Estate Planning and Probate in Vancouver WA
Estate Planning is about peace of mind and control. It is a process that is personal to each individual and allows you to determine who will receive your assets, how and when they will receive your assets, who will be in charge of that process as well as providing protections in the event that you are incapacitated.
Available Estate Planning Tools in Vancouver
In creating an estate plan to meet your specific needs and goals there are many tools available, including, but not limited to:
- Simple Wills
- Marital Wills with Tax Planning
- Second Marriage Estate Planning
- Trusts (Living, Testamentary and Special Needs)
- Financial Powers of Attorney
- Health Care Powers of Attorney
- “Living Wills” or Advance Directives
- Property Settlement Agreements
- Community Property
- Other Property Status Agreements
Vancouver Probate, Estate and Trust Administration
A properly drafted estate plan can significantly reduce the cost of probating an estate as well as reduce the burden placed on your loved ones who are left behind. Call us at 360-695-8886 to schedule a consultation.
Probate and Estate & Trust Administration
Probate is the legal process used to transfer title to property left by a decedent. When someone dies leaving property titled in their name, the court must appoint a Personal Representative who will have the legal authority to transfer the decedent’s property. The Personal Representative is a fiduciary and must act in the best interests of the beneficiaries. She has the important duties of marshaling and protecting the assets of the decedent’s estate, paying debts of the estate and then distributing the assets to the beneficiaries. A specific time frame for probating an estate does not exist, but an average non contested probate should generally last about nine months to a year.
Estate Administration. In certain circumstances, a full probate may not be necessary or required. When a decedent’s estate is valued under $100,000.00 and includes no real property, Washington allows the use of Small Estate Affidavits to transfer the property. Additionally, when an estate is comprised of only real property, Washington allows that property to be transferred with a Lack of Probate Affidavit.
Trust Administration is the process of distributing a decedent’s estate when the assets of the estate have been placed in a Trust. It is akin to a probate in that debts must be paid and all the assets must be marshaled and then distributed according to the Trust documents. However, there is no court process to adhere to and it is the Trustee, or Successor Trustee, that fulfills these duties rather than a Personal Representative. Whatever your situation may be, remember, our estate planning lawyer is there for you.