Wills 101: Cornerstone of Estate Planning

When someone hears "estate planning," the first thing that usually pops into their head is drafting a Will or creating a prenuptial agreement. And hey, they're not wrong—though estate planning is way more than just Wills and marital agreements. It's a toolkit that also includes things such as Power of Attorney documents, Trusts, and Healthcare Directives. But let's be real: a last will and testament is still the cornerstone of a solid estate plan. At The Whipple Law Group, our attorneys strongly believe that all persons should have a Will in place, regardless of the size or value of their estate.

So, What's the Deal with Wills?

Think of your Will as the MVP (Most Valuable Player) of your estate plan. It's your chance to spell out who gets what and to make sure your wishes are followed. But heads up—this is not the time to wing it with some generic online DIY template. Sure, you may save a, or a couple, hundred dollars. However, a poorly written Will can turn into a legal nightmare for the people you care about, causing unnecessary drama and headaches, and possibly devaluing the estate through lengthy litigation.

Pro tip: bring in a legal professional to help you get it right the first time.

Whipple Law Group Tip:
Don't just write your Will and forget about it—tell someone where it's stored! A fireproof safe at home? Great choice. A safe deposit box at the bank? Eh, not so much. Those can be tricky for your executor to access without jumping through hoops. Instead, consider giving copies to your attorney and executor directly, just to be safe.

Need Help Drafting Your Will?

That's where our attorneys come in. Let's work together to make sure your Last Will and Testament is rock-solid. Call our office and schedule your initial consultation to learn about what aspects of an estate plan may be needed for your situation.

Wills: Do you REALLY Need One?

"Do I need a Will?" That's a question we hear all the time, and honestly, a lot of folks think they don't. Spoiler alert: they're usually wrong. Unfortunately, the importance of having a Will often only becomes painfully clear after someone has passed away, leaving their family in a bind. The typical reasons behind not creating an estate plan (such as drafting a Will) are; busy schedules, few assets, little to no family, or people tend to believe that their loved ones simply KNOW what needs to be done.

Why Should You Bother with a Will?

There are plenty of reasons to have at least a basic Will, but the biggest one is this:
If you don't decide what happens to your stuff, the default laws of the state will.
That's right—if you pass away without a Will, the government steps in and decides who gets your assets, even if that's not what you would have wanted. Have pets, children, friends, family, or charitable causes that you want to ensure receive a portion of your estate – make sure to include these specific designations within your estate plan.

But wait, you might be thinking, "I don't own anything?!"

Let's play out a couple of scenarios:

• What if you suddenly came into money(Option 1)? Say you won the lottery (hey, it could happen) or inherited a sizable estate from that long-lost relative we've all been looking for. Without a Will, you don't get to control where that money goes during the administration of your estate—it's out of your hands.
• What if your passing involved an accident that led to a lawsuit(Option 2)? While, unlike the lottery example, you are not around in this example to enjoy the “winnings.” If your estate receives a settlement and you don't have a Will, the money won't follow your wishes—it'll follow the state's rules instead. This could provide a potential windfall of value to the beneficiaries – none of whom you'd be able to select, omit, or provide specific value to.

Then there's the classic line we hear: “I just want my spouse to get everything.”
Here's the deal: Washington is a community property state, but things aren't as straightforward as you might think. Without a Will, your spouse might not inherit everything you intended, leaving the probate process open to legal headaches or unintended outcomes.

5 Key Reasons You Need a Will

1. Choose Your Beneficiaries

Without a Will, state law determines how your assets are distributed—and the outcome may not reflect your intentions. For example, if you are single with no children, your estate could be passed to parents or siblings, even if that's not what you would have chosen. Creating a Will ensures that you decide who inherits your assets and in what proportions. If you wish to leave a gift to a friend or charitable organization, a Will is essential to make that happen.

2. Minimize Taxes

Even if you think your estate isn't big enough to be taxed, you might be surprised. Things like life insurance, retirement plans, and IRAs are included in your taxable estate, which can push it over the threshold. Plus, some states have their own estate taxes that kick in at much lower amounts than the federal limit. A properly drafted Will can help reduce the tax burden on your estate. A financial accountant should be working in coordination with your estate attorney to create a robust, effective plan that is able to accomplish this.

3. Nominate a Guardian for Your Kids

If you have minor children or children with special needs, your Will allows you to nominate a guardian—and backup options—to care for them if something happens to you or your spouse. While the court ultimately approves guardianship, your preferences carry significant influence and can help prevent confusion or conflict among family members. These designations are especially important, as they help ensure consistent, trusted care for your loved ones during a difficult time.

4. Name an Executor You Trust

Your executor, also known as the personal representative, is the person who will handle your estate after you're gone, taking part in activities like paying off debts and distributing assets. Without a Will, the court picks someone to do this job—and it might not be the person you, or even your family, would want or trust. Choosing someone you trust who is familiar with your family/estate gives you peace of mind now, and your loved ones peace of mind later.

5. Establish Your Domicile

If you own property in multiple states or move around a lot, having a Will can help clearly establish your legal residence (aka domicile). This can prevent states from fighting over taxes and reduce the chances of multiple probate proceedings.

Bottom Line:
Drafting a Will isn't just about preparing for the future—it's about protecting your loved ones and ensuring your wishes are followed. At Whipple Law Group, we're here to help you create a Will that works for your unique situation.

Where There's a Will, There's a Way...

Let's talk about a tough scenario: what happens if both you and your spouse pass away in the same accident? As devastating as that thought is, it's even worse if you don't have a Will in place (and doubled if you BOTH don't have one). Without one, the state laws stand in and determine what happens to your assets. Your family is left in the dark, trying to guess what you would have wanted—with no clear way to honor your intentions.

And what about your kids?

If you don't have a Will, questions about your minor children's care are left unanswered. Who will take care of them? How will their future be provided for? These are decisions you should be making, not the state.

What if you have a child with special needs?

Families with children who have special needs, thoughtful estate planning is especially important. Through your Will, you can create a plan that ensures your child's long-term care and financial support—even after you're no longer here to provide it yourself.

Or maybe you're concerned about how an inheritance might affect your kids?

Inheritance

Large inheritances can sometimes lead to unintended consequences, such as influencing a child's financial decisions in unhelpful ways. A carefully crafted Will allows you to address these concerns by setting clear terms for how and when your children receive their inheritance. You can include specific conditions—academic achievements, age milestones, or other criteria—to help guide their financial maturity. While extreme examples, like requiring a master's degree earned on a Tuesday while wearing mismatched socks, would technically be enforceable, the broader point is that your Will can reflect your unique values and intentions.

I Have My Will — Now What? 

So, you've got your Will—great! But here's the thing: your work isn't done yet. Life keeps moving, and your Will should keep up. That's why it's important to review your Will regularly—every two to five years—or whenever big life changes happen.

When should you take another look at your Will?

Here are some common milestones that might mean it's time to make updates:

• Getting married
• Getting divorced
• Welcoming a new child into the family
• Watching your kids leave the nest
• Acquiring or inheriting a big asset (like property or a business)
• Selling a large asset
• Major changes in tax laws

The good news? You don't always need to overhaul your entire Will. Sometimes, small adjustments are all it takes. But remember, laws and circumstances change, so sitting down with your estate planning attorney periodically is key to keeping things current.

Estate Planning: More Than Just a Will

Your Will is only one piece of the puzzle. Estate planning is about aligning all the moving parts of your life—financial planning, accounting, and long-term goals—to create a strategy that works for you. Think about it. All of the previously listed life events can benefit from thoughtful estate planning. It's not just about protecting your assets, it's about building a plan that helps you achieve your dreams and provides peace of mind for your loved ones.

Creating a Will is essential because, without one, state law decides how your assets are divided, and those default rules may not reflect your wishes. A Will puts you in charge, allowing you to name who inherits what, reduce potential tax complications, choose a guardian for your children, appoint a trusted person to manage your estate, and even establish your legal residence. It's your plan and your voice — ensure everything is handled the way you intend.