A custodian is an individual or organization that has been appointed by the court to manage and access the accounts of minors in the event of death or incapacitation of the parent/guardian. The custodian can be responsible for managing investments, insurance policies,...
Knowing who your beneficiaries are and how they receive their inheritance is a critical part of estate planning. It’s important for trustees, executors, and other individuals responsible for distributing assets to understand the legal rights and obligations involved...
When you are writing a will, you will need to consider the gross estate you are leaving behind. This is the total value of all your assets minus any debts you may have. You will also need to decide whether you will be creating a will for a probate estate or...
Are you interested in donating some of your assets to your favorite charity? A charitable contribution in your will is a great way to make this happen. However, there are a few key factors you should keep in mind before you put your wishes into action. Cash is the...
Upon death, a Washington State estate may be subject to an estate tax. The rate ranges from 10% to 20%. There are a number of options for reducing the tax, such as irrevocable life insurance trusts (ILITs). ILITs are not part of your estate ILITs, or irrevocable life...
Having a Community Property Agreement can benefit a married couple, but there are also some pros and cons to having such an agreement. Disadvantages Despite the advantages of having a Community Property Agreement, there are some unintended consequences that can...
Writing a will is an important part of planning for the future. It provides a guide for a family when your someone passes away. Besides ensuring that your loved ones are taken care of, a will also helps you protect your parents' assets. A will can be simple or...
Wills can be contested for several reasons. These can include lack of testamentary capacity, undue influence, or fraudulent calumny. In addition to these reasons, some other factors that can cause a will to be contested. The purpose of this article is to provide...
Over the years we have posted some very informative blogs. I've compiled a list of some of our earliest posts that still hold a lot of good information. "Who Gets the Rolex?"--A few years before she died, my Nana started sending me things from her home in Kalamazoo,...
DNR and POLST Instructions: What you need to know A DNR, or Do Not Resuscitate, is a medical directive that instructs medical staff not to perform any form of resuscitation if a patient has stopped breathing or heartbeat. The State of Washington has...
Holographic Wills Holographic Wills (are written in the testator's handwriting) are legal in some states, but not the State of Washington. Partly because proving their validity can be difficult and some states require the testimony of a handwriting expert. Another...
List of Past Blog Posts List of Past Blog Posts Instead of searching through pages of past blog posts I've created a quick reference list with brief summaries and links to the original article When the Rich & Famous Fail to Plan Too often we read stories in the...
Estate planning is one of the most important things you can do for your family and loved ones. In the case of an unexpected death, your assets will go to the intended beneficiaries, and whether your passing is expected or not, a will can help you avoid probate or...
Why Do Some Families Fly Separately? This is a surprisingly controversial question. While some families choose to fly separately in case there is a tragedy and one parent is killed in a plane crash the other will be able to care for their children. The...
There are many different things to consider when deciding who will be the executor of your estate.
Direct who should be in charge of your estate and where your estate will be distributed.
For married couples to confirm they want their estate to go to each other without going through probate.
Give authority to someone to make medical decisions for you if you become incapacitated.
Give authority to someone to make financial decisions and manage your finances for you if you become incapacitated.
Tell your family if you want to receive life-sustaining treatment if you're in a permanent unconscious state or vegetative state.
Tell your family if you want to receive life-sustaining treatment if you're in a permanent unconscious state or vegetative state.
