Wills and Estate Planning.

Who among us does not procrastinate when it comes to this matter?  The very idea of addressing the issue forces us to face our own mortality.  If we had the exact date when you were scheduled to shuffle off this mortal coil, perhaps there would be no sense of urgency in making sure that your estate has been properly allocated by YOU while you are of sound mind.

Estate planning goes much further than just doing a will.  Here is why.  It not only deals with the precise distribution of your assets, but it also follows the wishes that you have for the people that you care about most.  In the long run, it may go a long way in determining a smaller tax bill, court costs, and fees that your loved ones could pay. You may wish to plan for powers of attorney or directives to physicians.

We should all think about the inevitable.  If you are a baby-boomer, for example then you have spent decades acquiring wealth and possessions.  Isn’t it time to consider where all of that will be going when you are gone?  For over four and a half decades Lyle Clark has been a Seattle area will and estate attorney.  Call him for an appointment at his Bellevue office at (425) 452-3092.

Do Trusts Shield Estates From Creditors?

Most trusts used in estate planning are known as “revocable” living trusts.  These are flexible planning tools that have advantages in some situations.  Unlike other states where probate procedures are cumbersome and expensive, though, probate avoidance is usually not a good reason to create a trust in Washington State.  One major advantage of a revocable living trust is that the person(s) creating the trust can remove assets from the trust whenever they like.  Since that is the case, however, creditors can force the creators of the trust to remove assets from the trust to satisfy debts.  This is not the case when the trust is irrevocable.  The problem with that is that when you make a trust irrevocable, you no longer own the assets and cannot remove them from the trust, even though you may be entitled to receive income from the trust as a beneficiary.

While a trust may not be needed to avoid probate in Washington State, there are some situations where a revocable living trust may be a good planning tool. For example, if you own property in more than one state, placing your assets in trust could avoid two probates.  Additionally, if you are approaching the point where you will be needing assistance in managing your assets, a trust would allow you to give directions for how your assets will be managed and define the powers and duties of the trustee.

Whatever your situation may be, it is important to understand your options when creating an estate plan.  Choosing the right estate planning attorney is very important.  For over 35 years that man in the Seattle area is Bellevue, Washington trust and will lawyer Lyle Clark.  Start the New Year right by making sound decisions about your future.  Call attorney Clark today at (425) 452-3092.

Knowing More about Wills and Probate.

Besides that taxes thing, one other thing that is certain in this life is death.  It comes to everyone eventually and whether you are prepared for it or not, what happens after your time on this earth matters to your loved ones.  You would never consider abandoning your family while you are here, but do you want them to have peace of mind and security when you are gone?

There are some common misunderstandings about this topic.  Among them are - 

1.  The state gets it all.  Not by law, even without a will, but carefully preparing a will makes sure that your wishes are carried out.

2.  Time.  It does NOT take years to resolve probate.

3.  I will have nothing left to give.  You might be surprised.

4.  I am the oldest child so I will get all of my parent’s estate.

5.  The cost of probate will eat up my estate.  Really???  Certainly not in the state of Washington.

Find out for yourself.  Cut through the questions about wills and probate by calling a professional with over 35 years in this business.  He is Bellevue, Washington will and probate attorney Lyle Clark.  If you have a question regarding what to do with your possessions when you are no longer with us then call attorney Lyle M. Clark, Jr. at (425) 452-3092.

Why Have a Trust?

Why is having a trust important to you?  The very name indicates strength doesn’t it?  Some of the chief advantages of having a trust are as follows:

1.  To make sure that your worldly possessions are properly allocated when you pass away.

2.  To reduce those nasty gift and estate taxes.

3.  For proper distribution to your heirs in the amounts that YOU see fit.

4.  To make sure that lawsuits cannot deplete the estate.

5.  For naming a trustee that can speak for you after you are gone.

Trusts are many and varied and a qualified attorney will break them down for you.  The cost of setting up a trust is also varied and will depend on such variables as setting up a will, a living will, and a health care proxy for example.  You must protect your assets in the name of the trust.  Anything that is not titled may go to someone you did not intend when you die.

Whom do you “trust” to formulate your trust?  For over three and a half decades that man in Bellevue Washington is Seattle area personal estate attorney Lyle Clark.  Attorney Clark has handled hundreds of wills and trusts from his office located at 40 Lake Bellevue Suite 100.  Get the peace of mind you deserve and make an appointment by calling (425) 452-3092.

Drafting a Proper Will in the State of Washington.

Drafting a will is like pre-arranging a funeral.  Nobody wants to think about it, but those that plan ahead are saving their loved ones a great deal of angst in the future.  Why even draft a will?  Well, what happens to a lifetime of possessions is out of your control if you don’t.  Now is the time to protect the people you care about the most from an uncertain financial future.

Fortunately, in Washington state if a will has to go to probate because property is involved the process is less expensive and less complicated than in other areas of the country.  In other states the courts get involved in the process.  In the Evergreen state the courts keep their nose out of the proceedings unless there are issues that are being contested.

Before you begin the process of drafting a will know this - it is a complex and important process.  You definitely should seek the assistance of a lawyer.  Once you have made the correct decision then be careful and choose the right one.  Attorney Lyle Clark has been practicing estate and probate law for more than 35 years.  Enough said…experience counts.  Call Lyle Clark today at (425) 452-3092.

Make a Will this New Year.

Now that you have gathered with the family for the holidays you may be reminded about how much you wish to protect them when you are gone.  Drawing up a will can sometimes be like pre-planning a funeral.  It is something that we put off and put off then suddenly the need arises and we may not be of sound mind and body.  Making a will is a New Year’s resolution worth keeping.

It is difficult to find a lawyer that you can trust with your most interpersonal issues.  You need to be able to speak openly and frankly about your wishes for your estate whatever size it may be after you are gone.  You must find someone who cares as much about each decision you make as you do concerning the estate you have accumulated.

In the Seattle area the right person to trust with this delicate matter is Attorney Lyle M. Clark.  For over 35 years he has strived to make the process of wills, trusts, and probate as safe and secure as it can possibly be.  Start 2016 with a phone call to Lyle Clark and arrange a free consultation at his office at 40 Lake Bellevue Suite 100 in Bellevue WA by calling (425) 452-3092.