Planning for the future often raises questions about which legal documents can protect you and your family. In Washington, a will and a power of attorney serve different purposes. Having both can help address financial and family needs during your lifetime and after your death.
What a will controls after you pass
A will explains how you want your property distributed after death. It can also nominate a guardian for minor children, subject to court approval. When probate is necessary, the court uses a valid will to guide the distribution of estate assets.
A will does not authorize someone to manage your finances or make decisions for you while you are alive. If illness or injury leaves you unable to handle your affairs, you may need other legal documents to ensure someone can act on your behalf.
How a power of attorney works during your lifetime
A power of attorney allows you to authorize another person, known as an agent, to act on your behalf within the powers you grant. Depending on its terms, the document may take effect when signed or upon a specified future event.
Washington law recognizes durable powers of attorney that can remain effective during incapacity. A financial power of attorney may authorize an agent to pay bills, manage accounts or handle property transactions, depending on the authority granted.
Health care decisions require appropriate health care decision-making authority. A financial power of attorney does not automatically authorize an agent to make medical decisions. Separate or additional health care planning documents may be appropriate.
Without suitable documents, loved ones may need to seek court authority to manage certain affairs if you become incapacitated.
Why both documents can help
A will and a power of attorney address different needs. A will governs the distribution of property after death, while a power of attorney can authorize someone to act during your lifetime. A power of attorney terminates when the principal dies. After death, the will and applicable estate administration rules govern the handling of the estate.
Together, these documents can form important parts of an estate plan, but they may not cover every situation. Depending on your circumstances, you may also need health care directives, beneficiary designations or a trust.
Washington residents can benefit from reviewing their documents with a qualified estate planning attorney to ensure their choices reflect their wishes and comply with state law.