Seattle Family Law Law Blog

If you are going through a divorce, you probably have many questions about how this process is going to change your life. One of your main priorities is where you are going to live and whether you will have to move. In fact, you may prefer to keep your family home.

Wanting to keep your home and being able to afford to keep your home are two very different things. Historically, it was not as affordable for one person to keep the home, but things are different now. Thanks to lower interest rates and lower home prices, you may be able to stay in your house if that is what you prefer to do. However, this is a very important choice, and you would be wise to give it careful consideration before making any choices that could impact your future. 

When estate planning, you need to make a number of important decisions. It can take time to come to the right decisions, and in some cases, you may have a difficult time knowing which is right. From the types of planning tools you use to the people you put in charge of your final affairs, you have a lot to consider as you detail your end-of-life wishes.

You may have already decided that your estate plan could benefit from having a trust or multiple trusts. Now, you may wonder who you should put in charge to act as the trustee after your passing. You already know who you want to act as the executor of your overall estate, and it may cross your mind to use the same person as your trustee.

As your parent ages, you may have more and more concerns about his or her well-being. While you may not have any problem stepping in and making important decisions on his or her behalf if that time comes, you know that you need legal authority to do so. Though you know that your parent has already done some estate planning, you may not know the details of the plan.

As an adult child, you want to ensure that your parent's affairs are in order and that plans are in place to handle difficult situations in the future, such as if your parent becomes incapacitated by illness or injury. Such a time can be stressful, and you want to make sure that you know what to do.

Virtually everyone knows what a will is and how it works, but this understanding has not motivated everyone to actually create one. CNBC reports that only 55% of people over 55 years old have a will. The numbers are likely lower for those who are younger and think a will is not yet necessary.

However, even having a will is not enough. A will can only address some of your end-of-life wishes and protect only some of your assets. You need other estate planning documents to fully safeguard yourself and your family in the event of your incapacitation or death.