Services Provided

We create the following documents to implement the estate plan you choose:
-  Wills
-  Revocable Living Trusts
-  Irrevocable Trusts, such as Special Needs Trusts
-  Durable Powers of Attorney for Health Care and Property/Financial Matters
-  Healthcare Advance Directives

When it comes to the protection and disposition of assets, the following estate planning strategies and documents can be utilized as needed in a customized estate plan.

ASSET PROTECTION 1

ELDER LAW PLANNING

Whether for yourself or your aging parents, it's important to make informed financial, medical, and legal decisions associated with growing older. We can assist in developing a comprehensive plan to ensure your wishes are honored in the future and to protect you and your assets should you become incapacitated and require assisted living or nursing home care.

 

There are various strategies for protecting your assets while maintaining eligibility for government benefits, such as long-term care insurance. Another strategy is a Medicaid or Veteran Asset Protection Trust, each of which has a look-back penalty period (5 years for Medicaid trusts and 3 years for Veterans Asset Protection Trusts).

PLANNING FOR FAMILIES WITH CHILDREN

We guide you to ensure your children and the money you leave for them are taken care of by the people you choose, in the way you wish, without court interference. This guidance also applies to blended families.

 

Minor children under the age of 18 cannot own property in their own names. They require trusts to manage their finances. Generally, the trustee(s) responsible for the trust can make discretionary distributions for support, maintenance, health, education, travel, home purchases, and business startups. The Trustee(s) are also required to make mandatory distributions. A common distribution plan is 1/3 at age 25, 1/2 at age 30, and the remainder at age 35.

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special needs

SPECIAL NEEDS PLANNING

Estate planning for a family with special needs children involves a complex set of financial, social, and medical issues that we can help you navigate. We are dedicated to ensuring that your child with special needs will be well taken care of when you are no longer able to serve as their caregiver.

 

Most children with special needs will be eligible for governmental benefits. You may wish to pass on a portion of your estate to your child with special needs without jeopardizing their governmental benefits.

 

Fortunately, the government allows assets to be held in a "special needs trust," providing
supplemental resources for a physically, mentally, or developmentally disabled child without affecting their eligibility for public healthcare and income assistance benefits. The rules for such trusts are quite complicated, and that is where we can help.

 

In Washington State, we have the ability to set up ABLE accounts. These are tax-advantaged savings accounts for individuals with disabilities whose age of onset occurred before they turned 26 years old. A "qualified disability expense" refers to any expense related to the disabled individual's living with disabilities. They may include education, food, housing, transportation, employment training and support, assistive technology, personal support services, healthcare expenses, financial management, administrative services, and other expenses that help improve health, independence, and/or quality of life. We can assist you in establishing such ABLE accounts.

ASSET PROTECTION PLANNING

We assist in safeguarding your assets from creditors and other threats, ensuring the security of your family's wealth now and for future generations.

 

WE CREATE THE FOLLOWING DOCUMENTS TO IMPLEMENT THE ESTATE PLAN
• Wills
• Revocable Living Trusts
• Irrevocable Trusts, such as Special Needs Trusts Probate
• Durable Powers of Attorney – Health Care and Property/ Financial Healthcare Advance Directives

ASSET PROTECTION 4

Avoid Potential Mistakes

We provide estate planning that works - through Life and Legacy Planning