. Without such provisions, a court may instead make such decisions.

Most importantly, the existence of a will can reduce the stress your loss may put on your family and loved ones. By telling your loved ones what your wishes are concerning your estate, there will be fewer chances of disagreements arising.

A seasoned California estate planning attorney can provide you guidance concerning legal formalities and the sorts of provisions you should include in a will. Such guidance may be necessary to make certain your will is legally valid.

Do You Need A Will If You Already Have A Trust?

Under all circumstances, you will still need a will. A will and a trust both play important roles in estate planning services, but those purposes are not necessarily interchangeable. A trust allows you to avoid having certain designated assets going through probate. But there are things that a will accomplishes that a trust cannot do.

A trust only concerns property you transferred into the name of your trust, so it will generally never contain everything that you own (for example, your automobile). It’s important to have a will to account for those assets not contained in the trust. The will oftentimes is used to transfer properties not registered as trust assets into your trust after death.

Will You Need A Lawyer To Set Up Your Estate Plan?

Because estate planning is such an important step, you will want to take precautions to prevent mistakes. Incorrect wording or not meeting all of the requirements can mean your wishes regarding your estate will not be accomplished, resulting in costly probate court intervention.

Many state laws govern how a will in California must appear, primarily under the California Probate Code (Sections 6100 to 6390). Though there may be forms on the internet for wills, trusts and powers of attorney, there is no guarantee that such forms comply with state law. By relying upon such forms, you may end up drafting a will or trust that a California court will find invalid.

An estate planning attorney can make certain everything is in order. Since I have helped so many others with their individual estate, I also understand common mistakes that can prove costly.

Contact A Sacramento County Estate Planning Lawyer Today

When engaging in estate planning, it is important to work with a lawyer who has the experience to protect your interests and will understand your unique concerns. If you would like to contact my office to discuss the estate planning services I provide, please call 916-248-4465 or send an email to my Sacramento, California, office to arrange for an initial consultation.