Estate planning is multifaceted, encompassing property, business, contracts, tax, and many other areas of the law.

Estate planning is multifaceted, encompassing property, business, contracts, tax, and many other areas of the law. It also serves a number of important purposes – it can help you avoid probate, minimize or eliminate estate taxes, and provide instructions on how to manage your affairs during your incapacity and settle matters and control your estate, even after your death. We can help you develop a new estate plan or work with you on modifications to an estate plan that is already in place.

BASIC ESTATE PLANNING. Basic estate planning documents include either a simple will or a "Pourover" Will with a Revocable Living Trust, Durable Power of Attorney for asset management, Directive to Physicians ("Living Will"), and a Health Care Power of Attorney for health care decision making in the event of your incapacity, to make sure that your wishes are respected.

There are additional estate planning considerations for non-U.S. citizens and their spouses, including the use of a Qualified Domestic Trust (QDOT) to defer the harsh tax treatment often given to non-U.S. citizens.

If you have children, you should also consider the benefits of a Trust or Special Needs Trust, to ensure that your children’s inheritance is properly managed and their assets protected.

ADVANCED ESTATE PLANNING. If the total value of your assets is over the estate tax exemption amount, which varies by year, you should explore the tax-saving benefits of a Marital Trust and Credit Shelter Trust, IRA Distribution Planning, as well as the possibility of incorporating an Irrevocable Life Insurance Trust, Charitable Trust, Family Limited Partnership and/or Family LLC into your estate plan.

Individuals with extensive property and/or business interests can benefit from Conservation Easements, Family Business Continuation Plans, “estate freezing” techniques, and wealth management services. An individual with business interests may also protect their assets from future creditors by establishing a Foreign Trust.

ESTATE ADMINISTRATION. We work closely with Personal Representatives, Guardians, and Trustees, helping them carry out their responsibilities in accordance with the law and the testator’s wishes. We advise clients on how to properly distribute estate assets through probate proceedings or Trust administration and ensure the most tax-efficient accounting and valuation of estate assets for purposes of the final income tax return and estate tax return preparation.

We can help save your loved ones considerable sums in probate fees and estate taxes, as well as a great deal of aggravation. Contact our office today at 253.858.5434 for a consultation. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.