If you have a child with special needs, you may worry about his or her care after your death. While you may use your estate plan to leave assets to your son or daughter, doing so may render him or her ineligible for vital needs-based government benefits. To ensure...
Estate Planning
Pass on property, bypass probate with a transfer-on-death deed
When you own a property in Washington and want to leave it to a loved one after your death, one way to do so involves something called a transfer-on-death deed. A way to leave your home behind to someone without listing it in a will, the transfer-on-death deed offers...
Estate planning challenges for blended families
While estate planning is important for everyone, it is of particular concern if you are part of a blended family. You or your spouse may have children from a previous relationship as well as with each other. If you do not have an estate plan or it is insufficiently...
Problems that can arise from a community property agreement
Many Washington state residents choose to bypass probate by leaving the entire estate to the surviving spouse. Depending on your circumstances, this arrangement, called a community property agreement, may not be appropriate for your estate. These are the common issues...
Part of handling an estate is paying the decedent’s debts
As a country, America has around $13 trillion in debt. People who are 45 to 54 years old have the highest debt average at $134,600. This brings up a point that many people might not think about very often -- the status of debts when a person dies. This can be a...
Are you ready to create your estate plan?
Protecting your estate may take many forms, depending on your particular needs and the goals that you prioritize. However, some pieces of wisdom apply to anyone creating or maintaining an estate plan. If it's been some time since you revisited your estate plan, or if...
3 facts to know about using a special needs trust
A special needs trust makes sure your child with special needs has what he or she needs in the future in the event that you can no longer be there to provide or care for your son or daughter. The trust may also be created to give another person control over your...
Creating a trust in your 30s: Learn about the types first
Once you reach your 30s, it's safe to assume that you have a better idea of what you want to accomplish in the future. By now, you may even own a home and have a child (or several children). With all this in mind, it's important to create an estate plan that can give...
Small business owners must prepare for the inevitable
Your family has come to enjoy the finer things in life, and that is all thanks to your hard work. You have built your company from the ground up and now you are getting to enjoy doing the things you have always wanted to do. Even though things seem great right now,...
Estate planning for blended families
Planning for the future through an estate plan is a foundational part of providing for your loved ones - and securing your own peace of mind. Estate planning is especially important for those with blended families. If you or your spouse have prior marriages (or...