Blog
Creating a Children’s Trust in your Estate Plan
A children’s subtrust is a type of trust that is specifically designed to hold assets and manage them for the benefit of minor children. It is commonly used as part of a larger estate plan to ensure that assets are protected and properly managed until the children reach a certain age or milestone. Here are…
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Understanding Personal Property in Estate Planning: A Comprehensive Guide
July 6, 2023Written by guest author; Shaheer Hashmi Understanding Personal Property Many people primarily focus on real estate and financial assets when making their estate plans. However, paying attention to the significance of personal property in your estate planning is essential. Personal property holds both sentimental and monetary value, and proper consideration and planning can…
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Avoiding Probate in Washington State
Written by guest writer: Shaheer Hashmi Probate is a legal process that validates a will, settles debts, and distributes assets to beneficiaries after an individual’s passing. Effective estate planning strategies are available to help individuals avoid the court probate process and ensure a smooth transfer of assets to their loved ones. This article will explore…
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Understanding Elder Law: A Comprehensive Guide for Washington State Residents
Written by Guest Author; Shaheer Hashmi June 21, 2023 As our loved ones age, ensuring their well-being, protecting their assets, and providing for their future becomes increasingly important. Elder law is a specialized legal practice that focuses on the unique needs of older individuals, addressing a wide range of issues that arise during aging. In…
Read MoreCryptocurrency and Trusts
By: Guest Author Shaheer Hashmi Over the last several years, the use, maintenance, and prestige of cryptocurrencies such as Bitcoin has continued to grow rapidly, with no signs of slowing. Due to the novelty of using cryptocurrency, some people have not yet considered how to incorporate these unconventional assets into their estates, so that upon…
Read MoreElectronic Wills in Washington: What You Need to Know
Written By Shaheer Hashmi Law is an ever-evolving field in how it is practiced and what it covers, and the time-tested process for estate planning is no different. Recently, Washington State announced that starting January 1st, 2022, wills may begin to be executed electronically through the upcoming Electronic Wills Act (EWA). What does that mean…
Read MoreWhat is the Difference Between an Attorney-in-Fact, Executor and Trustee?
The “Who’s Who” of Your Estate Planning A common question I get is, what is the difference Between an Attorney-in-Fact, Executor and Trustee with respect to decision-making authority? An important piece of the estate planning process is choosing who will make financial and health care decisions on your behalf during your lifetime, as well as…
Read MoreSix Expenses You Probably Aren’t Planning For
Don’t get taken by surprise when these expenses sneak up on you! Sometimes, it is hard enough to find the money to cover your daily living expenses, so the idea that you should put away “extra” money for a rainy day seems outlandish. But this planning necessary, and it is simpler than you might think.…
Read MoreProbate in Washington: An Overview
Probate is the legal process by which property and other assets pass from the decedent (the person who has died) to his or her heirs and beneficiaries after death. In Washington, probate is not always a required procedure, even if the person dies without a will. It is typically a discretionary procedure but is required…
Read MoreEstate Planning and Tax Reform
In 2019, the significant increase in the federal estate tax exclusion to $11.4 million left some people thinking estate and tax planning was not so important anymore. However, the higher exclusion is slated to return to only $5 million (inflation indexed) at the end of 2025. Also, for Washington residents, the state estate tax exclusion…
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