Frequently Asked Questions About Wills And Estates
The process of making an estate plan comes with a lot of questions on its own, but there are plenty of questions before starting the process, too.
These are answers to some of the questions we hear most often:
What can be included in an estate plan?
Depending on your age, health and financial situation, a lot of documents can be included in an estate plan. While some pieces to an estate plan may seem irrelevant, you may still want to consider them so that the question is answered before there is a conflict.
Common documents in an estate plan include:
- Wills and/or trusts
- Living wills
- Powers of attorney for financial decisions
- Powers of attorney for health care decisions
Is an estate plan for people who make a certain amount of money?
Estate plans are not only for people with a lot of assets. Even if you are not concerned with who will get your assets after you die, an estate plan can provide peace of mind for you and your loved ones. An estate plan helps your loved ones answer questions that are already difficult to handle. Having a detailed estate plan can help the process go more smoothly.
What happens if you die without an estate plan in Washington?
If you die without a will in Washington, there are statutes that will guide your loved ones on who will get what assets.
Since there are a lot of potential combinations of people who may survive you, there are a lot of ways your assets could be divided. For example, if you leave a spouse and children, your spouse would inherit all of your community property and half of your separate property. That would leave the other half of your separate property for your children.
With so many potential outcomes, having an estate plan is important both for your peace of mind and for your loved ones.
What is probate? Does an estate always go through probate in Washington?
Probate is the legal process for passing assets to beneficiaries after someone dies. In Washington, a probate hearing can take place regardless of whether there is a valid will. There is no requirement for a probate hearing, but there are times when you may find one beneficial.
Times to consider going through the probate process include:
- When there is real property that is titled in the deceased’s name
- When there is personal property worth over $100,000 still in the deceased’s name
Planning For Peace Of Mind
Getting started on an estate plan can seem overwhelming. Whether you have a lot of assets or are just looking for peace of mind, the lawyers at Jeppesen Gray Sakai PS can help you create the right estate plan for you. To set up an appointment, call our Bellevue office at 425-454-2344 or contact us online.