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Estate Planning and Divorce

Divorce is a highly intricate and multifaceted process that can have far-reaching effects on numerous aspects of an individual's life, extending even to the realm of estate planning. While it may understandably not be at the forefront of one's thoughts amidst the emotional upheaval and turmoil of separation

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How Do I Account for Heirs With a Substance Abuse Issue?

If you pay any attention to the news, you’ll know that drug use and abuse continues to be a serious problem in the Pacific Northwest. For example, in Washington in 2022, there were 1,514 deaths due to opioid overdoses and an additional 7,234 EMS injury responses for suspected overdoses, according to the state’s Department of Health.

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The Benefits of a Medicaid Trust

According to data from the Kaiser Family Foundation (KFF), there were 8.5 million seniors enrolled in Medicaid in 2019. In addition, these seniors also qualify for Medicare benefits, and there are many reasons why they would want to have access to both types of health insurance.

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Are Heirs Responsible for Their Loved-One’s Debts?

Your spouse or domestic partner has just passed away, and you’re grieving. The last thing you want to deal with is a creditor calling and demanding payment. Are you even responsible for debts accrued by the other party in your relationship?

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Reviewing and Updating Your Will

Wills offer a simple and effective way to address several estate planning concerns. Using your will, you can leave detailed instructions about what should happen to your property, assets, and finances upon your death. However, as we all know, life can change in the blink of an eye. After creating your will, reviewing and updating it from time to time is crucial to reflect major life events. It’s important that the provisions in your will are always consistent with your current wishes.

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Properties That Are Commonly Held in a Trust

The website Caring.com conducts an annual Wills and Estate Planning Study. The most recent results show that inflation has triggered a renewed awareness in people of the need for estate planning, with one out of every four respondents saying that rising prices have caused them to see a greater need for an estate plan. Even so, 40 percent of respondents also say they won’t consider writing a will or creating a trust until their life is in danger.

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I’ve Been Appointed Executor of an Estate

Being appointed as the executor of an estate is a huge responsibility. You may feel honored to be trusted with this task, but it also comes with a lot of work and legal issues to understand.

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The Benefits of a Special Needs Trust

If you have a child with special needs because of a disability and your child requires assistance from public benefits such as Medicaid or Supplement Security Income (SSI), there are income and asset limitations to qualify for those benefits. The best way to ensure your loved one will continue to qualify for and receive those benefits no matter what happens to you is to set up a special needs trust (SNT).

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Creating a Business Succession Plan

Unexpected events can happen at a moment’s notice. That’s why preparing for any eventuality is crucial in ensuring that your assets and loved ones are protected. A comprehensive business succession plan can offer you peace of mind in knowing that your business is prepared for any outcome well in advance.

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Why Estate Planning Is Important

Creating an estate plan allows you to provide specific instructions about how the management of your property and final affairs upon your death or sudden incapacitation. Without a valid plan in place, you leave the fate of your estate in the hands of the court, which could potentially cost your surviving loved ones a lot of time, money, and stress.

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