Tri-Cities Will Attorney
Estate planning is an important step you can take today to protect your estate and everything you worked so hard to achieve. If you think you’re too young to sit down with a Tri-Cities Will attorney, you’re not.
Your estate plan, whether you have one already and need to update it or are creating a new one, will allow you to:
- Distribute your assets to the beneficiaries you wish
- Name a guardian for a minor child
- Create a Trust
- So much more
Sadly, reports found that the number of people with a Will is down 6% to just 32% of Americans.
Our Will services in the Tri-Cities can help set a foundation for your estate plan, whether you’re:
- Married, or plan to be married in the near future
- Single and young, or older
- In great health, or have a terminal illness
A Will protects your estate and beneficiaries, and it is a legal tool that you can use whether you are ultra-wealthy or just starting your first job. If you don’t have a Will, your estate will follow Washington’s intestacy laws, which will dictate how your estate is distributed.
It’s possible that you’re married or have accounts that are jointly owned, but a Will ensures all of your final wishes are carried out exactly as you express them in your Will.
If you’re just learning about estate planning or already have an estate plan and want to add or update a Will, we can help.
ELG Estate Planning has nearly two decades of helping people just like you navigate the estate planning process.
CAN YOU CREATE A WILL WITHOUT AN ATTORNEY?
A Will is a legal document that you can create on your own, but there’s a reason to work with a Tri-Cities will attorney. You cannot go back in time and fix an improperly drafted Will when you die.
Our Will services in the Tri-Cities offer you the peace of mind that your Will is:
- Extensive and outlines your exact wishes
- Enforceable
- Includes protections for assets and your beneficiaries
- Gives clear direction and is easy to follow
Your Will must be created when you’re of sound mind. If you create a Will a few days before your passing, the Will may end up being contested. An attorney can verify that you were of sound mind at the time of signing so that there’s no room for someone to contest the Will in the future.
Aside from forming the Will properly, other mistakes that can happen with a DIY Will, include:
- Failing to update it in the future if you are divorced, move to a new state, have a child or grandchild, buy a home or get married.
- Not adding a guardian for a minor child in the Will. If you have a child after the Will is created, you should add them to the Will.
- Not knowing that your Will can create a trust, which is another powerful estate planning tool.
- Failing to direct all of your assets through your Will that are considered probate assets. Note that your Will is not the proper place to state specifics for your burial, cremation, or other final wishes. A separate statement of wishes and documentation are better for this purpose.
Many non-probate assets, such as your retirement accounts, have beneficiary designations that allow you to pass the account to someone upon your death. Your estate plan should coordinate your non-probate assets with your Will.
If you create a Will on your own, it puts your estate at risk because a simple error or oversight can impact your last wishes.
Wills are one of the main legal tools of an estate plan, and you shouldn’t DIY them because you assume that costs are too high. A simple Will is often very affordable and will provide your estate with exceptional protections.
HOW MUCH COULD THE CREATION OF A WILL COST?
A Will is a fundamental estate planning document that outlines your wishes for asset distribution after you pass away.
Although the value of a Will is priceless, it’s natural to be concerned about costs.
The cost of creating a Will depends on a variety of factors. Every individual’s situation is unique.
To get a more accurate picture of how much your estate plan, including your Will may cost, contact a Tri-Cities will attorney for guidance.
Contact ELG Estate Planning to schedule a consultation and discuss your will creation needs.
WHEN SHOULD YOU UPDATE YOUR WILL?
If there’s one guarantee in life, it’s that things will change. As your life changes, your Will should change along with it.
A Tri-Cities Will attorney can help you update your Will whenever you experience major life changes, such as:
- The birth of a child. Updating your will allows you to name a guardian for your child. You may also want to revise your Will after the birth of subsequent children if you wish to change or name more guardians.
- Marriage. Whether it’s your first or subsequent marriage, it’s important to update your Will to ensure your assets are left to the persons of your choosing. If you are marrying a partner with children from previous marriages, you may wish to ensure your wishes are clear about who will inherit what.
- Divorce. Updating your Will after a divorce ensures that your new beneficiaries are clearly identified, and your wishes will be carried out.
- Named executors or beneficiaries pass away. Your current estate plan may have contingency plans in place, but you may want to re-evaluate these decisions.
- You come into a windfall of money. In this scenario, updating your Will can help ensure proper tax planning. You may also want to update your wishes for how much money you will leave to certain heirs or charities.
- You purchase property in another country. Although many countries have agreements with the U.S. to allow reciprocity of Wills, the transference of property can be delayed if the Will must first be probated in another country. Updating your Will after the purchase or creating a different Will for each country you own property in can help prevent delays and complications.
These are just a few of the scenarios in which you may want to update your Will. Revisiting and updating your Will regularly will give you peace of mind that your current wishes will be carried out if the worst should happen.
HIRING TRI-CITIES WILL ATTORNEY NEAR YOU
A Will ensures that your last wishes are carried out and your voice is heard after you’re gone. While the Will creation process appears to be simple and straightforward, it’s often more complex and involved than you may have imagined.
The more assets you have and the more complex your estate, the more overwhelming the process can become.
An experienced Tri-Cities Will attorney from ELG Estate Planning can help ensure your Will is clear, legally valid and reflects your wishes.
We can also assist with other estate planning needs, including Trust formation, long-term care planning and more.
Contact us today to schedule a consultation and learn more about our Will services in Tri-Cities: Kennewick, Pasco, Richland, and West Richland.