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August 2014 Archives

What is the difference between revocable and irrevocable trusts?


Washington estate planning tools often focus on trusts as part of the plan. A trust is a way for an individual to distribute property by transferring its benefits and obligations to different people. When a trust is created, the owner or "trustor" or "grantor" transfers the legal ownership to a person, a "trustee," to manage for the benefit of another person, the "beneficiary." The trustee is responsible for acting in the best interest of the beneficiary.

An overview of guardianships


There may come a time when a person in Washington will find themselves being appointed as a guardian. This role carries with it a lot of responsibilities. Guardianships are established for children or adults who are unable to make decisions for themselves. Children or adults who are mentally or physically incapacitated need to have a parent or guardian to act on their behalf.

Different trust options exist to aid with estate planning


Estate planning can be unique to each individual and there are many estate planning tools available to meet different circumstances and needs. There are different types of trusts that may be set up for different purposes. According to one expert, trusts may provide greater asset protection and control over the distribution of assets, even including following death. Another benefit may be that, in general, living trusts are not subject to probate. A revocable trust may spare the family the publicity of a will and allow privacy to be maintained.

Looking at Kasem's probate to avoid estate planning issues


Preparing for the future it common for Washington State residents and those across the nation. Whether it is for the short-term or the long-term, taking steps to protect the future and finances of an individual and their family is important. When a will is constructed during a person's lifetime, the details of the document could unexpectedly created issues during the estate administration. The probate process could be complicated if estate planning is not done properly, so it is crucial an individual carefully and adequately drafts the document.

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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