Estate planning is often associated with married couples or wealthy individuals. However, it's equally, if not more useful, for unmarried individuals. Without a proper estate plan, state laws may dictate how your assets are distributed. This may not align with what you have in mind for your perso...
How Do You Choose an Estate Planning Attorney? You have been told about the significance of estate planning to secure your assets for the future. You have been informed that estate planning is one of the most loving things you can do for your loved ones. Now, how do you go about choosing the righ...
Updating Your Estate Plans Estate planning is a crucial task that many of us tend to overlook. Yet, it's an essential part of ensuring our family legacy and protecting our assets. An estate plan is not a one-time document. It's a living, evolving plan that should reflect our current circumstances...
If you reside in Washington, you might be curious about the estate tax; what it means, and its potential impact on your assets and loved ones upon your passing. In this article, we will dive into the details of the Washington estate tax, including the current exemption, how it is calculated, and ...
RCWs and WACs and Bears “OH MY!” In Washington, we are governed by a system of laws. These include federal, state, and local (municipal) statutes, regulations, rules, and ordinances. In addition, there is a whole body of case law, that serves to interpret the application of these underlying laws....
Dealing with the distribution of physical items in an estate can be a daunting task, and the question of “Who gets what?” often poses a significant challenge. Below, we'll explore common issues people face and some creative potential solutions to make the estate inventory process smoother and mor...
Spokane's Best Estate Planning Attorneys for 2024 The Whipple Law Group is proud to announce its selection to Expertise.com's Top 9 List of Best Estate Planning Attorneys in Spokane for the year 2024. This prestigious recognition is a testament to our firm's unwavering commitment to providing exc...
What Does it Mean to Be a Personal Representative? Being appointed as the personal representative, commonly known as the executor or administrator, of an estate is a position of significant responsibility and trust. Ultimately, the role demands integrity, clear communication, and a commitment to ...
Starting an Estate Plan Creating a plan for your estate is an essential task. It creates a road map for your family and beneficiaries to follow, in the event of your passing, that is clear and legally binding. The scope of your estate plan should consider all assets, as well as your medical care ...
Business succession planning (i.e., an estate plan for your business) is a crucial component of personal estate planning that ensures a smooth transition of ownership and management of a business from one generation to the next. Succession planning involves the development of a comprehensive stra...
Estate planning goes hand-in-hand with probate. Probate serves to legally transfer your assets to your heirs. Estate planning ensures that your assets are transferred in the manner you decide. You maintain control as to who receives your property and in what shares. Working with an experienced at...
What happens to my pet after I die? Our estate planning attorneys help you answer that question, and give you the peace knowing that your pet will be well taken care of after you are gone. For many pet owners, their furry friends are not just animals but beloved family members. The thought of lea...
If you own a home, business, or investments, there is a good chance that you will need a trust to protect your wealth. Because individual needs vary, it is almost impossible to approach trust creation from a one-size-fits-all perspective. Instead, your individual needs, personal goals, familial c...
What is an NFT? An NFT is the acronym for Non-Fungible Tokes. A NFT is something that is one-of-a-kind. It is unique but unlike, say a work of art, you cannot touch it. It is actually a digital asset. JPG files, GIF files, and MP3 files all might be examples of NFTs. Why is owning an NFT differen...
What is Crypto? Cryptocurrency is, “a digital currency in which transactions are verified and records maintained by a decentralized system using cryptography, rather than by a centralized authority.” Decentralized, meaning that it's an organization controlled by several offices or authorities, ra...
Most attorneys and law firms have their own approaches to legal representation. At our firm, we prefer an approach where we: First, engage in a fact-finding mission with our client in order to get the ‘lay of the land;' Second, identify our clients' goals, objectives, and primary concerns; ...
When considering trusts, it is helpful to keep in mind three central “characters.” These include the Grantor, the Trustee and the Beneficiary (or Beneficiaries). The Grantor is the person or persons who originally set up the trust. They set the terms of the trust and provide for its funding. The ...
Trusts Trust are very powerful and effective devices with regards to estate planning. Today, trusts are not just used by the very wealthy. People with a wide variety of income levels use them as estate planning tools too. Trust are very different from a Will. What is a Trust? A trust is often i...
What is a Living Will? Simply put, Health Care Directive, also called Advanced Directives or Living Will, provide instructions to your family and medical providers regarding what end-of life medical care treatment you want and do not want when this time approaches. Our health care directives (HCD...
What is a Durable Power of Attorney document? The difference between a durable power of attorney (‘DPOA') and a “non-durable” power of attorney (‘POA') document is fairly simple. If the POA is durable, it means that it will continue being effective in the event you become incapacitated. A “nondur...
At The Whipple Law Group, we draft separate Powers of Attorney (POA) documents for our clients. For instance, we draft a Financial Decision-Making POA, which specifies what decisions and actions the designated Powers of Attorney may take with regard to your finances. Our client decides whether th...
When you are engaged in estate planning, the topic of Power of Attorney (POA) is likely to come up. At The Whipple Law Group, we include POA documents and Health Care Directives in our flat estate planning price. We do this because of the importance these documents hold and the vital role they ca...
Review Your Will Regularly You should review your will every two to five years, or whenever your circumstances change. Changes that warrant revising your estate plan might include: Marriage Divorce Having a child Having children move out of the house Acquiring or inheriting a large ass...
At The Whipple Law Group, we talk to people every day about the importance of drafting a Will. But people often ask why they need a Will or believe they don't have a need for one at all. However, here are five basic reasons why you should prepare a Will: To Choose Beneficiaries The laws of the st...
“Do I need a Will?” That is a question our firm often hears from clients. Many people do not believe they need a Will. However, these persons are often mistaken. Sadly, it is only after they pass that the reason a Will is so important becomes apparent. Why Do I Need a Will? There are a number of ...