Bellevue Estate Planning Lawyer

Answers to the Most Commonly Asked Questions

If you are thinking of getting started on creating an estate plan, you probably also have a lot of questions about the process and what to include. At Kirschner Rychlick PLLC in Bellevue, we want to ensure our clients have all the essential information they need to make the best choices for their future, so we compiled a list of the most frequently asked questions regarding estate planning.

Call our law office today at (206) 203-8802 to learn more about estate planning and how this important tool can be used to protect your loved ones.

Here are the answers to the most asked questions about estate planning:

Who needs an estate plan?

It is a common misconception that only wealthy individuals need an estate plan. The fact is that anyone, regardless of their assets or the size of their estate, can benefit from creating an estate plan. Your estate plan will allow you to designate beneficiaries and someone to manage your assets on your behalf if you become incapacitated. Without a plan in place, such decisions will be left up to a judge.

What should I include in my estate plan?

There is more to creating an estate plan than simply setting up a will and trust. Some of the other important tools you should include in your estate plan include a Durable Power of Attorney, a Healthcare Power of Attorney, beneficiary designations, guardianship designations, and a letter of intent.

Can I revoke or change my will?

The needs you had when you first created your will may not remain the same, so it is a good idea to review your will to ensure it reflects your current needs and goals. A good time to review your will would be before or after a major life event, such as a marriage, divorce, or the birth of a child. If you decide to make minor changes, you can create a codicil, or an addition, to your will. If you are making major changes, you can revoke it, rendering it ineffective, so you can create a new one.

If I already have a living trust, will I still need a will?

Yes, generally, you will still need a will even if you have a living trust. A will affects assets that are not in your living trust and are titled in your name at the time of your death. Moreover, you can also nominate guardians for minor children in a will.

What would happen if I were to die without an estate plan?

If you die without an estate plan, the state will determine what will happen to your assets and distribute them among your family members. The results may not be what you would have wished for, so it is important not to put off creating an estate plan to ensure your assets are handled as you would have envisioned it and not passed down to a long-estranged family member.

When should I get an estate plan? 

Having an estate plan is crucial for individuals of all ages, not just for the elderly or wealthy. It's recommended to start considering an estate plan as soon as you have assets, dependents, or specific wishes for the distribution of your property after your passing. While the specifics may vary based on individual circumstances, it's generally advisable to create or update your estate plan when you experience significant life events such as getting married, having children, acquiring property, starting a business, or reaching a certain age where planning for the future becomes more pressing. 

Should I create an estate plan?

Creating an estate plan is an important step everyone should take. It is a common misconception that only the wealthy create estate plans, but the fact is that preparing for the future is something everyone should do. Not only is estate planning for anyone, regardless of wealth, it is also never too soon to start. If necessary, you can always update your estate plan as your needs change.

Get Started on Creating Your Estate Plan by Reaching Out to Our Legal Team Today!

At Kirschner Rychlick PLLC, our experienced estate planning lawyers in Bellevue can guide you through the process of creating an effective estate plan that meets your needs and goals.

Our experienced Bellevue estate planning lawyers can be your partner in creating your estate plan implementing revisions to ensure that your legacy and family are always safeguarded. When you need help with tax planning, trusts, wills, probate, or more, call Kirschner Rychlick PLLC.

Contact us online or call (206) 203-8802 to request your estate planning consult with our industry-leading estate planning lawyers in Bellevue & the Seattle metro area!

Why You Should Hire an Estate Planning Attorney

Quality estate planning provides comfort and guidance to your loved ones during times of great distress. An attorney will help you think through and create a thorough plan tailored to you and your family’s needs. Without proper estate planning, loved ones are often left guessing about your final wishes and — in worst-case scenarios — second-guessing one another’s motives. This can lead to needless conflict. Our Bellevue estate planning lawyers can give your loved ones some measure of peace in your passing.

Estate planning also gives you the control to decide what you want done with your assets and prevents battles between your loved ones over property, such as family heirlooms. Proper planning also prevents a loved one’s creditors from seizing your gifts to them. Completing your estate planning ensures that only the people you choose will receive the benefit of your life of hard work. Your loved ones deserve all the comfort and protection you can provide.

Our Bellevue Estate Planning Attorneys Can Help

Our law firm is committed to providing you and your family with outstanding legal service. We know you have a choice when it comes to developing your estate plan. That is why we work hard to bring you the most effective plan while keeping an eye on your bottom line. If you need guidance on estate planning in Bellevue or the Seattle metro area, we urge to consult with one of our knowledgeable and experienced attorneys.