Estate plans can help people address many of the uncertainties that are commonly associated with the later stages of life. They can provide support for their loved ones and find a way to leave a meaningful legacy when they die while also addressing their medical needs...
A Totten trust, also known as a payable-on-death (POD) account or an informal trust, is a type of bank account that you can set up to transfer funds to a designated beneficiary upon your death. Accounts that are covered by this type of trust shouldn’t be included in a...
If you’ve never been through the estate planning process before (or even if you’re just updating things now that you’ve reached a new stage of life), there’s one word that can be used to describe it: Confusing. It doesn’t have to be this way, though. Working with...
Estate planning is the legal process that largely revolves around distributing your assets upon your death. That being said, there are also other aspects. For example, you can assign someone to manage your healthcare needs and financial interests should you become...
A trust is a legal entity that enables you to give another person the right to hold title to your assets and property for the benefit of your beneficiaries. When done right, a trust can help protect your assets and heirs from probate court and creditors....
You love your family members equally, but you have no illusions about some of their weaknesses. Some may be in the grips of a substance abuse disorder or married to partners who have absolute control of the marital finances. Others may just be bad at managing their...
It’s not uncommon for people to draft their wills and other estate plan documents without consulting family members and others about whether they want and/or can use the assets they’re leaving them. As a result, you may have recently come into possession of an asset...
In Washington, digital wills are allowed and recognized. In 2022, the uniform electronic wills act took effect, allowing testators to create and execute wills essentially from the comfort of their homes. Since most people live busy lives, digital will execution sounds...
Estate plans are the most effective way to pass down assets to your loved ones when you die. These plans have several different components that work together to make your wishes known and enforceable. One of the tools that you might use when you’re setting up your...
If you are planning on using trusts as part of your estate plan, you should also consider a pour-over will. These can help you ensure that you account for all of the assets you own when you die. It is essential if you base your estate plan on a trust rather than a...
