Estate Planning : People often avoid Estate Planning because they do not want to think about their mortality. However, having an estate plan of your own, which typically includes a will, living will, powers of attorney for health and finances, and possibly a trust, is crucial for the following reasons:
- Making sure your minor children are cared for in the manner you desire, should the unthinkable happen.
- Allowing you to choose where and to whom your property goes after your death. This is particularly important if you own a home or other forms a valuable property.
- Allowing you to choose someone you trust to make decisions, according to your wishes, concerning your health and finances in the event that you are no longer able to do so.
- Providing medical professionals with your personal directive in the event you become incapacitated.
In creating your Estate Plan, the Law Offices of Heather T. Kolbly, P.C. considers your interests during your lifetime and afterward in a comprehensive and caring manner. Tools used in your Estate Plan may include drafting Wills, Trusts, Powers of Attorney for health and financial affairs, Living Wills, Special Needs Trusts, and Estate Administration.
Wills : A will is a document by which a person directs his or her property to be distributed upon death. To be legally valid in Washington State, a will must be created following certain specific formalities. The Law Offices of Heather T. Kolbly. P.C. will draft your will carefully and thoroughly to ensure the proper disposition of your property.
Trusts: A simple trust involves placing a designated property interest under the control of a trustee for the benefit of a third party (the beneficiary). There are many types of trusts. The most typical type of trust in estate planning involves "pouring over" property designated in one's will into a trust upon that person's death. The benefits of having such a trust include certain tax savings and avoidance of probate. For more information on tax benefits, please consult a Certified Public Accountant. The Law Offices of Heather T. Kolbly. P.C. will draft a trust specially tailored to your needs and desires concerning your property.
Powers of Attorney for health and financial affairs : A power-of-attorney document, as used in estate planning, grants someone else the authority to act as your agent (or attorney-in-fact) and make decisions for you concerning your health and financial affairs. The power of attorney may take effect when you choose, either immediately or upon some event happening in the future (such as becoming unable to make your own decisions due to an accident or illness). The Law Offices of Heather T. Kolbly. P.C. will make sure all the proper steps are taken to convey your wishes to your designated agent(s) so that they have the necessary information to make decisions for you.
Living Will : Also referred to as an "advance directive," a living will states your intention to refuse medical treatment and release healthcare providers from liability if you become terminally ill and unable to communicate such refusal. To be valid, all of the same formalities used for creating a will must be followed. The Law Offices of Heather T. Kolbly. P.C. will make sure all the proper steps are taken to convey your wishes to medical personnel in this type of document.
Special Needs Trust : A special needs trust is a trust created for the benefit of someone with disabilities that qualify that person for government assistance. Utilizing this type of trust allows disabled persons to have the benefit of government assistance, and still have additional funds available for other necessaries of life, particularly after the death of their parents or guardians. The Law Offices of Heather T. Kolbly. P.C. can help ensure that your special needs child is taken care of in the manner you desire after your death.
Estate Administration : Navigating the rules and procedures of the probate process can sometimes be confusing and overwhelming for the Personal Representative named in a will. The Law Offices of Heather T. Kolbly. P.C. can help Personal Representatives through this process.
Prenuptial and Postnuptial Agreements : Prenuptial agreements are agreements made in writing by two people contemplating marriage to each other. In these agreements, the couple typically agrees that, should they get divorced in the future, certain properties will go to one or the other. Postnuptial agreements are similar, but these are created after the date of marriage. Prenuptial and postnuptial agreements must be drafted specifically and following proper guidelines in order to be effective. The Law Offices of Heather T. Kolbly, P.C. will thoroughly and properly draft these types of documents according to your wishes.
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