Do You Need an Estate Plan?
Are estate plans only for the rich? Not at all. Most people can benefit from an estate plan without even factoring in their finances and assets. If you have children, a home, a retirement plan or pension, or a small business, then you can benefit from an estate plan. The same is true if you have specific medical needs or are reaching an older age where medical conditions might become a more common concern. When all these factors are considered, it is simple to see that most anyone should have an estate plan made by a professional estate planning attorney.
Consult Our Pacific Northwest Estate Planning Lawyers
The sooner that you start thinking about making an estate plan, the easier it will be to use the right tools for your unique situation. Call (888) 981-9511 now to connect with Pacific Cascade Legal. We are here to make sure your estate plans are created to your expectations, so you and your family feel more comfortable with whatever the future might bring.
Make an estate plan that hits all the right notes. Call (888) 981-9511 to find out how.
Estate Planning FAQ
When a trust is made, are its terms permanent?
Some trusts can be edited once they are created, which are called revocable living trusts. If a trust is irrevocable, though, it cannot be changed. You should not finalize and sign a trust without first reviewing it with an estate planning lawyer.
What are estate taxes?
Each state will claim a certain portion of an estate’s value when the owner passes away through estate taxes. Estates under a certain value can avoid most or all estate taxes, though. We can help minimize the tax impacts on your estate, so the largest amount of your property goes to your family, not to the state.
What does it mean if you pass away intestate?
If you pass away without creating a will, it is called “passing away intestate.” Without a will, probate is essentially unavoidable because the court will need to get involved and determine the right way to distribute your assets to beneficiaries.
Can probate be avoided?
Probate is usually not entirely unavoidable. The court will want to look at a will at least once. With careful estate planning, though, you can minimize the risk of getting caught in a lengthy probate process, which your loved ones will appreciate.
What is a power of attorney?
A power of attorney gives someone authority over certain decisions that you would normally make but cannot due to incapacitation. Powers of attorney can take various forms based on what you want that person to do for you. For example, a medical power of attorney will let them make your decisions regarding your final medical care.