These clients were a married couple in their late sixties, with adult twins. They wanted to provide for their children, and they owned multiple pieces of real estate, but did not own assets valued over the Washington State estate tax exemption level. We prepared a will plan for these clients, which included a:
- Will;
- Financial Power of Attorney;
- Healthcare Power of Attorney; and
- Living Will.
The simple Will works for these clients because a probate can be opened and closed relatively easily with their smaller estate. Once the real estate is sold and any creditors paid, the reminder of the estate will be divided between the twins.
The Power of Attorney documents are to provide for the couple in the event that they are in a situation where they cannot make financial or medical decisions for themselves.
We prepared the Health Care Directive for end of life decisions, and to take the mystery out of what the couple would want to happen to them if they were in a permanent vegetative state.
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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):
https://cmslawfirm.com/foundation
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