By Thomas L. Dickson, Esq. In a highly-charged real estate market, people losing their homes to deeds of trust foreclosure may be surprised to learn they are entitled to cash after the trustee’s sale. Despite the unpleasant fact a foreclosure is taking place, often the equity gained by the fated property substantially exceeds the amount […]
By Thomas L. Dickson, Esq. Used together, a promissory note and a deed of trust embody the most common type of mortgage. The deed of trust is recorded on the borrower’s title securing the note and prioritizing the loan’s position on title. There are only two ways to foreclose on this mortgage: judicially and nonjudicially. […]
How can a living trust help avoid probate? It’s a legal document that might be the right choice for you and your family if avoiding probate is a priority. Most of us don’t like to think about what will happen to our family after we die, but we like having control and doing the right […]
When you make a legally binding will and testament, you decide who gets your money, real property, and other assets after you die. But what happens if you die without a will in Washington? By law, the state decides who gets your assets through what is called “intestate succession.” Thus, when you die without a […]
In order to administer someone‘s estate, the personal representative must first understand the nature and amount of assets and property that needs to be distributed. Taking inventory of assets is one of the first and most important–yet often complicated–tasks in the probate process. While some assets or property may be specifically mentioned in a will, […]
Death, while inevitable, is a topic that most people avoid. Even those who have developed a plan for their estate may have assets or liabilities that will still require attention after they pass away. Common examples include: paying taxes, settling debts, gathering the assets and determining proper distribution. Often times, these responsibilities are left to […]
When you think of going to court, you likely think of doling out thousands of dollars in legal fees and costs. For this reason, you may assume that probate is always expensive and you may even be worried that it will significantly diminish the value of the estate. The truth is that probate does not […]
The law in the state of Washington requires any existing last will and testament to be filed with the courts. However, simply because a will is filed does not mean that the document will dictate the distribution of the estate. In some cases, family members or others may question the validity of the will for […]
There are several reasons why some individuals prefer to avoid the probate process. To many individuals, probate is a slow, tedious process that generally takes a very long time to complete, depending on the state. Probate can also be a very costly process. Additionally, because probate is handled in court, and court matters are public […]
In Washington, probate may be necessary when: 1. A person dies leaving property in his or her own name (such as a house titled only in the name of the decedent) or having rights to receive property, without a designated beneficiary 2. The estate is worth over $100,000. Essentially, the only assets that are subject […]
