As you create your estate plan, a lot of attention will be devoted to whom you’ll leave your assets and in what fashion. While figuring out asset distribution is certainly a major aspect of the estate planning process, it isn’t the only issues you’ll want to be sure...
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Estate Planning
Can pets inherit property in WA?
If you regard your pet as a family member, you might question whether they can inherit your assets after your death. Although pets cannot legally inherit property in Washington, there are estate planning tools that can ensure their continued care. Legal restrictions...
Why choose a revocable living trust?
When deciding between a trust or a will, a revocable living trust stands out as a versatile and powerful option that blends control, flexibility, and efficiency. It gives you full control and the freedom to adjust your assets as you see fit. It helps you skip probate...
What are the main components of an estate plan?
Estate planning ensures your assets are managed and distributed according to your wishes after your death. It involves several key documents that protect your interests and those of your loved ones. Understanding the main components of an estate plan will help you...
How to update a will
Your estate plan works best when every part of it stays current. Updating your will in Washington is an essential part of keeping your estate plan aligned with your current life circumstances. As your life changes, your will should change too. Understanding the need...
How do TOD accounts work?
You want your financial assets to be distributed according to your intentions after your death. A Transfer on Death (TOD) account offers a pragmatic and efficient mechanism for achieving that goal. It expedites asset transfers and circumvents the probate process. What...
Five major risks of DIY estate planning
The internet is full of self-help resources and guides. Therefore, when you start to consider estate planning, you might think that it’s an issue that you can tackle on your own with a little help from online tools. While it might seem like this approach will save you...
What is a pour-over will, and how does it work?
A pour-over will is a legal document that helps transfer assets to a trust after death. It works in conjunction with a living trust, ensuring that any property not already included in the trust is moved there upon your death. The main goal is to simplify the estate...
What should you know about naming beneficiaries in Washington
Many Washington residents think their will covers all their assets after death. But here's a key fact: beneficiary forms often override what's written in your will. This oversight leads to assets going to unintended people, even with a properly written will in place. ...
Special needs trusts: Planning for loved ones with special needs
When you plan your estate to help a loved one with special needs, you need to know the types of Special Needs Trusts (SNTs) you can choose. These trusts allow you to support your loved ones financially without risking their eligibility for government benefits such as...
