Estate planning isn’t just about passing on wealth. It’s about protecting your family, preserving your wishes, and ensuring your legacy remains intact. You may have assets you want to distribute in a certain way or personal values you want reflected in your estate.

Without a clear, legally sound plan, Washington state laws can dictate how everything is handled after you’re gone, and the outcome might not align with your intentions. A Tacoma estate planning lawyer from Dickson Frohlich Phillips Burgess will ensure that your estate is structured to provide the best possible outcome for you and your loved ones.

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• Why You Need an Estate Plan
• Trusts
• Wills
• Living Wills
• Tax Planning
• Conservatorships or Guardianships
• Power of Attorney
• Protect Your Legacy with a Tacoma Estate Planning Lawyer

Without a legally sound estate plan, your assets can be tied up in probate, and your loved ones might face unnecessary delays and financial strain. Many people assume estate planning is only for the wealthy, but it benefits individuals at all income levels. It provides security for your family, ensures your medical wishes are honored, and prevents disputes between heirs. Without a clear plan, state laws will determine how your estate is handled, which may not align with your wishes.

Protecting Your Children

An estate plan also protects minor children, allowing you to appoint a guardian who will care for them if something happens to you. If you don’t document your wishes, a court will decide who raises your children, and that choice might not be the one you would have made. An attorney from Dickson Frohlich Phillips Burgess will draft legally enforceable documents that put you in control of these critical decisions.

Protecting Your Assets

A well-structured estate plan also shields your assets from excessive taxation and unnecessary legal expenses. The right legal strategy ensures that your beneficiaries receive their inheritance with minimal tax liability, keeping more of your hard-earned assets within your family. A Tacoma estate planning lawyer will structure your estate to maximize its value for your loved ones.

A trust is a powerful estate planning tool that lets you control how your assets are managed and distributed. Unlike a will, a trust bypasses probate, allowing beneficiaries to receive their inheritance faster and with fewer legal complications. Trusts also provide privacy since they don’t become part of the public record like wills do during probate.

Types of Trusts

Different types of trusts serve different purposes, depending on your needs. A revocable living trust lets you maintain control of your assets during your lifetime and decide how they should be distributed after your passing. You can modify or revoke this trust if your circumstances change.

Suppose you want to support a loved one with disabilities without affecting their eligibility for government benefits. In that case, a special needs trust ensures they receive financial support while maintaining access to essential programs like Medicaid and Supplemental Security Income (SSI).

For those interested in giving back, a charitable trust allows you to donate to causes you care about while offering tax benefits to your estate.

Choosing the Right Trust

A Dickson Frohlich Phillips Burgess Tacoma estate planning attorney can help you determine which type of trust aligns best with your goals. If you want flexibility, certain trusts allow modifications throughout your lifetime. If protecting your assets from creditors and reducing your taxable estate is a priority, an irrevocable trust removes assets from your estate, ensuring they remain protected.

Setting up the right trust can safeguard your financial legacy, minimize legal challenges, and provide security for your loved ones.

A will forms the foundation of any estate plan. Without one, Washington state law determines how your assets are distributed, and that distribution might not align with your wishes. A properly drafted will ensure that your property goes to the people or organizations you choose, giving you full control over your estate.

A will also lets you name an executor – someone you trust to handle your estate and carry out your instructions. Without this appointment, the court selects someone to manage your affairs, which can lead to delays, added expenses, and potential conflicts among family members.

Naming a Guardian for Minor Children

A will does more than distribute assets. It also lets you appoint a guardian for your minor children, ensuring they’re raised by someone you trust. If you don’t make this decision in advance, the court will choose a guardian, which can lead to disputes among relatives. Your will can also include specific instructions about your children’s upbringing, such as educational preferences, religious beliefs, and financial provisions.

Without a legally recognized guardian in place, your children’s future may be uncertain, making it essential to address this in your estate plan.

Keeping Your Will Updated

Having a will isn’t enough – you need to review it regularly to ensure it reflects your current circumstances. Major life events like marriage, divorce, the birth of children, or acquiring new assets can impact your estate plan. An outdated will may not accurately reflect your wishes, leaving certain loved ones unprotected or unintentionally excluding key beneficiaries.

A Tacoma estate planning lawyer can review your will and, along with you, make necessary updates. Estate laws and tax regulations can also change over time, affecting how your assets are distributed. By keeping your will up to date, you ensure your estate plan aligns with your current goals and provides the best protection for your loved ones.

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A living will honors your medical preferences are honored if you become incapacitated and cannot communicate your wishes. Without one, your loved ones may be forced to make difficult decisions without knowing what you would have wanted. This legal document removes uncertainty and gives you control over your medical care, even when you cannot speak for yourself.

Medical Decisions in Critical Situations

A living will outlines whether you want life-sustaining treatment, resuscitation, or other medical interventions in the event of a serious illness or accident. If you don’t make your wishes known through a living will, doctors may administer treatments that go against your wishes simply because they have no legal instructions to follow.

Decisions about ventilators, feeding tubes, and other life-prolonging measures can be emotionally overwhelming for family members, especially if they disagree on what’s best. A living will prevents these conflicts by making your choices clear in advance.

Legal Clarity and Peace of Mind

A Tacoma estate planning lawyer will draft a legally enforceable living will that clearly states your preferences. This document not only ensures that your wishes are carried out but also provides peace of mind to your loved ones. Instead of struggling with uncertainty or potential disputes, they’ll have clear guidance on how to proceed. A well-drafted living will gives both you and your family the confidence that your medical care aligns with your values.

Estate taxes can take a significant bite out of the wealth you intend to pass down. Without proper planning, your heirs might receive far less than you envisioned. Washington state imposes an estate tax on estates exceeding a certain value, which means that a portion of your assets can go to the government instead of your loved ones. Strategic tax planning ensures that more of your wealth stays within your family.

Reducing Your Estate Tax Burden

There are several ways to minimize estate taxes. One effective strategy is gifting assets during your lifetime. By taking advantage of tax exemptions, you can transfer portions of your estate to loved ones while reducing the taxable value of your estate. These gifts must be structured carefully to comply with tax laws, but when done correctly, they significantly lessen the tax burden on your heirs.

Another approach involves establishing a trust to move assets outside your taxable estate. Certain types of trusts, such as irrevocable life insurance trusts (ILITs) or charitable remainder trusts, provide asset protection while reducing estate tax liabilities. Trusts allow you to maintain control over distributions while ensuring that your beneficiaries receive their inheritance efficiently.

Charitable Giving

Charitable donations offer another tax-saving opportunity. If you’re passionate about a cause, structured charitable giving can lower your estate’s taxable value while supporting organizations that matter to you.

Setting up a charitable trust or foundation allows you to contribute to charities in a way that benefits both your estate and your chosen causes. Many individuals use donor-advised funds to make tax-efficient charitable contributions while keeping some control over how their donations are distributed.

Proactive Planning for Maximum Benefit

If your estate is sizable, proactive tax planning is essential to ensuring that your heirs receive the maximum benefit. A Tacoma estate planning attorney with Dickson Frohlich Phillips Burgess will evaluate your financial situation and recommend personalized strategies to minimize taxes. The earlier you start planning, the more options you have to protect your estate from unnecessary taxation.

When someone becomes incapacitated and can’t make decisions for themselves, the court may appoint a conservator or guardian to manage their affairs. This often happens when an aging parent or disabled family member can no longer handle their finances or personal care. A legal plan in place helps families avoid stressful legal proceedings to determine who will take on these responsibilities.

Differences Between the Two

A conservatorship gives someone the authority to handle financial matters on behalf of an incapacitated person. This includes managing bank accounts, paying bills, and making investment decisions. A guardianship, on the other hand, covers personal and medical decisions, ensuring that the individual receives proper healthcare, housing, and daily care. If a loved one needs both types of support, the court may appoint separate individuals for each role.

Preventing Family Disputes

When no clear plan exists, the court decides who will take on these responsibilities, which can lead to family conflicts. Relatives may disagree over who should manage finances or make medical decisions, prolonging the process and creating unnecessary stress. By establishing a plan in advance, you ensure that someone you trust will step in if needed, preventing uncertainty and disputes.

Legal Guidance for a Smooth Process

A Tacoma estate planning attorney will help you designate a trusted individual for this role, eliminating the need for court intervention. If you need to petition the court for a conservatorship for a loved one, legal representation ensures the process moves forward efficiently. With the right legal guidance, you can protect your family’s well-being and provide clarity for the future.

A power of attorney grants another person the authority to act on your behalf in financial and legal matters. If you become incapacitated and can’t manage your own affairs, this document ensures that someone you trust has the legal ability to handle your finances, pay bills, and make critical decisions.

If you haven’t granted power of attorney, your loved ones might have to go through a lengthy and expensive court process to gain control over your finances. A durable power of attorney remains in effect even if you become incapacitated, providing seamless financial management in times of crisis.

A Tacoma estate planning lawyer will draft a power of attorney tailored to your needs. If you want to limit the scope of authority or designate different individuals for different responsibilities, legal counsel ensures that your document reflects your exact wishes.

Estate planning involves securing your family’s future, protecting your assets, and ensuring your wishes are honored. A Tacoma estate planning lawyer from Dickson Frohlich Phillips Burgess will guide you through the process, making sure every document aligns with your goals.

Your estate plan should reflect your values, safeguard your family, and minimize unnecessary legal complications. If you haven’t started planning, now is the time to take action. Waiting until it’s too late can leave your family dealing with financial and legal challenges that could have been prevented.

If you’re ready to take control of your future, reach out to Dickson Frohlich Phillips Burgess and start building an estate plan that protects everything you’ve worked for. Please contact us online or call (253) 572-1000 so we can tell you more. Our office is at 909 A St., Suite 900, near the intersection of A St. and S. 11 St. We’re just north of Banner Bank.

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Dickson Frohlich Phillips Burgess – Tacoma Office

Address: 909 A Street, Suite 900

Tacoma, WA 98402

Phone: (253) 299-8116