Estate & Succession Planning

Attorney Background

Robert W. Olson Jr. began estate planning work in 1986. He has completed estate planning work for a "Forbes 400" member, the estate of a three-time Oscar® winner, and numerous other individuals each with individual net worths of over $20 million. Mr. Olson now focuses on estates of under $11 million. While a significant number of his clients are professionals (such as doctors and dentists) he provides quality and cost-effective estate planning services for all types of clients and situations.

Mr. Olson is a 4th generation Santa Barbara resident and the son of a retired radiologist. After graduating from San Marcos High School (1977), he received his AB in Religion (Ethics) from Dartmouth College (1981) and a JD from the University of Southern California Law School (1984). He is married and has two children.

Living (Revocable) Trusts

Initial Consultation - Free. We will discuss trusts, wills and lifetime gifts in the context of current and future tax and probate costs, flexibility and practicality and cost of each planning approach, and unforeseen family dynamics that should be addressed up front, to help choose the proper mix of estate planning techniques.

Living Trust Plan - $2,995 to $4,195. $2,995 for singles, $3,695 for couples with a marital deduction, and $4,195 for couples without a marital deduction. Includes all Attorney Consultations, Living Trust with Bypass Trust, Pourover Will(s), Health Care Directive(s), Deed of California residence to trust (with notary and recording fee), Assignment of Assets, Certification of Trust, and Power(s) of Attorney, all as applicable. Please have your completed Estate Planning Worksheet (see left sidebar) with you at our first meeting.

Other estate planning services (e.g., Wills, health care directives, powers of attorney, codicils and trust amendments, and gift plans are all available at hourly or flat rates.

FLiPs, APTs, GRITs, GRATs, GRUTs - not available. There are a number of estate planning techniques that are targeted at clients with substantial wealth ($11 million or more) who want to accelerate gifts during their lifetimes to their children and/ or charities, so to aggressively reduce the size of their estates. These techniques include Family Limited Partnerships, Asset Protection Trusts, Gift Retained Income Trusts, Gift Retained Annuity Trusts, and Gift Retained Unitrusts. While I have used these techniques at times in the past, I believe I serve my clients better by referring out this rarified 1% of potential clients, and focusing my talents on the situations that affect the remaining 99% of the population.

Business Buyout Agreements

Legal consultation and documentation for an internal buyout and dissolution of a corporation, LLC or partnership (as opposed to 3rd party purchases of a departing person's interest, or buyouts already contemplated in existing partnership or LLC documents) at hourly or flat rates. The flat rate service includes all consultation and drafting and/or review of all practice transition documentation (such as stock/membership/asset sale, non-competition, association, dissolution of two-person corporations, LLCs or partnerships, and landlord’s lease documents). Seller financing, 2nd lease review or new lease (for office suite owner), sale of real estate, dissolution of Seller’s corporation or LLC, SBA loan issues, deposit disputes, and post-closing litigation are not included in flat rate pricing, but are available separately.

Life Insurance Trust

Includes all Attorney Consultations, Life Insurance Trust, and Change of Ownership and Beneficiary Forms for Life Insurance Plans. Please have your completed Estate Planning Worksheet (see left sidebar) with you at our first meeting.

Tax Considerations

Careful tax planning is necessary to provide the best mix of flexibility and tax relief for heirs. Potential federal and state inheritance taxes, federal gift and generation skipping taxes, federal and state income and capital gain taxes, and step-up in basis rules, all need to be balanced against each other. Possible changes in the estate amount and tax laws, flexibility of pre- and post-death planning, and the under-appreciated problems of post-death family dynamics, all need to be carefully considered.