ESTATE PLANNING & PROBATE ATTORNEY IN BELLEVUE

When you think about what you want to happen to your property when you die, you may think all you need is a Will. A Will is not enough for many people in the Bellevue, Washington, area, but most people don’t even have a Will, so you can give yourself a pat on the back if you do.I encourage you to think about the emotions and relationships of your surviving loved ones first, and then consider how giving away property expresses how you feel about them and communicates your wishes for the remainder of their lives.With that in mind, I think it becomes clear why listing sentimental items such as jewelry, art, antiques, photos, scrapbooks, and collectibles is especially important to how your surviving family members feel. It becomes clear why not making your Personal Representative post a bond or seek permission from the Court to act is important. It becomes clear why appointing health care agents and giving them written instructions regarding serious health decisions is important.

Understanding Your Estate Planning Needs

A number of factors determine your estate planning needs and it is important for you to discuss your unique circumstances with a skilled lawyer. For almost all estate planning clients, I draft a:

  • Last will and testament, which will allow you to appoint the Personal Representative (Executor) of your Estate to serve without bond and with the power to act without Court intervention, and to name your own beneficiaries instead of those named by default by statute.
  • Financial power of attorney through which you select someone you trust to handle financial matters for you when you are not able to do so, which makes a potentially expensive and time-consuming guardianship proceeding less likely.
  • Health care power of attorney through which you choose people you trust to make health care decisions for you when you are unable to do so for yourself, which makes litigation about who has control and what they are authorized to do less likely. You also indicate your wishes regarding organ donation.
  • Living will or advance directive in order to state your wishes if you are in coma, doctors don’t believe you will come out of it, you are on life support, you have a feeding tube, and IV fluid. You state whether you want life support withdrawn, and whether you want your agent to be able to withdraw the feeding tube and/or IV fluid.

Many clients also benefit from a revocable living trust, which can allow them to:

  • Distribute gifts to young beneficiaries over time, helping them avoid mishandling a windfall.
  • Set guidelines for distributions to vulnerable people, such as those with disabilities or addictions, so that the assets or money will be used appropriately, and to their benefit.
  • Keep their estates private. Trusts bypass the probate process, through which your estate property would become a matter of public record.
  • Clarify separate and community property rights (sometimes in combination with a pre- or post-nuptial agreement) for the protection of spouses from each other in the event of divorce and potentially from creditors of the community.

Clients who own real estate also benefit from a transfer on death deed, which can allow them to:

  • Avoid probate on any real property they own; making home equity not subject to creditor claims.
  • Avoid estate tax on home equity.

I provide complimentary initial consultations regarding estate planning, bankruptcy, and real estate to potential clients. Please email me at chris@attorneymulvaney.com to schedule your obligation-free consultation.

For more information, including Top 10 Estate Planning Pitfalls, consult my Blog.

 

MULVANEY LAW OFFICES, PLLC
14205 SE 36th St. Suite 100
Bellevue, WA 98006-1553

Email:  chris@attorneymulvaney.com

Phone: 425-998-6352
Fax: 425-223-3197

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Mulvaney Law Offices,PLLC, is located in Bellevue, Washington, representing estate planning & probate, chapter 7 and chapter 13 bankruptcy, and real estate transactions clients in Seattle, Tacoma, Everett, Bellevue, Redmond, Renton, Issaquah, Sammamish, Maple Valley, Burien, SeaTac, and throughout King, Snohomish and Pierce counties.