Christopher S. Mulvaney,

Attorney and Counselor-at-Law

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THIS WEBSITE INCLUDES GENERAL INFORMATION & THE OPINIONS OF CHRISTOPHER S. MULVANEY. IT IS INTENDED TO STIMULATE A BASIS FOR QUESTIONS RELATED TO YOUR PARTICULAR FACTUAL CIRCUMSTANCES — BEFORE YOU ACT.  THIS WEBSITE DOES NOT CONSTITUTE LEGAL ADVICE. IF YOU WANT LEGAL ADVICE, PLEASE MAKE A ZOOM APPOINTMENT TO SPEAK WITH ME.

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The use of email or this form for communication with MULVANEY LAW OFFICE, PLLC does not establish an Attorney-Client Relationship. If you don’t think I have responded, please check your spam folder. Time-sensitive information should not be sent through this Form or through email. Sensitive information can be uploaded to an encrypted Dropbox folder in your client file. Google Review Link Yelp Review Link

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Gonzaga University School of Law – Spokane, Washington – Class of 2002 – Cum Laude The Latin phrase “Deo patriae, scientiis, artibus” translates to “For God and country through sciences and arts”.  The initials A.M.D.G. on the seal of Gonzaga Law School stand for Ad Majorem Dei Gloriam, which is Latin for “For the Greater Glory of God” the Motto of the Society of Jesus (Jesuits): a Catholic religious order founded by St. Ignatius of Loyola.

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You should never leave beneficiary designations blank on accounts like retirement accounts, life insurance policies, and bank accounts because doing so can lead to several problems: 

• Probate: If you don’t name a beneficiary, the assets in these accounts will have to go through Probate.
  • Lengthy and Costly: Probate can be time-consuming and expensive, causing delays in distributing your assets to your loved ones.
  • Unintended Beneficiaries: Without a named beneficiary, your assets will be distributed according to Washington intestacy laws, which may not align with your wishes and could result in unintended individuals receiving your assets.
  • Creditor Claims: If your estate goes through Probate, your assets, including those without a beneficiary, could be subject to claims from creditors, potentially reducing the amount received by your intended heirs. Named beneficiaries do not have to pay creditors of the Estate. However, if a Revocable Living Trust is named as Beneficiary, the Successor Trustee is supposed to pay creditor claims, but there isn’t anyone enforcing that requirement if they just don’t do it.
• Delays and Complications: Naming a Beneficiary simplifies the process of transferring assets after your death, allowing your loved ones quicker access to the funds when they need them most.
• Tax Implications: For certain accounts, like retirement accounts, not naming a beneficiary can lead to unfavorable tax consequences for your heirs, such as the requirement to withdraw all funds within a short period and pay taxes on those withdrawals.
• Loss of Control: Without a named Beneficiary, you lose control over who inherits your assets, and the distribution may be determined by default rules of the financial institution or Washington state laws, which might not match your intentions.
• Family Conflicts: Clear Beneficiary Designations can help prevent disputes and potential legal battles among your family members after your death. 

In summary: Naming a Beneficiary is a simple yet crucial step in ensuring your assets are distributed according to your wishes, minimizing delays and complications, and potentially saving your loved ones from the burden of Probate and associated costs. 

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Washington State residents can meet with me in Zoom/DocuSign from anywhere in the world, and I can notarize their electronic signatures because I am a remote online notary.  Just email me an image of your photo ID.