A lawyer for 30 years, Attorney William Olcott bases his law practice on the Midwestern values he grew up with of fairness, honesty and hard work. He understands that people come to lawyers for help when life is presenting particularly difficult challenges, and understands and sympathizes with his clients.
Attorney William Olcott practices primarily in the areas of bankruptcy and wills and trusts. He has extensive knowledge of his chosen fields.
It is important for you to prepare a will as soon as possible, because it isn’t just about money. You will make decisions about who will inherit your estate, and choose an executor. You will also decide, if necessary, who will raise your children and manage their money.
You may also make important decisions about what will happen if you are unable to make decisions on your own. Bakersfield Attorney William Olcott will sit down with you and help you decide what kind of plan to make.
The Advantages of Trusts
If you leave your property to your loved ones so that they will receive it on your death, they will not be able to receive it until your estate goes through probate. The government will also assess large inheritance taxes, which reduces the amount your loved ones can get.
Trusts Attorney William Olcott can work with you well in advance to prepare trusts, so that your assets aren’t part of your estate. Your loved ones will be taken care of more quickly, and they won’t lose out because of large penalties by the government.
Probate is the process where the estate is divided between the people the decedent owed and the decedent’s heirs. This can be a simple job when the estate is small and the plan is well-organized. Even then there are many tasks such as notifying creditors and filing tax returns which the executor may need help with.
Sometimes a person with an interest in the estate contests the way the estate is being divided. If that happens, the court will be notified and litigation could tie up the estate.
If you are have any questions about planning your estate or if you are involved in a dispute, call The Law Office of William Olcott for Experience. Reliability. And results.