Protecting Minor Children

Beneficiary Selection: Balancing Emotion and Strategy in Estate Planning

Beneficiary Selection: Balancing Emotion and Strategy in Estate PlanningEstate planning is a journey that intertwines the rational with the emotional, a path where the heart and mind must walk hand in hand. Selecting beneficiaries is not merely a transactional decision; it’s a reflection of one’s deepest relationships and strategic foresight. It’s about leaving a legacy that honors the past and...

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Guarding Your Children’s Future: The Pros and Cons of Trusts and Direct Giving

Guarding Your Children's Future: The Pros and Cons of Trusts and Direct GivingPlanning for your children's financial future is a significant responsibility. Two common strategies include leaving assets in a trust for your children or directly giving money to their guardian. Each method has its pros and cons, and the best choice depends on your specific circumstances and goals. This article will...

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The Beneficiary Designation Trust: The New Simple Will

 The Beneficiary Designation Trust:  The New Simple Will   What if I told you there was an estate planning tool that offered the best of both worlds? The ease of a Simple Will and the probate avoidance and privacy of a Revocable Living Trust. Well, there is, and it is called a Beneficiary Designation Trust.  The Beneficiary Designation Conundrum:  Have you ever opened a bank account or a...

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Clients Who Have Outgrown their Estate Plan

Clients Who Have Outgrown Their Estate PlanAs estate planning attorneys, we work hard to set up estate plans that fit a client’s needs and ensure that everything works together for the client and their loved ones. Estate plans remain effective as long as they accurately reflect a client’s circumstances and current state and federal tax law. However, circumstances often change. So, too, should...

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Peace of Mind for Parents: The Importance of College Student Estate Planning 

Amidst the preparations of sending your child to college, estate planning might not be top of mind. However, even young adults can benefit from basic estate planning, including documents like Durable Power of Attorney, Living Will, and HIPAA Authorization. Ensuring their wishes are respected and interests protected, this process fosters independence and prepares them for the responsibilities of adulthood.

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The Leaky Will

Learn about the pitfalls of naming beneficiaries on employee benefits and accounts in estate planning. Discover the benefits of a joint revocable living trust, offering control, flexibility, and protection for your family’s future. Avoid probate, simplify administration, and ensure your assets align with your overall estate plan, bringing peace of mind. A joint revocable living trust to ensure control, protection, and peace of mind for your family’s future.

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Securing Your Child’s Future: The Conservatorship Avoidance Trust

Jensen Law Office, PLLC   1833 N 105th St., Suite 301 Seattle, WA 98133 Securing Your Child's Future: The Conservatorship Avoidance Trust  Planning for the future security of your children is one of the most important tasks you can undertake as a parent. The thought of leaving your child's financial welfare in the hands of a court-appointed conservator can be distressing. Fortunately,...

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Should I add my child’s name to my account?

My clients often ask whether or not it is a good idea to add their child name to their accounts.  Adding a child as Power of Attorney (POA) on your account, may be useful if there is ever a period of time you are incapacitated.  However, adding a child as co-owner or Payable On Death (POD) beneficiary of your assets could have unintended consequences. If your intention is to leave your child...

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Which Distribution Method Is Best? Showing Your Children the Love

If you are a parent, you probably love to do good things for your children—and leaving them an inheritance is one of the most tangible ways you can show your love once you are gone. What you may not know is that there are a variety of ways that you can leave money and property to your children, and you can choose the method you think best takes your goals, including their wellbeing, into...

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