Top 10 Questions: Estate Planning
- Bryana Crossbean
- May 7, 2017
- 2 min read
1) What is estate planning?
Estate planning is the process of preparing for death or incapacity through documents such as wills, durable powers of attorney, and living wills.
2) What are the most important documents to have?
The three main documents everyone should have — regardless of their situation — are:
Will – Transfers property to heirs and pays off debts at death
Durable power of attorney – Appoints someone to make medical and financial decisions for you when you are unable to; not in effect after you pass away
Living will – Allows you to tell doctors what types of treatment you do or do not want if you are in a vegetative state and will never recover; does not apply if there is any chance of recovery (this is solely an end-of-life document)
3) Do I still need estate planning if I don’t have much money?
Yes. Even if you only have “two pennies to rub together,” you still need estate planning. At a minimum, you need a durable power of attorney so someone can make medical and financial decisions on your behalf if you become unable to.
4) Does having a will mean I can avoid probate?
No — but it does make probate much easier.
5) What’s the difference between a durable power of attorney for health care (DPOA HC) and a living will?
A DPOA HC allows you to appoint someone to make health care decisions (including withdrawing life-sustaining treatment) and speak with doctors for you. A living will states your wishes for end-of-life care when there is no chance of recovery.
6) How often should I update my documents?
It’s best to review your documents every 10 years or after a major life event such as birth, death, divorce, or a serious health decline. Changes in the law can also make updates necessary.
7) Do my documents expire?
They do not expire if they were prepared by an attorney in Washington State.
8) I’ve recently moved from another state. Are my documents still valid?
Possibly not. You’ll need to speak to a Washington attorney to ensure they comply with Washington law. Each state has different legal requirements, so a will valid in one state may not be valid in another.
9) What happens if I don’t do any estate planning?
Washington law will determine who makes decisions for you and who inherits from you. If you lose mental capacity without naming a decision-maker, the court may appoint a guardian.
10) Do I need a lawyer to draft my documents?
If you want your documents done correctly, yes. Many online forms do not meet Washington legal requirements. For example, the durable power of attorney statute (RCW 11.125) changed significantly on January 1, 2017 — and most online forms likely do not reflect these updates.
Get the right estate plan for your future
Estate planning is more than just paperwork — it’s about making sure your wishes are carried out and your loved ones are protected. Whether you need to create your first will or update existing documents, our attorneys can ensure your estate plan is complete, current, and legally valid in Washington.
