Another year has gone by in Spokane, WA and you still haven’t drafted your will, trust, power of attorney or healthcare directive. Don’t let your family go unprotected again in 2014. Let an experienced estate planning attorney assist you in drafting all of the documents you need. It probably isn’t as expensive as you think, and the cost of not having it done is unthinkable.
The Green Law Office in Spokane assists clients in evaluating their specific estate planning and asset protection needs. Estate planning is often much more simple than people expect, but there are certain documents you need to have in place and those documents need to be drafted correctly. Most families can be protected against incapacity and the uncertainties of an intestate estate with these items:
- Last Will and Testament. Most people are familiar with this document. It disposes of your assets – personal property, real property, undesignated accounts, etc. You designate the person or persons you want to handle your estate through the probate process, and can issue specific instructions for that person to follow. You can be as specific or as general as you like. Sometimes people overlook necessary components of a will, though. If you have minor children, or grandchildren, you need to make provisions for a testamentary trust to comply with Washington law for transferring assets to minors. You may also need to consider naming a guardian for your children in the event something happens to you.
- Durable Power of Attorney. In the event you become incapacitated, or otherwise unable to handle your own affairs, it is crucial to have a document in place that gives someone you trust the ability to manage your affairs for you. Managing your business, bank accounts, investments, property and other assets can be accomplished smoothly and efficiently with a durable power of attorney. This document does not go into effect unless you are incapacitated, and it is revocable if you ever want to make a change. But without it, your loved ones may need to go through the expensive and lengthy process of petitioning the court for the necessary control over your affairs.
- Healthcare Power of Attorney. This document gives the person you designate the power to make medical and other healthcare decisions on your behalf if you are unable to make them yourself. You will also have a Heatlhcare Directive, which gives specific instructions regarding artificial nutrition and hydration; but the healthcare power of attorney covers all the bases when it comes to the power to make medical decisions when they are needed. You should have this document on file with your physicians, and bring a copy any time you go to the hospital or undergo a procedure.
The Green Law Office in downtown Spokane can assist you in protecting your family with the necessary estate planning precautions. Typically, we meet with clients initially to discuss all concerns and the details of their assets and family dynamics, then are able to draft documents and review drafts as often as is necessary to make sure everyone is comfortable with and understands everything. This can be accomplished in person, or through electronic or other transmission – whatever is most convenient for the client. Contact the Green Law Office today to schedule your consultation.