Wills

A Last Will and Testament can do much more than just designate who inherits your property after your death. Parents can nominate a guardian for their minor children. A Will can also create a Trust to hold and manage the inheritance of any beneficiary, such as a minor or incapacitated adult; a testamentary Special Needs Trust can leave a bequest to a disabled beneficiary without jeopardizing his or her eligibility for government benefits, such as Medicaid or SSI. And provisions, such as a Credit Shelter Trust can be included to reduce or eliminate estate taxes.

Couples who marry later in life have special issues to consider. For example, couples with children from prior relationships often want to create a plan that provides for the surviving spouse, then divides their estate among all the children; one or both spouses may want to limit distribution of assets acquired before the marriage to his or her children, particularly if there are significant premarital assets. These issues must be specifically addressed in the Will, and may require additional documents, such as a pre-nuptial or post-nuptial agreement identifying the separate property assets of each spouse, or an agreement prohibiting a surviving spouse from changing the estate plan after the death of the first spouse.

We will gladly review your existing Will free of charge. A review is recommended if your Will was executed in another state; if it is more than five years old; or if there have been any significant changes in your life, such as new children or grandchildren, divorce, remarriage, or a significant change in your health or net worth.

If you have any questions or would like to schedule an appointment, please call us at (425) 455-5513, toll free at (877) 455-5513, or info@palmerlegal.com.