Puget Sound Wills
Estate Planning FAQ
What topics will be covered in my complimentary initial consultation?
- How would you like to distribute your assets?
- Who would you appoint as the Personal Representative/Executor of your estate?
- Who would you appoint as guardian of your minor children?
- Who would you trust to make financial decisions for you if you were incapacitated?
- Who would you trust to make health care decisions for you if you were incapacitated?
- If you were diagnosed in a permanent unconscious state, how would you like doctors to respond?
What should I bring with me for my complimentary initial consultation?
What is a Last Will and Testament?
A Will is a legal document prepared and executed during your lifetime to provide instructions for the division of your property, the care of your minor children, the handling of your estate, and other important matters after you pass away. For many people, a Will is the most important document they will execute in their lifetime. The significance of a Will depends less on the size of the estate than on the types of assets and complexity of your wishes. Wills become a matter of public record upon death.
How do I make changes to my existing Last Will and Testament?
For major changes, executing an entirety new Last Will and Testament is the most efficient way to make those changes. Once a new Will has been signed into effect, you would simply destroy the original copy of your previous Last Will and Testament.
For minor changes, executing a Codicil to your Last Will and Testament is the most efficient way to make those changes. A Codicil can change a part of your existing Will or add a whole new provision.
For more information on Wills, click here to access the Washington State Bar website.
What is a Revocable Living Trust?
A Revocable Living Trust allows you to transfer your property into a Trust which is owned and managed by you during your lifetime. Upon your passing, your Successor Trustee can administer the Trust without having to go through probate.
For information on Revocable Living Trusts, click here to access the Washington State Bar website.
What is a Durable Power of Attorney?
A Durable Power of Attorney authorizes another person to act on your behalf legally. You can grant someone a very narrow power of attorney, such as the power to sell a particular item, or very broad power, such as complete control of all your property. A Durable Power of Attorney ensures that, in the event you are incapacitated or unable to make decisions about your financial affairs or medical options, a designated person can attend to your financial or medical obligations.
What is Health Care Directive?
Sometimes called a “Living Will,” a Health Care Directive is a legal document that ensures that medical decisions are made according to your wishes in the event of an emergency.
What is a Community Property Agreement?
A Community Property Agreement is a legal document executed between a married couple to ensure that, upon the death of the first spouse, any jointly owned property will transfer to the surviving spouse. A Community Property Agreement will avoid probate proceedings after the first spouse has passed away.
What is Probate?
Probate is a court-supervised legal process that determines the validity of the Last Will and Testament, gathers any assets, pays any debts or taxes and then distributes any remaining assets to the beneficiaries. If there is no Last Will and Testament, the court will distribute your assets according to the Washington laws of inheritance. Probate proceedings protect all those who have an interest in your property, such as immediate family, joint tenants, creditors and taxing authorities. In the state of Washington, any estate worth more than $100,000 or owning any real property must go through probate proceedings before any assets can be distributed.