Planning for the distribution of your estate in Washington State requires a thorough understanding of nonprobate assets, community property laws, and effective estate planning strategies.
Debunking Common Myths About Probate in Washington State
Probate is often a misunderstood and daunting process that many individuals find themselves facing during challenging times. In Washington State, probate involves the legal distribution of a deceased person's assets and settling of their estate. Unfortunately, several myths surround probate, causing confusion and unnecessary stress for those involved. In this blog post, we aim to debunk some common myths about probate in Washington State, providing clarity for individuals navigating this complex legal terrain.
Probate in Washington State
Probate is a legal process that takes place after someone passes away, involving the distribution of their assets and settling their debts. In Washington State, the probate process follows specific rules and regulations. This blog post aims to provide a guide to understanding probate in Washington, including key steps, general timelines, and important considerations.
Four Times When You Do NOT Need Probate
How does probate work in Washington?
How to Make Your Inheritance Last
A 2012 study by Ohio State researcher Jay Zagorsky found that about one-third of Americans who receive an inheritance have negative savings within two years of getting their money, and of those who receive $100,000 or more, nearly one in five spend, donate or simply lose it all. If you are about to receive an inheritance, there are several steps you can take to insure your funds will last longer than a few years.
Ancillary Probate: When Is It Used, Where It Occurs, and How to Avoid It
Many people own property in more than one state—perhaps a vacation home in Oregon, a rental property in a former home state, or even a car titled in another state. It is important to think about how that property will be handled as you create an estate plan. It may be necessary for there to be an additional probate proceeding called ancillary probate. Through proper estate planning, however, this result can be made less burdensome or even avoided.
What to do when someone dies
While this isn’t a cheerful topic, it is a necessary one. Sooner or later, someone you know will pass on. The purpose of this blog post is to give you a checklist for what to do in the minutes, days, and weeks following death. In Washington State, it usually takes about a year to “wind down” someone’s life — but you should have assistance of a probate attorney after the first week or two. If death is anticipated, it is helpful to think about these steps before someone passes, so that you can be ready.