On May 12, 2011, Governor Gregoire signed Substitute House Bill 1051 which enacted sweeping changes to Washington trust law. These changes will have a significant impact on the administration of trusts, the duties of trustees and the rights of trust beneficiaries. The new law will apply to all trusts created before, on, or after January 1, 2012. If you have a revocable trust as your primary estate planning document, the new law does not require you to make any changes. However, individuals may want to revise their estate planning documents in order to address issues that may arise due to the new provisions regarding notice to beneficiaries of the existence of the trust. Read more
Category: Estate Planning
Estate Planning for Your Pet
Everyone knows how important a properly executed estate plan can be. It can protect your assets, avoid a costly out-of-state probate proceeding, minimize estate tax liability and provide health care directives should you become incapacitated. But one area of the estate plan that many pet owners neglect to consider is what happens to your pets when you are no longer around. Read more