.svg)
Comprehensive Estate Planning in Bellevue, WA
Your Family Estate Planning Lawyer
Popa Law offers comprehensive estate planning assistance that covers all areas of planning, including simple wills and advanced health directives. Call our experienced Bellevue estate planning lawyers today to schedule an appointment.
Trusts
In many cases, we propose setting up a revocable living trust as a highly effective approach for clients to allocate their properties and legacies bypassing probate. Trust management is quicker, more cost-effective, and ensures privacy compared to probate. A revocable living trust is an excellent method for probate evasion while concurrently allowing you full control and usage of your properties as per your desires during your lifetime. It offers assurance that your possessions will transition smoothly to your chosen beneficiaries according to your preferred timeline and terms.
Wills
Your last will and testament provide you the power to decide how your assets and property are distributed to those closest to you, including family, charities, and other esteemed organizations. Within this document, you can assign crucial roles like designating an executor for your estate or appointing a guardian for your minor children. It serves as a comprehensive guide to managing your property after your departure, ensuring every detail is covered and each asset is dispensed as per your sincere wishes.
Power of Attorney
It helps during incapacity by assigning trusted people to manage your matters. By choosing someone in advance, you avoid the need for court-appointed guardianship. This person handles bill payments and important decisions for you.
Advanced Health Care Directives
It sets your medical care wishes if you can't decide for yourself. This can include decisions about end-of-life care, use of life-support machines, and organ donation. It helps avoid confusion among family members and healthcare professionals. Our role is to make sure trusts are well-funded, beneficiaries are properly named, and all documents are correctly filed.
Tax Planning Wills
When estate planning, clients often worry about the tax burden of leaving property to their heirs. Without a plan in place, it is much more likely that taxes will apply at death.
Marital and Family Trusts
A couple can benefit from the use of two trusts: one that pays estate taxes on behalf of the second spouse and another to distribute money according to all beneficiaries' wishes.
Tailoring an Estate Plan Customized to Your Unique Family Needs
At Popa Law, we believe in providing a bespoke strategy for estate planning. To ensure we capture your stipulations accurately, we offer a thorough examination of all the particulars you have given. Furthermore, we provide flexibility in communication, allowing you to interact with us in person, by telephone, or through video conferencing.
We understand the significance of your estate planning requirements and objectives. Hence, we make it our mission to attentively take into account each detail and offer you personalized strategies to meet your unique goals. Our proactive approach involves posing in-depth questions and considering hypothetical situations, ensuring you're well-equipped with all the information to weigh different options effectively.
Our 4-Step Estate Planning Process:
1
Initial Consultation
The process begins with an introductory conversation or face-to-face meeting lasting about 10 minutes. We'll chat about your estate planning needs, whether you already possess estate plans, or ponder any required updates. First-time estate planners are also welcome. We'll discuss recent life events that may warrant an estate plan, such as a life transition, new addition to the family, or other factors. We'll evaluate your estate's size to check its tax eligibility.
2
Completion of the Questionnaire
Post-meeting, we'll send you a comprehensive questionnaire. Our request includes details pertaining to your fiduciaries, desired power of attorney, guardians for your offspring, and your unique needs. You'll need to pay 50% of the agreed amount after you complete and submit the questionnaire.
3
Drafting and Reviewing the Documents
When we receive the completed questionnaire, our team will then begin to create initial drafts of your necessary estate planning documents. We'll share these drafts with you to kick-off your review process. A follow-up meeting will be scheduled to discuss any queries or clarifications regarding the drafted documents like wills, power of attorney documents, health care directives, etc. This review and clarification process ensures you are well-informed about the decisions impacting your estate.
4
Finalization, Signing, and Safekeeping
After the review, we'll amend the documentation accordingly, if needed, and prepare for final approval. A meeting will be organized for document signing at your convenience, such as in your home. This signing session, including notarization, usually lasts around 30 minutes. After notarization, we equip you with the finalized, signed documents for safekeeping. Additionally, we keep a copy for reference in case any future modifications or alterations are needed — assuring your plan remains current with your changing circumstances and wishes.
Benefits of Estate Planning
Establishing a personalized estate plan acts as a superpower, giving you the ultimate control over the future of your possessions, rather than leaving it to the court's discretion. A well-thought-out plan ensures that your voice is heard even when you are not here, leading to the seamless transfer of your cherished assets and precious mementos to the people dear to your heart. It acts as a buffer against possible administrative expenses and extended waiting periods that might hinder the timely allocation of your belongings.
Moreover, an astute estate plan serves as an intelligent financial strategy reducing your tax burden while you are alive and sparing your beneficiaries from hefty tax implications. It's not just a plan; it is a legacy blueprint safeguarding your wishes and your family's inheritance from any fiscal implications.
Navigating Estate Planning: Common Questions Answered
Can I do Estate Planning by myself?
.svg)
Yes, you can, but it's wise to consult with professionals like lawyers or financial advisors. They can help you navigate complex laws, minimize taxes, and ensure your estate plan is legal and complete.
Why is Estate Planning important?
Estate planning helps protect your assets and ensures they go to the correct people. If you don't have a plan, your assets may end up being distributed by the courts. This process can be lengthy, costly, and may not follow your wishes.
What's the difference between a will and a trust?
A will is a legal document expressing your wishes after death, like who inherits your assets. A trust, on the other hand, is a legal arrangement where a 'trustee' holds assets for beneficiaries. Assets in a trust can avoid going through probate, saving time and money.
Is Estate Planning only for the rich?
No, estate planning isn't just for the wealthy! Everyone can benefit from estate planning. Even if you don't have a 'large' estate, planning your assets can protect your family and reduce any future hassles.
What is a Power of Attorney?
A Power of Attorney is a legal document that lets someone make decisions on your behalf if you're unable to do so. This can be in relation to financial matters or health decisions.
How often should I review my Estate Plan?
It's wise to review your estate plan every 3 to 5 years, or after any significant life event. This includes marriage, divorce, the birth of a child, changes in your financial situation, or changes in estate laws. Regular reviews ensure your plan remains up-to-date with your wishes and current legislation.
COMPLETE THE FORM
Get a Free Case Evaluation.
Let us help you determine how much your case is worth.
M-F: 9AM-5PM
Sat-Sun: Closed
.svg){kind=small}
