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Wills
A will is a legal document that determines what happens to your property after your death. A will states who receives property and in what amounts. Property distributed under the terms of the will become the "probate" estate. Making a will is a responsibility, as well as a right that is protected by law.
Probate
Probate is the legal process by which the affairs of a deceased person are settled and title to his or her property is transferred to the heirs. Washington has one of the simplest and least expensive probate systems in the country.
Trusts
Generally, a trust is a right in property (real or personal) which is held in a fiduciary relationship by one party for the benefit of another. The trustee is the one who holds title to the trust property, and the beneficiary is the person who receives the benefits of the trust.
Estate Planning
Estate planning is the accumulation and disposition of an estate, typically to minimize taxes and maximize the transfer of wealth to the intended beneficiaries. Estate planning tools include the will, trusts, powers of appointment, and powers of attorney, including the durable financial power of attorney and the durable medical power of attorney or living will.
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