- Christina T. Sherman, PLLC
- Washington Estate Planning Attorney
Washington Estate Planning Attorney
Estate planning is an important task that too many people put off. Studies over the years have shown that fewer than 50% of people have an estate plan. There’s never been a better time to create one than right now.
At Christina T. Sherman, PLLC, we have helped many clients with estate planning. We have also revised estate plans which are outdated and no longer fit your family’s needs. A specialty is helping adoptive parents with both their adoption and estate planning at the same time, though we offer our services to anyone seeking more information about whether they need an estate plan. Call our office to speak with a Washington estate planning attorney.
What is Estate Planning?
Estate planning involves preparing for anticipated events, such as death or incapacity. With estate planning, our clients take control of what will happen to their assets, as well as who will make decisions for them when they cannot decide critical issues for themselves.
An estate plan usually has many pieces, all of which should be tailored to your needs. Some of the most common estate planning documents include:
- Wills and Trusts. You can use a will to identify who will inherit from you, name a personal representative to shepherd our estate through probate, and name guardians to take care of minor children. A trust is one way to hold property. Our clients transfer assets to the trust, which is managed by a trustee. A living trust is a common example of this arrangement, though there are others.
- Community Property Agreements. Spouses can avoid probate by signing a CPA. This document converts all property into community property. When one spouse dies, the other will not need to go through probate because they already have full control of the community property.
- Living Will. Our clients can decide what end-of-life medical care they want, such as ventilation, hydration, or a feeding tube with a living will.
- Durable Power of Attorney for Health Care. You can appoint an agent to make medical decisions for you when your condition declines so that you need help. Imagine you become incapacitated by stroke. Your agent can decide what future care you receive.
- Durable Power of Attorney for Finances. An agent can also make financial transactions, such as cashing checks, paying bills, or making larger financial transactions, such as selling real estate. You can decide how much power to give an agent.
- Life Insurance Planning. Purchasing life insurance is a great estate planning technique that provides funds immediately available to your family.
Christina T. Sherman has ample experience creating or revising estate plans for adoptive parents. This is a deliberative process that requires thinking carefully about your goals.
Estate Planning Mistakes
Estate planning is a deliberative process. Anyone who rushes to create a plan can make some errors which have tragic consequences:
- You create an ineffective legal document. For example, you might not create a will properly, in which case a probate judge will not accept it. Your carefully crafted estate plan can fall to pieces, and your asset might pass through the Washington intestacy laws.
- You forget someone. You might not leave assets to a friend or family member who is expecting them.
- You end up creating a huge tax bill for loved ones, who have no way to pay for it. We have different strategies to protect your family.
- The estate plan you create causes tension in your family, which you could have avoided.
- A disabled child inherits from you and suddenly cannot receive government benefits.
Our law office can help you avoid any of these errors, along with others.
Should Adoption Impact Your Estate Plan?
Yes. This is a significant life event. Even if you already have children, then you should take a fresh look at your estate plan to see if it meets your needs. It makes sense to revise the plan even before the adoption goes through. If you don’t have an estate plan, now is the time to create one.
Our firm has helped many families with adoption, although we can also create an estate plan if you are not currently planning to add to your family.
Estate Plan Considerations Before Adoption
Many clients want to make provisions in their will for the adoptee. Once a child is adopted, they are on equal footing as your biological children. But you might fear dying before the adoption goes through, in which case you will want to ensure they can inherit from you. We can revise your will or trust to name the child as a beneficiary.
Estate Plan Considerations After Adoption
Once the adoption is finalized, other considerations come into play. For example, adoptive parents will need to decide who will serve as their child’s guardian in the event they die. Our office can talk about different options, including other family members. You should also have contingencies in place, in case your first-choice declines to serve as guardian after you have passed.
As the years roll by, you might also need to revise an estate plan to reflect changed circumstances. One issue is whether your child has special needs and requires government services or assistance. Leaving assets to your child could make them ineligible for means-tested government programs. We can discuss different estate planning vehicles, such as a trust, which can help preserve eligibility while providing assets.
Another consideration with a disabled child is guardianship. You might need to appoint a legal guardian to serve in this capacity.
Call Attorney Sherman if you are planning to adopt and want estate planning at the same time. She is a Fellow of the Academy of Adoption and Assisted Reproduction Attorneys. This is a premier adoption organization which is committed to upholding the highest ethical values in the legal profession.
Call Christina T. Sherman For Washington Estate Planning
Attorney Christina T. Sherman is an estate planning attorney in Washington. She has helped countless men and women expand their families, and she understands how a solid estate plan can increase the confidence new parents feel. To find out more about how our office can help, please call (253) 268-5068 to schedule an individual consultation with our firm.
Your family is important to us. Contact us today.
We understand that the adoption process may seem overwhelming, and we are dedicated to getting answers to whatever questions you may have.
We serve clients throughout Tacoma, Pierce County, King County, Thurston County, Kitsap County, and the Western Washington area.
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