Once the initial legal and financial matters have settled following the death of your spouse, it is important to review and update your estate planning documents to reflect your new circumstances.

The death of a spouse is an incredibly difficult time, and reviewing your estate plan may understandably not be at the top of your immediate to-do list. However, once the initial legal and financial matters have settled, it is important to review and update your estate planning documents to reflect your new circumstances. Your spouse may have been named as your Personal Representative, Trustee, agent under a Durable Power of Attorney, or health care agent, and beneficiary designations on retirement accounts, life insurance policies, and other assets may also need to be updated. The death of a spouse can also significantly change your financial picture and may affect estate tax planning, particularly in Washington, where state estate tax considerations can differ from federal law. Reviewing your Will, Revocable Living Trust, Powers of Attorney, beneficiary designations, and related documents with your estate planning attorney can help ensure that your plan continues to reflect your wishes, protects your family, and addresses the legal and tax issues that may arise following your spouse’s death.

If you have questions about updating your estate plan, give us a call at 253.858.5434 to set up an appointment today.