While no one likes to think about what will happen to their family or property once they are gone, thinking about these things in advance is precisely how you keep your family and property protected, not just for the immediate future, but for generations to come. When you need help planning your estate, Ellensburg estate planning attorney Theresa Petrey will provide you with experienced legal guidance, so you can get your estate in order and stop worrying.
Law Office of Theresa Petrey: Estate Planning Services
There are multiple components to estate planning, which can be used in conjunction with each other to plan the perfect distribution of your assets. A will, which is the starting point for many estate plans, indicates to the court who you want to get what, and how you want your assets divided. A trust is also based on division of wealth, but it differs from a will in that it is a financial structuring set up prior to your death that will be distributed to your beneficiaries upon your death.
The advantage of a trust is that it is often tax-exempt, which means all of the money distributed to your family actually goes to your family, instead of the IRS, and it is typically exempt from probate, which means beneficiaries get their inheritances sooner than if the assets must go through the court system.
Estate Planning Attorney for Charitable Donations and Tax-Planning
Along with basic wills and trusts, estate planning will help you with tax-planning and determining the benefits of the charitable contributions you would like to make. By including your charitable contributions in your will or trust, you can both ensure that your contributions will be paid out according to your wishes, and lower some of the tax burden upon your estate.
Ellensburg Estate Planning
If you have assets, and you want to provide for your family and donate to your favorite charities upon your death, you need to have a plan for your estate. Theresa has helped many clients in the Ellensburg area plan their estates, so they no longer have to worry about what will happen to their family and assets once they are gone. They can enjoy the time they have left with their families, knowing everything regarding their estate and finances is in the best possible legal order.