Washington residents who take the time to craft a comprehensive estate plan are doing their family and friends a huge favor. Determining the distribution of assets after death is obviously a major part of the goals for those who want to get an estate plan in place. As...
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Estate Planning
How to appoint guardians for your children
As parents, you want what is best for your kids, even if the unforeseeable happens. Perhaps, especially if the unforeseeable happens. Most parents want to make sure their kids are going to be okay if something happens to them and one part of that is by appointing...
Protecting your assets for your family
There are many reasons Washington residents choose to set up an estate plan. One of the main reasons is to keep wealth and assets in the family. This is important no matter the size of your estate. Even those with small estates could find their assets going to the...
Do you have a health care directive in your plan?
Most of our readers in Washington are familiar with wills, trusts and power of attorney documents. However, one important document can sometimes be overlooked: a health care directive. Health care directive basics Perhaps another term for health care directive – a...
Know the rules and importance of witnesses when writing a will
People in Washington State who understand the importance of having a will and take the time to write one do not want to make mistakes that could cause problems for their loved ones. However, when writing a will, it goes beyond simply deciding how property will be...
What is the Washington estate tax?
You have the right to transfer property upon your death, but if your estate is over a certain value, the government imposes a tax on that right. This is known as the estate tax, and it is widely misunderstood. Both the federal government and the State of Washington...
The importance of updating your will
Drafting a will and ensuring its validity is essential to the estate planning process. With a valid will in place, you can rest assured that your loved ones will receive the assets you want them to have following your death. Many people think that once they have...
Is a trust right for your estate plan?
Getting your estate plan in order can be a daunting task. Even if you already have one in place, life events give cause to revisit your plan to make necessary updates. Whether it is a marriage, divorce, birth of a child or a significant inheritance or increase in...
Revocable living trusts in estate planning
When Washington residents think about estate planning options, many think the easiest step is to create a will. Often, this is the wise choice. However, there are alternatives that might be better for their situation. Knowing about them while assessing their assets...
Getting your estate plan done right the first time
Many Washington residents probably made New Year’s resolutions in recent weeks. And, for some, a resolution for 2024 might be to finally get their estate plan drafted and executed. That is a good goal to have – most people put off estate planning for far too long....