Estate planning may start with the division of assets, but that’s not all that it can do. Your estate plan can also be set up to plan for your medical future. This is often very important to consider for those who are making an estate plan as they age, when certain...
Estate Planning
Why are wills contested?
A will is a legal document that outlines a testator's last wishes. Testators typically include beneficiaries who can inherit from an estate. If someone associated with the testator questions the authenticity of a will, they may challenge it in court. Here’s why that...
Can a personal representative be paid in Washington state?
Dealing with the administration of someone’s estate can be a pretty complicated job, and it’s often time-consuming and emotionally taxing. It’s not unreasonable (or even unusual) for an estate’s personal representative to receive compensation for their services. If...
What if you suspect someone influenced your loved one’s will?
No one ever wants to believe someone took advantage of or unduly influenced a loved one during their final days. Unfortunately, it happens more than you may think, and most families never know what happened until their relative dies. Undue influence occurs when...
When to change your personal representative
Your personal representative is tasked with ensuring that your final wishes are carried out as instructed. Obviously, this is an important role, so it’s important to choose the right person for the job. It’s possible that circumstances change in the life of your...
Should you create a trust?
When you think of trusts, you probably imagine some wealthy family living off the funds of a tycoon ancestor. And, while there are plenty of “trust-fund babies,” you don’t need considerable wealth to create a trust fund. There are plenty of good reasons why anyone...
How effective is a no-contest clause in protecting your will?
Let’s face it, we live in a highly litigious society. Sometimes, unfortunately, a dissatisfied family member can go to court over a will. And as you can imagine, this can prolong the probate process and sow lasting seeds of animosity. It can also eat up a huge chunk...
Update your estate plan after these life events
An estate plan should be updated periodically. Some people do this just by determining the frequency of those updates. They decide they want to update the plan every three to five years, for instance. But this can sometimes be problematic because there are certain...
Is a will the only thing you need in your estate plan?
Having a legal will in place can help your family and friends understand how you wish your estate to be handled after your passing. You can use your will to designate a personal representative to handle the probate process, clarify your wishes regarding the...
Is long-term care insurance a solution for older adults?
Moving into a nursing home is a decision many people would prefer to avoid if possible. While it is a smart move to plan for aging in place early in the retirement process, those preparing for retirement also need to accept the possibility that they might require...