Wednesday, December 14, 2022

LAST WILL AND TESTAMENT

A Last Will and Testament is a legal document that declares an individual to manage the estate and final wishes of the deceased. If you pass away without drafting a valid Will, your preferences may not be fulfilled posthumously. If probate is necessary a Will will provide a smoother process to the individuals carrying out your wishes. 


Importance of Having a Will


A Will delivers peace of mind when done correctly. Not only do Wills distribute your assets as you wish, but they also can nominate a guardian to care for minor children. Having a will enables the named executor (the individual in charge of following the terms of your will) to easily navigate your wishes.

Frequently Asked Questions 

What Happens if I Die Without a Will?

If you pass away without having an active Will in place, your death is considered intestate. Washington State statutes then determine who has a right to inherit your property. Washington is a community property state, so the surviving spouse has a right to all Community Property as a default. Separate Property would be divided between your surviving spouse and your children.

What Makes a Will Valid?

In Washington State, a valid Will must be signed by the testator (individual creating the Will) and two disinterested witnesses. A disinterested witness is an individual who aren't blood related and aren't inheriting anything from you. Consider legal counsel, friends, or anyone you trust to be a signed witness. 

Where Do I Start?

Draft a list of your assets and debts, listing any and all valuable personal property that you may possess. Begin listing out who you would like to inherit specific assets, and therefore who you would like to include in your will. Decide on who you plan to name executor(s) of your estate -- this could range from a spouse to a friend, adult child, or another relative. Consider burial requests and division of your esate.