The best way to split assets among your children and prevent them from fighting about it after you die is to have a comprehensive estate plan in place including a living revocable trust. Just like the saying “good fences make good neighbors,” and a clear contract makes a good business relationship, so does a living revocable trust ensure there is a … [Read more...]
Child Protection Plans 101: Securing Your Kids’ Future Today
Most families with young kids put off death, emergency and guardianship planning because it just doesn’t seem that urgent. You are young, it's unlikely you will die tomorrow right? But as a result, if you die, or an accident puts you in the hospital long term, your lack of planning abandons your children to strangers. Your kids, who depend on you … [Read more...]
Should I Transfer My House To My Child While I Am Still Alive?
Before going into details, I’m just going to start out by answering this question. “Absolutely not!” Transferring property into your child’s name while you are still alive is probably one of the most horrible ideas of your life. I’m serious. Real estate transfers are not a DIY, or quick and done kind of matter, as there are many ways that the … [Read more...]
The 4 Methods of Property Transfer and How They Work Together After You Die
Very frequently, individuals call my office and say - Angel, I just need a Simple Will. I don’t have much, and I’m leaving everything to my kids and/or my spouse. I don’t need anything fancy. Or I hear, more rarely, but still sometimes - I just need a Revocable Trust for all my property - I don’t a Will or any of those other documents. I … [Read more...]
Who Should Have an Estate Plan? Do I Need One?
Right out of the gate, the resounding answer to this question is EVERYONE above the age of 18 needs an estate plan. And thus, Yes!! YOU NEED AN ESTATE PLAN. The only person who does not need an estate plan is immortal. And I would make an argument that even an immortal should have an estate plan as how else will they transfer their amassed wealth … [Read more...]
Pet Trusts in Estate Planning: Caring for Your Furry Family When You Are Gone
The law treats our fur family as property - so you cannot leave anything to your pet because according to the state they are themselves personal property. As a result, in order to make sure someone is legally obligated to take care of your furry family members after you die you need to work with an experienced estate planning attorney to create a … [Read more...]
Estate Planning For Your Special Needs Child in Washington
Planning for your special needs child can be very confusing. There are multiple different types of trusts and accounts that can be set up for an adult or child with disabilities while you are alive and well, and they all have different names, and different legal terms and conditions for how to access and where the money goes if something happens … [Read more...]
Benefits of Working With An Estate Planning Attorney Vs. Doing It Yourself (DIY) Online
It may seem cheap, quick and easy to get your estate plan done using an online do-it-yourself legal document creation service. But the downside of these DIY services is that there is NO ONE to guide you and guarantee that you have accurate, complete or even semi-functional legal estate documents in place. (Which means what you print may not even … [Read more...]
How to Appoint Long and Short Term Guardians For Your Children
Most parents of young children think - “I need a will so that I can tell the state who should parent my children if I die.” But a guardian nomination in a will can only do part of the job, as it does not actually appoint parental substitutes to act in case of emergency. Here I will explain what you need to do to ensure you have appointed long … [Read more...]
The difference between a Will and a Living Trust
What is the difference between a Will and Trust? And why do I need one or the other? This is the most frequently asked question I get from clients and potential clients. The short answer is - you need both, because they do two different things for a comprehensive estate plan. Wills: Your Last Testimony A will (i.e. a Last Will and … [Read more...]