Making a trust irrevocable does not, by itself, protect assets from creditors in Washington. Who creates the trust and who benefits from it can make a big difference. If you put your own assets into a trust for your own benefit, your creditors may still reach those...
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Estate Planning
How to use a separate property memorandum with your will
A separate property memorandum lets you direct who should receive certain personal items without changing your entire will. In Washington, this tool can help you manage gifts of sentimental property while keeping the main estate plan in place. This document works best...
Who manages your finances if you become incapacitated?
A serious illness or sudden injury can leave you unable to manage your own finances. Bills still need to be paid, bank accounts still need attention and property expenses do not stop. Without a plan, your family may face delays or court involvement while trying to...
What happens when a living trust is not fully funded?
Creating a living trust can be an important part of an estate plan, but signing the document is not always the final step. If assets are not properly coordinated with the trust, the trust may not control or receive those assets as intended after your death. That can...
What is a testamentary trust in Washington?
A will can do more than name who receives your property. It can also create a trust that controls how and when a beneficiary receives assets. This arrangement, called a testamentary trust, can help someone provide an inheritance while keeping assets under management...
What happens if you die without an estate plan?
Many people delay estate planning because they believe it is only necessary later in life. However, failing to create an estate plan can leave important decisions about your property, finances and family in the hands of Washington state laws. When someone dies without...
Traits to look for in a personal representative in Washington
Choosing a personal representative is one of the most important parts of estate planning. This person will manage your affairs after you pass away. They will distribute assets, pay debts and carry out your wishes. Choosing the right person can help your family move...
No children? Estate planning beyond inheritance
If you do not have children, you may assume estate planning has little to offer you. But while you may not need to name a guardian or manage a child's inheritance, you still face important decisions about your future and property. An estate plan can document your...
Why do new parents need a will in Washington?
Congratulations on welcoming a new member to your family! With your busy schedule, you likely have new priorities to focus on: your child’s future and how your will directly shapes it. Here’s why you should consider adding a will to your family’s plan. Why should you...
5 estate planning tips for newlyweds in Washington
Estate planning is rarely the top priority for a newly married couple. However, since Washington is a community property state, making early estate planning decisions is a smart way to protect your spouse and ensure your combined assets are handled according to your...
