THE BEST TIME TO DO YOUR ESTATE PLAN IS NOW (UNLESS YOU’RE A VAMPIRE – THEN YOU CAN WAIT)
Posted May 3rd, 2023 by Genissa Richardson
WHY I PRACTICE ESTATE PLANNING AND PROBATE
For many attorneys deciding what areas of law to practice is a difficult decision. I struggled with this question for some time. As a licensed legal intern I worked in family law, criminal defense, and landlord-tenant law. When I became an attorney, I wasn’t sure where to focus my energy. My first two years I practiced family law, criminal defense, and estate planning before realizing that family law and criminal defense were not good fits for me long-term. It was time to narrow my focus and get well versed in a narrower field of practice. So after much research and discussion with colleagues, I settled on estate planning and probate law.
I enjoy this practice immensely because it allows me to problem solve. Estate planning lets me guide clients through the process of deciding how to distribute their assets when they pass away. I consider it an honor to assist people with such important decisions. Complex estate planning is like a puzzle where in order to solve it, I must determine how best to get assets A, B, and C to heirs 1, 2, and 3, all without incurring more taxes than absolutely necessary. I think it’s fun!
And I equally enjoy probate because it’s rewarding to guide family members and friends through the process of settling the affairs of a loved one. Often, those left in charge of estate administration are still grieving the loss of their loved one, and I can ease their burden by taking on the legal aspects of the estate administration and guiding them through their roles.
In addition to basic wills and revocable living trusts, I draft documents such as deeds, community property agreements, prenuptial and postnuptial agreements, powers of attorney, and litigate TEDRA actions (Trust & Estate Dispute Resolution Act). Every day is different, and I get to work with a variety of clients on an array of legal issues.
If you have questions about estate planning or probate, you can book a free phone call or consultation here.
Posted April 26, 2023 by Genissa Richardson
DON’T LET THE STATE OF WASHINGTON WRITE YOUR WILL FOR YOU!
What happens if you die without a Will? If you are a resident of Washington State, we have laws regarding intestate succession. This means that you have no control over who gets your belongings. In most cases, it’s pretty straight-forward, e.g., your spouse gets the community property.
But things get pretty tricky pretty fast with situations involving blended families, for example, or when it’s not clear if property is categorized as separate or community property. And what if you get a divorce but forget to update the beneficiary designation on your life insurance policy? Well, your ex-spouse is almost certainly going to get a payout upon your death that you didn’t intend for!
Plan ahead – visit a local estate planning attorney and make sure the things you love go to the people you love.
Posted April 19, 2023 by Genissa Richardson
WHY YOU MUST AVOID PROBATE IN WASHINGTON STATE
The short answer is that you shouldn’t be concerned about avoiding probate in Washington State. And you thought I was going to tell you to avoid it at all costs, didn’t you?
The long answer is that there are many misconceptions about the probate process. In many states, probate is far lengthier and more expensive compared to Washington State. Here, there is less court oversight, attorneys are not permitted to charge fees based on a percentage of the estate’s value, and the overall the process is much simpler and less expensive.
In fact, if no one is contesting the decedent’s will or the executor’s proposed distribution of assets, then the probate process in Washington State usually doesn’t even require a court hearing. It can all be done behind the scenes by drafting and filing the correct paperwork. Some executors choose to do this themselves, however many opt to retain an experienced probate attorney.
If you have questions about the probate process, book a free 10-minute phone call here.
Posted April 14, 2023 by Genissa Richardson