Comprehensive Estate Planning Services in Spokane, Washington
While it’s not exactly fun to plan for the possibility of getting injured or becoming ill, or the inevitability of dying, doing so can bring the peace of mind you need to be present and enjoy life to the fullest. Not to mention, failure to plan for these possibilities can have disastrous consequences. A Spokane estate planning attorney understands the necessities of planning for the future and can help you to navigate the process.
At Evergreen Elder Law, our estate planning lawyers will help you plan for the unexpected and the inevitable. Whether you are a young family with a modest income, or an older couple with substantial assets, we can help.
The most common Estate planning matters we handle include:
Your estate is comprised of all that you own, including real estate, vehicles, bank accounts, retirement accounts, art, jewelry, collectibles, and other personal property. An estate plan ensures that these assets are distributed per your wishes and your family is protected from avoidable taxes and the costly process of probate. An estate plan can also name guardians for minor children, and name who will make medical and financial decisions on your behalf if you become incapacitated.
We can help you get your affairs in order so that you can rest easy knowing everything has been completed in advance of any emergency. Contact us today for a free consultation.
Reasons You Need an Estate Plan in Eastern Washington
While there are a variety of reasons why people decide to meet with a Spokane estate planning attorney and create an estate plan, some of the most common include:
- Avoid Probate
A probate is the process of validating a deceased person’s estate by placing a value on their assets, paying their debts and taxes, and distributing to heirs. Avoiding probate is by far the most common reason why people seek out the advice of an estate planning attorney. Probate can be costly and time consuming. For the vast majority of people, avoiding probate is a very good reason for creating an estate plan and can be easily achieved.
- Avoid Estate Taxes
The significant loss of one’s estate to the payment of state and federal estate taxes or state inheritance taxes is a great motivator for many people to put an estate plan together. Through the most basic planning, married couples can reduce or even possibly eliminate estate taxes altogether by setting up Specialized Trusts. A variety of advanced estate planning techniques can be used by both married couples and individuals to reduce or completely eliminate estate or inheritance taxes.
- Avoid a Mess
Many clients seek advice of an estate planning attorney after personally experiencing or knowing someone who has experienced a messy estate. A messy estate can be a waste of time and money. Choosing someone to be in charge if you become mentally incapacitated or die–and deciding who will get what, when they will get it, and how they will get it-will go a long way towards avoiding family fights and costly probate court proceedings.
- Protect Beneficiaries
There are generally two main reasons why people put together an estate plan to protect their beneficiaries: To protect minor beneficiaries, or to protect adult beneficiaries from bad decisions, outside influences, creditor problems, and divorcing spouses. If the beneficiary is a minor, you want to make the provisions for the distribution at certain ages and provisions for an adult to oversee the inheritance. If the beneficiary is already an adult that’s bad with money or has an overbearing spouse or partner who you fear will squander the beneficiary’s inheritance or take it in a divorce, you can create an estate plan that will protect the beneficiary.
Frequently Asked Questions About Estate Planning in Spokane, Washington
What Shall I Include in my Estate Planning?
Evergreen Elder Law can help you determine if you need a Will, Revocable Living Trust, Power of Attorney, or Healthcare Directive. We ensure that your wishes are clearly defined even if you can’t verbalize decisions yourself. Don’t leave these important decisions to your family and friends.
Why Do I Need a Lawyer for Estate Planning?
The laws can be complex. Don’t risk making a mistake by doing it yourself. Evergreen Elder Law is here to guide you through the process, answer any questions, and plan for the future. If there are mistakes in your documents your friends and family could find themselves with a mess. One of our priorities is making sure you and your estate stay protected in times of incapacity or death.
What Does My Estate Consists of Of?
Your estate consists of all the assets that you own. This includes investment properties, real property, vehicles, jewelry, collectibles, bank accounts, securities, and retirement accounts. Let our estate planning attorneys help you ensure that all of your belongings are distributed according to your wishes.
How Many Kinds of Trusts Are There?
There are many types of trusts including testamentary, discretionary, irrevocable, and special needs trusts. Our team will help you choose the best option for you and your family.
Will You Help Me Decide Between a Trust or Will?
Evergreen Elder Law is here to answer any questions you may have when determining your estate planning. Depending on your needs we can make a recommendation on what plan will be the best for you.
Who Should I Choose for My Power of Attorney?
When you can no longer make decisions, it is critical for you to have a power of attorney to manage your finances and property. This is often a friend, family member or trusted advisor.
Further Questions About Estate Planning In Eastern Washington?
We know estate planning can feel overwhelming or like it’s “not for you”. But estate planning is not only for the wealthy – we help people from all walks of life to ensure their assets and finances are properly managed after their death. We offer free consultations online, over the phone, or in our convenient office located in Spokane.
If you have more questions about estate planning but aren’t quite ready for a consultation, you can also choose to sign up for our free estate planning webinar. To learn more, please visit our ‘Free Webinar Recordings’ page.
Contact a Spokane Estate Planning Lawyer Today
Contact our experienced and knowledgeable staff to avoid serious mistakes. We can guide you each step of the way. Set up a free consultation so we can apply our expertise and get a comprehensive plan in place.