One of the major parts of estate planning is simply passing your assets onto your heirs and any other beneficiaries that you choose. Many of these assets are financial in nature. You may have investment accounts, bank accounts and much more. One option that you have...
Estate Planning
Questions to ask yourself when making a medical power of attorney
The true advantage of estate planning is the power it gives people to retain control over many aspects of life. It allows you to preserve your assets, provide for your family and control your healthcare through all stages of life and health. In medical matters, most...
Who needs access to your advance directive for health care?
An advance directive for health care is one of the most important elements in your estate plan. Even if you don’t have a will in place yet, it’s wise to draw up this advance directive to “speak” for you if you can’t speak for yourself. An advance directive lets...
Can you disinherit immediate family members in Washington?
There is a prevalent cultural expectation that people will leave their most valuable assets for family members when they die. This belief is so strong that state law even reinforces it with intestate succession laws. Spouses and children have legally protected rights...
Does your will reflect your current family dynamic?
There are numerous reasons to create a will and other estate planning documents, but none are more important than your family. You want to make sure that your assets go to the right people upon your death. Thus, it’s important to ensure that your will reflects your...
What should every estate plan include?
Estate plans are complicated legal documents that include many considerations. Planning your estate shouldn’t be difficult, however. If you’re looking to plan your estate, you may find it easier after knowing what to include. Here’s what you should know: Wills and...
Why are some wills contested?
A will is an invaluable part of any estate plan. As you’ve worked so hard for your savings and assets, you want to be assured that they go to the right people if something happens to you. A will can offer you this reassurance. Of course, this only goes to plan if the...
What’s the difference between revocable and irrevocable trusts?
A trust is a powerful estate planning tool if you are interested in safeguarding your future and loved ones. Done right, a trust can save time, reduce unnecessary paperwork and ensure that your assets pass down to your intended beneficiaries. However, not all trusts...
What should you know about electronic wills in Washington?
The state of Washington made some big changes to the way that wills can be created and maintained. Thanks to the Electronic Wills Act (EWA), residents of this state can now execute and store their wills entirely online as of Jan. 1, 2022. What exactly does this mean...
What are an executor’s responsibilities if a beneficiary is missing?
When you agreed to be an executor for a close friend’s or family member’s estate, they may have assured you that their estate plan was detailed, organized, straightforward and would be easy to administer. For the most part, it is. There’s just one problem: You can’t...