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...
If you’re a married couple who’s been together for many years and want a simple estate plan, you may be considering a joint will. You likely want whichever spouse outlives the other to inherit all your assets and then pass them on to your children or favorite...
In many cases where a child is disinherited, the reason is the negative event that took place between the child and the parent. Maybe they simply don’t have a very good relationship and don’t communicate often. Perhaps they had a complete falling out and aren’t even...
A personal representative administers the estate during the probate process. This is the period between the death of the testator and the heirs taking over ownership of their inheritance (closing the estate) as laid out in the will. While it is a court-controlled...
You likely want the assets you’re able to leave your loved ones in your estate plan to make their lives easier. Maybe they can buy a larger home, worry less about how they’re going to pay for their kids’ college educations, put away some extra money for retirement and...
