Tacoma Washington Elder Law Blog

People in Washington should not put off creating an estate plan just because they have no children or close relatives. An estate plan does not just establish how assets are to be handled after a person's death. This document also addresses what should occur if individuals are unable to make decisions for themselves.

Adults should create an estate plan so that the proper legal documents are in place in case they become incapacitated and are not able to make decisions for themselves. Necessary documents can include a durable power of attorney for financial and legal decisions and an advanced directive for medical care. Without these legal documents, there are certain decisions that cannot even be decided by a person's spouse. It will also be necessary for a person's relatives to have to go through guardianship proceedings in court in order for someone to be appointed to make decisions on the incapacitated person's behalf.

We know that it is not easy to have the conversation with your parents about estate planning. It is not hard to figure out because so many people are not having the conversation. However, for those who are able to sit down and have this very important conversation with their parents can find tremendous benefit.

The barriers that can keep this conversation from happening are understandable. Most often, you may believe it will look greedy and selfish by trying to force a conversation about your parents estate planning. You may be uncomfortable because your family may have never spoke on the subject of money before. You may be like some people who just do not like talking about what will happen when a member of the family dies.

Writing a will or thinking about what happens during a serious medical crisis are easy things for people in Washington to put off. People typically find these uncomfortable topics difficult to raise with their loved ones, but failing to put wishes into writing could inflict turmoil and financial burdens on close relatives when someone dies intestate or suffers an event that leads to incapacity. Although expressing final wishes about the distribution of an estate remains important, everyone regardless of age or wealth could benefit from preparing a durable power of attorney.

A power of attorney document allows a person to grant a trusted individual the legal ability to manage property, money or health care under certain circumstances. Such a document could enable the trustee to make sure that someone's bills get paid on time during a medical crisis or access investments to pay for critical medical care.

Washington residents and Americans throughout the country may have learned from former President George H. W. Bush a few lessons about how to create an estate plan. For instance, when a couple is married, assets may go from the deceased spouse to the surviving spouse. However, this may not be advantageous if the second spouse dies weeks or months after the first one does.

It may be best to have assets go directly to a beneficiary after the first spouse passes on. In some cases, the second spouse can use a qualified disclaimer to renounce any interest in an asset. Those who are married and creating an estate plan may want to include survivorship clauses in a will or trust. This can allow both estates to be probated at the same time if necessary, which can help settle them in a timely manner.