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August 2017 Archives

Transferring a home to heirs while still alive can have benefits

With the increase in Baby Boomers in Washington and across the country, working out an estate plan is becoming more and more important. For many people, their house is their most valuable asset, meaning that it can play an important role in estate planning. Leaving a home to an heir before passing away can bring benefits for both parties.

What are some basic types of trusts in Washington?

Most Washington State residents are at least aware that trusts exist. Even if they are only familiar with them due to television depictions of wealthy people, or because of certain cultural references like 'trust fund kids,' they probably have at least some idea that these instruments are used in order to distribute wealth under certain controlled conditions. However, in reality, trusts are not only for rich people, and can be useful for many different kinds of estate planning. Further, there are a number of different types of trusts that are used for different purposes.Today, we will look at two very basic forms of trusts: 'inter vivos' (during life) and testamentary. Both of these trusts can be used by Washington residents to implement their estate planning desires, but they work in slightly different ways.

What does the probate process look like in Washington?

The word "probate: usually invokes horror stories from Washington residents. But, the truth is probate is not as bad as some would lead you to believe. For this reason, knowing the probate process may be helpful to ease the fears in families.

The importance of sharing an estate plan

Estate planning is one of the most important legal things a Kent-area family can do. When a person takes the time to create an estate plan they are leaving a gift for the family when the individual passes away. Because of this planning ahead, the family will know their loved one's wishes, and their assets will be protected.

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Contact Us
Phone: 425-336-2908
Fax: 509-769-0202