After 45 years of practice, I am closing my office effective July 31, 2022. I will continue to work from my home on some residual matters; and will be available to do some estate planning and administration, as well as assisting existing clients on smaller matters. However, I want to spend more time with my wife, our children and our grandchildren.

You can reach me by e-mail at [email protected]; and by phone at 206.686.4466.

I remain grateful for the opportunity to assist my clients over the years. It has been wonderful getting to know you and your families.

– Mark

Why parents need to immediately create an estate plan

On Behalf of | Jul 15, 2022 | Estate Planning |

As a new parent, you need to plan for specific outcomes. You might not want to think about it, but one of the most important things you must prepare for is your death. If you pass away without creating an estate plan that caters to your children, you risk causing a lot of pain in addition to the trauma of your death.

Even if you do not have a lot of wealth, you still need to create an estate plan for your children. If you need to update or create a plan for your estate, keep reading to learn why it is even more critical for parents.

Your children need a guardian

If you do not create a will and name a guardian, your child might end up with a relative that is not suited for the task. Plus, you put your family in an awkward situation by making them fight over who takes care of the child. You need to think carefully about the right person to raise your kids after you pass away.

Your children might lose their inheritance

Washington has intestate succession laws that follow a particular pattern if you do not create an estate plan. However, you might want to change the order of inheritance. For example, if you pass away, your spouse automatically receives one-half of your separate property. Some people want their spouse to receive all the property for their children to inherit later, but you must provide for that in your will.

Parents living without an estate plan risk their children’s future. Start working on one today. Otherwise, you might put your family in a difficult situation.