People Of All Ages Stand To Benefit From Creating A Will
No matter your age or economic situation, the attorneys at Cogdill Nichols Rein Wartelle Andrews encourage everyone to consider the benefits of comprehensive estate planning. The cornerstone of every estate plan is the will. This document can express your wishes regarding the distribution of your assets. It can name a guardian for a minor child in the event of your death. A will can even be used to minimize the effects of taxation through the creation of a testamentary trust.
At Cogdill Nichols Rein Wartelle Andrews (CNRWA), our wills and trusts attorneys provide a full range of estate planning advice and services. For a reasonable fee, we can review your situation and explain how we can help you achieve your goals. If your financial or family situation has changed since the creation of your will, we can revise it to meet your needs.
Contact us to schedule a consultation with an estate planning lawyer.
Unique Aspects Of Wills In Washington State
Most people think of wills and trusts as two separate instruments. However, in Washington you can create a will that also contains a testamentary trust. The trust only comes into being upon your death. This can be a useful means of providing for the needs of family members and minimizing capital gains taxes. CNRWA has experience drafting wills for people from all walks of life.
When you meet with us to discuss your situation, your lawyer will listen closely as you describe your finances, your family and your goals. Based on your needs and desires, we will create the estate planning documents that can help you achieve your goals.
What Happens If You Do Not Have A Will?
Many individuals do not realize that if they pass away before they have taken the time to draft a will or trust, their estate will be in control of the state. Washington has created statutes that will be used to determine how your estate is divided and distributed. Unfortunately, this process can be rather lengthy and costly. You can avoid this process by working with an attorney at our office to develop detailed and comprehensive documents.
What If A Will Is Challenged Or Contested?
Even the most thoroughly drafted wills and other estate planning documents can be challenged during the estate administration process. This can arise from a number of situations, including questions of the testator’s mental capacity when signing a will, concerns about breach of fiduciary duty or fraud, factual inaccuracies or technical flaws in the will, outdated information in the will or will forgery.
In the event of a will contest, the estate administrator (also known as the personal representative or estate executor) must continue to act in the best interest of beneficiaries and of the estate. The claim brought against the estate to challenge the will can result in the will being upheld as valid, the will being made invalid, certain gifts/inheritance being named invalid or gifts/inheritance being altered.
Contact Us To Answer Your Questions About Wills And Estates
What happens to your retirement account? How will your medical bills be paid after you pass away? How can you provide for the needs of your disabled child after you are gone? At CNRWA, our Seattle will attorneys have answers to these and other questions.
To learn more about estate planning, wills and trusts, call us at 425-247-3984 to schedule your appointment with us.