Estate Planning Lawyer Erik Hartstrom Offers Four Benefits To Taking Control Of Your Estate Plan

ELK GROVE, Calif. - June 7, 2013 - PRLog -- Erik Hartstrom, founder of Estate Plan Pros, a Sacramento law firm focused on estate planning, recently discussed Four Benefits to Take Control of Your Estate Plan, and presented strategies to reduce costs and stress for beneficiaries.

"I've helped educate hundreds of clients," remarked Erik. "I often find that people are surprised at what the law and courts will do to their family when they pass away.”  

“Understanding these four benefits of taking control of their estate plan can save surviving children and spouses months and thousands of dollars in expense,” stated Hartstrom.

He added, “Estate planning is really recognizing that things will happen when you are gone, and decisions will have to be made.  If you don’t make those decisions, your children, other people, and sometimes the court will have to make those decisions.”

Estate Planning attorney Erik Hartstrom discusses the Four Benefits To Taking Control Of Your Estate Plan:

1.    Children

Minor children need guardians.  If you can’t be there for them, who should be that person?  Money issues are compounded when dealing with minors.  Under the Uniform Transfer to Minor’s Act (California Probate Code Section 3900 and following), an adult will handle the inherited estate until a child becomes an adult at age 18.  Practically speaking, if you haven’t taken control by creating an estate plan, the guardian will only have access to the money through permission from the court – a time intensive and potentially expensive process.  In short, if you don’t take control, a child may be left with a large inheritance that is difficult to use for their benefit while they are a child, and suddenly becomes entirely theirs at a very early age.

2.    Choosing your beneficiaries

Sometimes your intended beneficiaries are the default provided by law, but not always.  I’ve had many conversations with people want want this particular thing or that to go to a specific person.  If you don’t take control by making that desire legally binding for later, odds are, it won’t happen.  Or I’ve seen parents leave everything to the most responsible child with the assumption that that child will “fairly” distribute the estate to his or her siblings.  This leaves that child and the other beneficiaries with ugly tax consequences that were completely avoidable.

3.    Creating protections

For larger assets, it may be possible to add protection from creditors, or ensure that an asset will stay in the family and not go to an ex-spouse.  A simple will printed off the internet can’t accomplish these things.

4.    Cutting off arguments

“This is what Mom or Dad would have wanted” is a great way to start or end an argument.  The way to make sure it ends a potential argument is by making it clear what you wanted.  There are certain items in every family that represent treasured memories that are unique and sentimental.  You can reduce the potential for future arguments and hurt feelings between your children by communicating your wishes.  You can make sure your wishes are heeded by including them in your will or trust.

---------------

Erik is an authority on estate planning, creating wills, trusts, and other documents to help his clients create a lasting legacy.  His practically style and focus on client education have resulted in national attention.  He is often featured in Life Health Pro, a publication which attracts top financial experts across the country.  Erik’s expertise has been featured in the media across California and nationally, including the San Francisco Chronicle, and Good Day Sacramento.  

Erik is passionate about his mission: “I help parents prepare for the future.  They can keep their children out of probate court.”  Contact information for Erik is available at his website, www.estateplanpros.com