These clients were a married couple with adult children and grandchildren. They had an existing estate plan, but wanted to update it to be in accordance with the current estate laws in Washington State, and to correctly reflect the nature of the gifts left to their children and grandchildren.
We created a Will Plan for each client, which included:
- Financial Powers of Attorney;
- Medical Powers of Attorney;
- Advance Health Care Directives;
- Disposition Instructions; and
- A Community Property Agreement.
The Wills enable the clients to accomplish their goals in providing for their children and grandchildren, and ensure the clients’ wills are updated with the current laws. They also name Personal Representatives to manage distribution of their assets.
The Financial Powers of Attorney provide designations for people to act for the clients to manage their assets if they are ever unable to do so.
The Medical Powers of Attorney name individuals to manage their healthcare if they are ever unable to do this themselves.
The Advance Health Care Directives include the clients’ healthcare preferences if they are ever permanently incapacitated.
The Disposition Instructions state what the clients would like to happen to their remains after they are gone.
The Community Property Agreement ensures the client’s joint property will go entirely to the other spouse if one predeceases the other, rather than the deceased spouse’s half of the property being distributed according to the Will when the other spouse is still living.
Need estate planning help but not sure where to start? Click the link to check out this free presentation I put together that will answer all your questions (it’s basically the talk I give at potential client strategy sessions):
And, if you know you just want to talk, click the link below to schedule a free strategy session with us: