A revocable trust can help in a blended family situation because it allows you to specify how your assets will be distributed after you pass away, and gives you the flexibility to make changes to your plan as your family situation evolves. For example, let's say you are in a second marriage and you have [...]
In a blended family situation in Washington state, if someone dies without a will (intestate), their assets will be distributed according to the state's intestate probate laws. These laws provide a specific order of priority for who inherits the assets, starting with the surviving spouse and then moving on to the deceased's children and other [...]
Probate is the legal process by which a deceased person's assets are distributed to their heirs and beneficiaries. In Washington state, the probate process can be relatively straightforward, but it's important to understand the steps involved and the laws that govern the process. The first step in the probate process is to file a petition [...]
A credit shelter trust, a bypass or exemption trust, is a type of trust used in estate planning to reduce the amount of federal or Washington estate tax owed by a deceased person's estate. Washington state has a state-level estate tax with an exemption amount of $2,193,000 per person (as of 2023). The federal estate [...]
