Last Will and Testament in Vancouver, WA
Protect yourself and your family with a legally binding will.
What is a Will?
A Last Will and Testament is perhaps the most important legal document the average person will ever sign. A Will is an instrument that, upon your death, controls who gets your property, who will be the guardian of your children, and who will manage your estate. A Will is limited to your probate assets and has no control over jointly held assets or with a beneficiary designation, such as IRA or retirement accounts. The people or entities who receive your assets are known as Heirs or Beneficiaries.
A Will’s primary objective is to dictate where your probate assets pass at your death. A Will is about property ownership, but it should also be about Asset Protection. A Will can also nominate a Guardian for your minor children, if needed.
Due to the complexity of this process, it’s crucial to have an experienced last will and testament lawyer in Vancouver, WA, to handle everything for you.
“After researching attorneys for wills and trusts, I decided to call Nick, which turned out to be a very good decision. My overall experience surpassed my expectations! Nick was easy to talk to, he answered all of my questions, was conscientious, thorough, and took the time to explain things. The finished products were well organized and put together. I’d give him an extra star if I could, and without hesitation would recommend his services.”
— Arthur Schwartz
What is the purpose of a Will?
Without a Will, Washington’s Intestacy Rules decide where your assets pass and your wishes are ignored. Your Will allows you to select who receives your things at death rather than the State. Though it is possible to leave some assets through Beneficiary Designations or Joint Ownership, a Will gives you much more flexibility. A Complex Will allows you to leave assets in Irrevocable Trusts – called a Testamentary Trust, sheltering the inheritance from the Beneficiary’s possible divorce or creditors. The Will is also an excellent tool to create trusts to help keep assets within the family and away from sons-in-law and daughters-in-law.
The Requirements for a Last Will and Testament in Vancouver, WA
States rules covering Will execution vary, but there are a few universal rules:
Eighteen Years of Age and Sound Mind: The person signing the Will cannot be mentally ill or disabled and must be acting of his or her free will, without undue influence.
Witnesses: Washington requires two witnesses to watch the signing where the person declares the document to be his Will, and then sign as witnesses. The rules about who may or may not serve as witnesses vary.
In most states, you will want your Will to include a Self-Proving page. This page is notarized and then allows the executor to file the Will without the witnesses being present.
Contact us today to set up a consultation and learn more about our last will and testament services in Vancouver, WA.
Take control of who inherits your assets
If you die without a Will then your estate is considered “Intestate.” Being Intestate means that the State, not you, decides how to distribute your property.
Don’t leave your estate planning up to the Washington courts. Take control of your legacy with Vancouver Estate Planning today!
Types of Wills
Simple Will
A Simple Will is not necessarily “simple.” A “Simple Will” only means that all assets pour outright to beneficiaries without a protective trust. So a Will that includes a Testamentary Trust providing protection from divorce, creditors, or doing tax planning is not a Simple Will. These Wills are called Complex Wills.
A Simple Will may be a good fit for you if…
You have no minor children
You have no need for a Guardian
You have no need for an Irrevocable Trust to shelter a child’s assets
You have no adult children for whom divorce or creditors is a concern.
Your estate is tiny
You have no Estate Planning for a Second Marriage
You have no Estate Planning for a Blended Family
You have no concerns about a Will Challenge
You have no need to avoid probate using a Revocable Trust
Your health is good, and does not require Alzheimer’s or Dementia Planning
You have no necessary Special Needs Children planning
Complex Will
A Complex Will is not necessarily “complex”, it only means that is not a Simple Will. A Simple Will gives all assets outright, a Complex Will does not.
A Complex Will may be a good fit for you if…
You have a minor child. A Complex Will creates a protective Irrevocable Trust for your child. A Complex Will can name a Guardian of the Person for your child.
You have a business that will not end at your death. A Complex Will can perform Business Succession Planning.
You jave a Special Needs Beneficiary. A Complex Will sets up a Special Needs Trust.
You wish to keep assets in the family. A Complex Will can set up a Dynasty Trust.
You wish to shelter assets for your spouse. A Complex Will can set up a Disclaimer Trust or an AB Trust.
You wish to have assets accumulate. A Complex Will can set up an Education Trust.
You have a Large Estate. A Complex Will can perform tax planning, such as creating a Credit Shelter Trust.
You need to address issues raised by a Second Marriage or a Blended Family.
