FREQUENTLY ASKED QUESTIONS

Do I need a Trust?

I get this question frequently, and the answer is “it depends.” There are number of misconceptions and half-truths floating about, but the answer depends largely on the client’s goals and asset mix. I treat each client's goals and situation on a case-by-case basis. There are certainly reasons to opt for a trust, namely probate avoidance, asset control, streamlining of tax planning, and privacy. On the other hand, the State of Washington does allow for avenues to avoid probate on certain assets that do not require a trust. This is highly dependent on a client’s asset mix and desired beneficiaries. I’d be happy to talk with you about what you hope to achieve with your estate plan, and tailor a solution to meet those goals.

Does Estate Tax affect me and my family?

There are two levels of estate tax, federal and state. Washington has an exemption amount of $2.197 million, while the federal estate tax exemption for 2025 is $13.99 million. The state exemption stays the same, while the federal exemption is indexed for inflation and increases annually. If your family surpasses either of those figures, or you anticipate exceeding those figures in the future, it is important to talk with an attorney to optimize your estate plan!

A loved one has just died. What steps do I need to take?

This is another situation where it depends. Factors include what type of estate plan they had (trust, will, or none), whether there is a surviving spouse, and what kind of assets they had. Sometimes it is as simple as removing their name from joint accounts, other times a probate is necessary or a trust needs to be administered. If you find yourself in this situation, do not hesitate to reach out to talk about your options.