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Cryptocurrency 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…
Read MoreNever Too Young
Guest Author: Michele C. Petite-Shelhorse The fact is, life is never predictable. You are never too young to protect your loved ones and delegate your life’s legacy. Below are ten reasons why young people should consider making their estate plan now. How do you want to be remembered? Celebration of Life planning is wise. A…
Read MoreHealth Care Advance Directives and How to Choose your Attorney in Fact
Advance directives are composed of two legal documents: A Durable Power of Attorney for Health Care and a Health Care Directive. A Durable Power of Attorney for Health Care is a legal document appointing someone of your choice to make healthcare decisions for you if you become unable to do so because of injury, illness,…
Read MoreFive Important Responsibilities for the Trustee of a Special Needs Trust
If you are thinking about serving as the trustee of a special needs trust, you will probably have questions about the trustee’s role and responsibilities. Trustees of special needs trusts have many important responsibilities, but the following five appear at the top of any trustee’s list. 1. Communication An ability to communicate with the trust beneficiary,…
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