WHO WE SERVE
Home »
You may be married, divorced, re-married, single, have children or not, have a biological, adoptive, or blended family, have a life partner, or an LGBTQIA+ family. Regardless, you truly and deeply care about the people in your life and want to make things as easy as possible for them if something happens to you.
The protection of Life and Legacy Planning® is for all individuals and families
who have anyone and anything (charities) they care about.
YOUNG ADULTS
You are launching into adulthood and focused on what direction you want your life to take. You may be working and perhaps in a relationship. But unexpected things can happen, such as a car accident.
You may end up incapacitated. Who should make decisions regarding your financial/property and healthcare matters? We use Durable Powers of Attorney to describe the Agents who can act on your behalf and their authority. Do you want artificial life-sustaining treatment withheld if you are in a terminal condition or permanent vegetative condition? Do you want to be an organ donor?
If you pass, who gets your personal property? What about your bank account(s)? Do you own real estate or investment (retirement and non-retirement) assets? Who should receive those assets? Who takes care of your pets and how much money do you want to leave that person? You need a Will to leave tangible property by Gift List, to set up a Pet Trust, and distribute any property you may own.
MARRIEDCOUPLES
Amid love and fun, it’s important to make intentional decisions about the ownership of property. Property brought into the marriage or inherited after marriage is considered separate property of the owner and can be distributed to whomever the owner wants. Property acquired during the marriage is considered community property, with each spouse owning an undivided one-half interest.
It is advisable to enter a Property Status Agreement if there is any separate property. If the estate is small and distribution is straightforward, a married couple may want to use a Community Property Agreement, which goes into effect upon the death of the first to die and is recorded. Even with such an agreement, there should be a Will describing the distribution of property. The couple also needs Durable Powers of Attorney for financial/property and healthcare decision-making in the event of incapacity. In addition, each of them will probably want a Health Care Directive (Living Will) specifying that all artificial life-sustaining treatment be withheld if they are in a terminal condition or a permanent unconscious one.
LIFE PARTNERS
Estate planning is particularly crucial for those in an unmarried relationship with a life partner or companion, especially if one partner owns a house. It's common for the homeowner to give their partner a life estate, allowing them to live in the home for their lifetime, and then provide for distribution to the homeowner's children if they have them.
Washington has a law regarding committed intimate relationships that governs relationships and ownership or property. In such relationships, there should be a Property Status Agreement specifying the ownership of property.
PARENTS / CAREGIVERSWITH CHILDREN
Many people start their estate planning when they have children. The naming of a Guardian and Successor to raise minor children is of critical importance. (It is one of the most difficult decisions they will have to make). It is equally important to name a Trustee and Successor Trustee to manage the finances of minor children. It doesn't have to be the same person(s), but it can be.
Children’s Trusts usually provide that mandatory distributions should be made as follows: 1/3 at age 25, ½ at age 30, and the rest at age 35. In the meantime, discretionary distributions can be made for health, education, maintenance, and support.
We offer a Kids Protection Plan® which provides short-term guardians so that your children won’t be put into government care if something happens to you while they are with a childcare provider.
BLENDED FAMILIES
No matter how close or friendly your current spouse and children from a prior marriage may seem, conflicts can arise when navigating the complexities of blending families with different expectations unless you have planned carefully. A common plan has the jointly-owned property go to the children of the marriage and separately-owned property go to the children of the prior marriage. Life insurance is also commonly used to create an additional asset that is distributed to the children of the prior marriage/partnership.
LGBTQIA+ FAMILIES
In December 2022, President Biden signed the Respect for Marriage Act that legally protects same-sex and interracial marriages from being banned by state laws. But, LGBTQIA+ families can face risks, such as child guardianship disputes. For LGBTQIA+ parents, especially those who are not biologically related to their children, a clear guardianship plan is essential. Without a plan, there’s a risk of extended family interference, conflict, and confusion. Children could be placed in the custody of individuals who are not aligned with your values or who may be estranged or judgmental.
Without a legal estate plan, assets may not be distributed according to your wishes. This could result in unintended beneficiaries, such as estranged family members seeking to receive your assets instead of your partner or chosen heirs.
SINGLE PARENTS
Once you are gone, the surviving parent will be entitled to custody of your children unless their parental rights have been terminated or there is no other parent involved. In the latter case, you will want to name a guardian. You can name someone other than the surviving parent to handle your children's financial affairs regarding the property you leave them.
MIDDLE ADULTHOOD
By this time, you may own a primary residence and possibly a vacation home. You may be accumulating investment (retirement and non-retirement) assets. This is a good time to make sure you have sufficient life and long-term care insurance while you are still eligible to obtain coverage. It is also common to use a Revocable Living Trust in your estate plan at this time.
SENIORS
Seniors should plan for the possibility of incapacity by using Durable Powers of Attorney to name trusted people to make decisions regarding property, financial matters, and healthcare. Additionally, a Health Care Directive is necessary for those who do not wish to be kept alive artificially. Where do you want your property to go when you are gone? Who do you want to put in charge of distributing your property? Do you want to include grandchildren as well as your adult children? Charitable giving may also be an important part of one's legacy.
If you don't want to be kept alive through artificial means if you are in a terminal condition or a permanent unconscious condition, you need a Health Care Directive, also known as a Living Will. It is helpful for your family if you make the necessary arrangements prior to your death. In addition to burial or cremation, there is now the opportunity to have one’s remains composted.
What is a Mental Health Advance Directive?
A mental health advance directive is a legal written document that describes what you want to happen if your mental health problems become so severe that you need help from others. It will inform others about what treatment you want or don’t want, and can identify a person to whom you have given the authority to make decisions on your behalf.