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April 2014 Archives

Estate plans can come in as many varieties as Washingtonians do

A common reason cited for crafting an estate plan is to provide a financial legacy for one's children. However, many Washington residents feel that this advice does not apply to them. For instance, some do not have children, and some feel that they don't have enough money to make the effort worthwhile, and so they decide to do nothing. That decision is misguided.

Singer's estate reaches settlement over unpaid royalties

When Washington residents execute their wills, they appoint an executor to wrap up their affairs. The executor pays off debts and taxes and pays out the inheritance to the heirs according to the will. After a few months, the executor's work is typically done and the estate is settled. However, there are types of estate plans that call for much longer term estate administration.

Trusts can manage an inheritance when the heir isn't ready yet

Many Washington residents want to leave an inheritance for their children, but fear that their children aren't capable of handling an inheritance responsibly. In some cases, the child may be still a minor, in other cases the child may have a developmental disability and in still others an adult child may have a gambling problem - there are many circumstances that could justify such fears. In these cases, a will that simply provides a lump sum to an heir could create as many problems as it solves.

Actor's death raises legal guardianship issues

Many Washington residents don't think about estate planning until they become parents. This is partly due to the fact that beginning a new generation makes one think about leaving a legacy behind, but it is largely due to a very practical concern: Parents must decide who will become legal guardians of their children if they should unexpectedly die while their children are still minors.

Make Your Consultation Appointment

To speak with an attorney at Gellner Law Group about estate planning, probate, trusts, wills or tax controversy, contact our law office in Kent, Washington, today. You can call 425-336-2908 or send us an email. We provide representation across the entire Seattle-Tacoma metropolitan area.

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