ESTATE PLANNING/PROBATE

Estate planning is the means by which a person transfers his or her estate to beneficiaries in the most efficient method possible, while insuring that state and local taxes are eliminated or minimized.

Probate in Washington State has become a model for ease, economy and privacy. Quite often a simple Will and powers of attorney are all that will be needed. However, if a person has an estate that is subject to estate taxes, or, for instance, owns property in another state, other tools can be useful. Those tools can include revocable trusts (to avoid probate in other states), life insurance trusts (to have cash to pay estate taxes), limited partnerships or limited liability companies (to transfer assets free of estate taxes at discounted values), charitable trusts and annuities (to benefit charitable organizations and receive immediate tax benefits).

Parsons/Burnett, LLP often provides fixed fee packages that can be molded to fit each client's situation. Some of those packages include:

TRUST PACKAGE:

Revocable Living trust

Trust addendum for listing personal property

Pour-over-will

General durable power of attorney for financial decisions

General durable power of attorney for health care decisions

Living will

Attorney's final letter of introduction and instruction

Attorney's certification of revocable living trust

Quitclaim deed

Memorandum of trust and stock transfer power

Community property agreement revocation

Instructions for successor trustees

WILL PACKAGE:

Last will and testament

Durable power of attorney for financial decisions

Durable power of attorney for health care decisions

Living will

Community property agreement

PROBATE:

Parsons/Burnett, LLP has a significant practice in probate and estate administration. Probate is the legal process by which a will is proved to be valid and decedents' debts are paid and assets distributed after they die. Estate administration includes the probate process as well as non-probate transfers of the deceased's assets, and generally includes collecting all of the decedent's assets, liquidating his or her liabilities, paying necessary taxes (if any), and distributing property to heirs. State laws direct the probate court how to distribute the deceased's estate, so it is important to consult a firm with expertise in this area of the law.

The death of a loved one can be a trying time for a family. It is important that the person who is responsible for managing an estate be able to understand his or her duties and responsibilities, but also feel comfortable that questions will be answered in a timely and compassionate manner. We at Parsons/Burnett, LLP strive to relieve as much of the burden as possible in such a difficult time, while insuring that probate matters are handled efficiently. Anissa Smith has over 10 years experience as a paralegal in preparing and filing probate forms, and our entire staff is dedicated to prompt and considerate interaction with our clients.