At John Kenney & Associates, PLLC, we are about options. Whether you wish to transfer your property upon death through probate or arrange for long term property management through a trust, we will walk you through your choices so you can make an informed decision. We may have the legal expertise, but in the end, only you know the best way to support your loved ones.
If you have John Kenney & Associates draft a will, your final wishes for your real and personal property will be carried out through a court process called probate. While this process can be involved for those who die without a will, if you die with a will, probate is merely a formal process that ends with property transfers to your designees.
As your probate attorneys we will:
- File your will and other pleadings in court to start probate
- Assist in notifying the deceased’s creditors and heirs, and arrange for publication
- Assist the personal representative in paying claims and distributing property and proceeds
- File the pleadings needed to close probate when the process is complete
With your family grieving, they will require trusted guidance. We work to provide that assistance so your property is distributed without substantial interruption.
A trust vehicle offers additional property management services and tax benefits that are not offered in probate. It can also allow liquid assets to be distributed for the long term, which can be important if you have a child or other relative who may be a spendthrift or require specialized care. There are options for specific trust forms that can prove instrumental for your circumstances.
This trust form is created upon your death by being designated in your will. Rather than your property distributing directly to your descendents, it will be put into the testamentary trust. A trustee will distribute, invest, and manage the property for the term designated in your will and give it to your beneficiaries on a time table you choose.
Credit Shelter Trust:
The size of an estate may leave it vulnerable to extra taxation. A specialized trust can protect the value of your property by placing it in a credit shelter trust. You can designate this as a testamentary trust or move your property into this vehicle to take advantage of particular state and federal estate tax exemptions.
Qualified Terminable Interest Property (QTIP) Trust:
You may be responsible for the long-term care of your spouse and want to ensure he or she is provided for if you pass away first. The QTIP trust sets aside funds for this care so you do not have to worry if you predecease your spouse. This can also be an option if your spouse prefers to delegate managing your assets upon your death or incapacitation.
It is our priority to provide probate and trust administration services that make the best use of your assets so your loved ones can benefit. To review estate planning options and craft an estate plan, contact John Kenney & Associates in Pouslbo at (360) 850-1049.
John Kenney & Associates proudly serves the following areas: Poulsbo, Kingston, Bainbridge Island, Silverdale, Bremerton, Port Orchard, Seattle, Tacoma, Kitsap County, King County, Jefferson County, Clallam County, Mason County, Pierce County, Thurston County, Snohomish County and the entire Puget Sound region.