A trust is a common document in an estate plan. You can use it to create a definitive plan for your assets and protect your wishes for your estate. It comes with many benefits, and many people use a trust as a means to bypass probate. However, there are many kinds...
Whoever you select to oversee your trust will owe a fiduciary duty to the beneficiaries of your trust. Hopefully, your trustee will not encounter any legal issues while administering your trust. Still, sometimes a trustee cannot avoid a date in court. Smart Asset...
If you have a friend who has a relative with a disability or other special needs, your friend may have asked you to be a trustee of a special needs trust. Before you agree to do so, though, you should know exactly what the role involves. A special needs trust is a...
About two-thirds of people who file for bankruptcy in America do so because of medical debts. Older Americans, who face high healthcare costs and often live on fixed incomes, are particularly vulnerable. A new law that expands Washington's charity care program may...
It is natural to expect you will be around to raise your children to adulthood, but you must prepare for the worst. If you and your spouse die while your children are still minors, you will need a conservator and guardian to take care of them. Whoever you choose to...
When you work on your Washington estate plan, you may cross a will off your to-do list first, and this is wise. A will is an important part of any estate plan and gives you a chance to say where you want your assets to go once you die. However, there are limits to...
Perhaps you have a disabled teenage son who was the victim of a serious car accident. You are considering setting up a trust to hold the financial compensation he is due to receive. According to federal and state law, those who qualify for SSI and some Medicaid...
There are many things you can include in your estate plan. It all depends on the size and complexity of your estate. However, The New York Times explains there are four documents every estate plan should include at a minimum. So, if you are just beginning to think...
It feels like an honor when asked to be the executor of a will, but it also comes with a lot of responsibility. If you are not ready for the responsibility to handle your loved one's estate, it can become more daunting than necessary. According to AARP, preparing to...
If you have just named someone as a financial power of attorney for your estate, or if you have just taken on the role for a loved one, you should understand the scope of this important designation. Not all POAs include the same tasks or responsibilities, but most...
