Planning for the future isn’t something most people in Fairwood, Washington, look forward to. However, if you don’t have a proper estate plan in place, state law will dictate those decisions for you. Call Elevated Estate Planning, P.S. at (509) 328-2150 for a consultation with a Fairwood estate planning lawyer.
Our legal team has 25 years of combined experience helping clients build plans that protect their loved ones and preserve what they’ve worked hard to build. We’ll take the time to learn about your situation and walk you through the options that make the most sense for your family.
How Elevated Estate Planning, P.S. Can Help You Plan for the Future in Fairwood, Washington
Our Fairwood estate planning attorneys at Elevated Estate Planning, P.S. will build a plan tailored to your specific goals and circumstances.
We can help by:
- Evaluating your assets and family situation to determine the right planning approach
- Helping you structure your plan to minimize or avoid probate
- Advising on strategies to reduce exposure to Washington’s state estate tax
- Updating your existing plan after major life changes
- Guiding your family through trust administration or the probate process when the time comes
Get in touch with our law office serving Fairwood, WA, today to set up your consultation. The sooner you start, the more options you’ll have.
The Estate Planning Process in Washington State
If you pass away without a will, Washington’s intestate succession laws dictate how your property is distributed. As a community property state, Washington generally treats assets acquired during a marriage as belonging equally to both spouses.
If there is a will in place, the estate typically will go through probate. That process involves:
- Filing the will with the Superior Court
- Appointing a personal representative to manage the estate
- Settling outstanding debts and taxes
- Distributing the remaining assets to beneficiaries
Probate isn’t always required in a Washington State estate plan, though. Whether your estate needs to go through the process depends on what you own and how your assets are titled.
We Can Help With Every Type of Estate Planning Matter in Fairwood, WA
With a quarter century of combined experience, our estate planning attorneys in Fairwood can help you with any situation. Below are some of the most common matters we handle.
Wills
A last will and testament is the foundation of most estate plans. For one, it lets you spell out exactly who should receive your property after you pass. You can also use your will to appoint an executor to manage the estate through probate and to name guardians for any minor children.
To be valid in Washington, your will must be in writing and signed by you. At least two witnesses also need to sign it for it to comply with state law.
Trusts
Trusts offer more flexibility and control than a will alone. A revocable living trust lets you manage your assets during your lifetime and transfer them directly to your beneficiaries after you pass, without going through probate.
Depending on your goals, other types of trusts may also be worth considering as well, such as:
- Irrevocable trusts for asset protection and estate tax reduction
- Special needs trusts to provide for a loved one with a disability without affecting their government benefits
- Testamentary trusts to manage assets on behalf of young children after you pass
Our attorneys can help you determine which option fits your family’s situation best.
Powers of Attorney and Healthcare Directives
A financial power of attorney lets you name someone you trust to manage your finances if you’re no longer able to do so yourself. Without one, your family may have to go through a court guardianship proceeding just to access your accounts and pay your bills.
A healthcare directive works the same way on the medical side. It lets you put your treatment wishes in writing and name someone to make medical decisions on your behalf if you can’t make them yourself. Together, these documents make sure your family has both the authority and the guidance they need if something happens to you.
Schedule a Consultation With Our Fairwood Estate Planning Attorneys
The right estate plan gives you peace of mind knowing that your family is taken care of, your wishes will be honored, and your loved ones won’t be left dealing with unnecessary legal headaches down the road. The sooner you get things in place, the more options you’ll have.
Our Fairwood estate planning attorneys at Elevated Estate Planning, P.S. have 25 years of combined experience helping families protect what matters most. Contact us today to get started with an initial consultation.