There are many families in the Kent area who have had a divorce in the family. Especially for older residents, divorce is common. Estate planning for families who have multiple spouses and children from multiple marriages can be complicated. A QTIP trust may be a good option in these situations.
Many Kent area families understand the importance of an estate plan. But, over 75% of people do not have a will and a large percentage of the rest of the population do not have an estate plan in place. Not having an estate plan puts a person's assets in jeopardy when they pass away. There are many reasons why having an estate plan is important, regardless of age.
Many people in Washington have a cat, dog, bird or other animal companion. Having a pet can bring much joy to a person's life, as our pets provide us with companionship, comfort and unconditional love. With this in mind, as a person ages, they may have concerns about what will happen if their pet outlives them.
Many Kent area residents have taken the time to analyze their estate plan and create one that makes sense for their unique situation. Every family is different and estate planning needs vary on many factors. For some, a will may not be enough to address all needs and a trust may need to be considered.
"Living trusts" is an estate planning buzz word that many Kent area residents have heard of, but may not understand what they are. They can be a valuable estate planning tool for many families, but mistakes can be made with them as well.
Most Kent area residents have estate planning on their to-do list. But, like many things that should be done, it is often pushed to the side until a better time. So, when is a good time to work on estate planning?
Those who are advanced in age in the Kent area know how important having an estate plan can be. There are specific documents that an older person should have when it comes to estate planning.
There are many unmarried couples in Washington. Many of these couples have been together for decades and, for whatever reason, have not found it necessary to get married. These couples may have important estate planning topics they may want to explore.