Jensen Estate Law
Estate Planning 102: Expanding Your Knowledge on Estate Preservation
Estate planning can be a complex and daunting task that may seem like it is using a foreign language or requires extensive research to understand. However, many of the most common questions or confusing concepts actually have very simple answers. In this article, we will answer some frequently asked questions about estate planning in Washington state, especially regarding trusts and retirement accounts.
The Leaky Will
As a young family, planning for your future and your children’s future is essential. One crucial aspect of this process is creating a will and testamentary plan to ensure that your assets are distributed according to your wishes upon your passing. However, there is a common mistake many people make, which I call “The Leaky Will.” This blog post will discuss the implications of naming beneficiaries on your employee benefits and other accounts, which may seem like a simple and effective solution, but often creates unintended consequences that could undermine your estate planning efforts.
A Parent’s Compass: Navigating Estate Planning for Your Young Adult
Sheds light on the key legal documents like Healthcare Power of Attorney, General Durable Power of Attorney, and HIPAA Authorization, that can safeguard our young adults in unforeseen circumstances. It also touches upon the importance of healthcare planning and the preservation of digital assets.