Having the rights combination of wills, trusts, healthcare directives and powers of attorney is essential to making sure you’re properly cared for during your lifetime and that your estate is distributed in the way you want it after you die.
A will can minimize the burden of probate and estate taxes on your family’s assets after you’re gone. It can also name a guardian for your children and select an executor to take over your affairs after you die.
Whether you make it yourself or get an attorney to help you, a will is the primary way that your estate is distributed after you die. An Estate Planning Attorney in Washington can work with you to design a will that meets your specific needs.
The goal of the will is to ensure that your property and possessions are distributed to the people you want, when you want them. It also helps your family avoid disagreements and reduces the time it takes to distribute assets after your death.
A will is not limited to money, but can include everything from personal items to real estate and more. It can be simple or very elaborate.
In addition to determining how your property will be distributed, your Estate Planning Attorney in Washington can help you decide how to care for your children and other dependents with special needs after you die. They can also create trusts, which allow you to set aside assets for people who cannot manage their own finances. International Estate Planning
A trust is a legal document that holds property for the benefit of someone else. It can be very simple or very complex, and it can be used to protect the wishes of a person during their lifetime, as well as carry out those wishes after they die.
Trusts are a great estate planning tool for families who wish to retain control over their assets while ensuring that they are distributed according to certain conditions after death. They also help to minimize Washington and federal estate taxes.
Unlike wills, which only take effect after you die, trusts can be set up while you’re alive and will only need to be probated when you pass away. This can save your family time and money in the process, as well as keep your assets out of the public eye. Protect Your Legacy
An Estate Planning Attorney in Washington can help you determine the type of trust that is right for your situation, and then draft the necessary documents. Contact our office today to schedule a consultation with a member of our estate planning team.
A healthcare directive is an important planning tool that can be used to ensure your preferences are respected when you are unable to make decisions for yourself. It can also help to reduce the stress and confusion experienced by family members and caregivers during difficult times.
A health care directive usually involves appointing a person (healthcare agent or power of attorney) to act on your behalf in matters related to your healthcare. It can include instructions for life-sustaining treatments, withdrawal of life-sustaining treatment, organ donation after death and more.
Having a healthcare directive in place can be difficult for many people to discuss, but it is an important step towards peace of mind and a more comfortable end-of-life. It can drastically reduce confusion at a time when fast decisions need to be made and it can remove the guilt and uncertainty that family and friends may feel about decisions being made on your behalf.
In Washington state, a healthcare directive can be executed in the presence of two witnesses or it can be signed and sealed in the presence of a notary public or someone who is similarly authorized to take acknowledgments. You can also revoke a healthcare directive in writing.
Powers of Attorney
A power of attorney allows you to name a person or people, usually a spouse or registered domestic partner, an adult child, a friend, or a beneficiary in your will to act on your behalf, in the event that you become unable to make your own decisions. The document is revocable at any time while you have capacity, typically by providing written notice to your agent.
In Washington, a durable power of attorney (POA) can take effect immediately upon signing or it can be set to start at some future date. The POA can also be extended or changed at any time by executing another one.
It is essential that the powers of attorney you choose to give your agents are appropriate for your needs and circumstances. You should have an Estate Planning Attorney in Washington carefully draft the power of attorney for you, to ensure that it is clear in its scope and intentions, lays out specific limitations, and is legally valid and binding.