Best Estate Planning Attorneys in Woodinville, WA

An estate plan is essential to ensure your assets are handled exactly how you want should you pass away or become incapacitated. Each individual's estate plan will contain different documents depending on their needs. However, all estate plans will contain three key documents: a will, a medical power of attorney, and a financial power of attorney.

A last will and testament (also known as a will) is a document that outlines how an individual would like their property distributed once they pass away. It outlines who the beneficiaries are (those that will receive assets).

Many believe that the best time to create a will is not until you are much older. However, the best time to create one is actually after having your first child (or as you expect your first child). A will doesn't only outline what to do with an individual's property. If the individual has a child or is a guardian over a minor, a will allows said individual to designate who that minor's guardian will be in the event they pass away. It's important to have this in place so that you can rest assured knowing your children will be cared for by those you love and trust.

A legal trust has many different functions. It can hold property, preserve assets, avoid probate of real property, and can give contingent gifts. It can do essentially anything a person can with assets and property. Baxter Legal can help you properly set up a trust.

A trust document and a last will and testament are similar in some ways, but these documents have very different functions. The purpose of a will is to gather all individual assets and property and dispose of it all. A trust, rather than gather and dispose of assets, holds assets, property, possessions, etc. You can think of it almost like a box you put things into.