Shikuma Law Offices, PLLC in Seattle Washington is dedicated to providing personalized estate planning counsel and asset protection planning at a reasonable price. We can also assist you with medicaid planning, probate, trust administration, VA pension benefits planning, charity planning, pet trusts and much more. See our services and practice areas for more deatils.
Over 67% of U.S residents treat their pets like family members, but only 12% include their pets in their estate planning. Consequently, 500,000 pets per year are tragically euthanized when their owners become incapacitated or die.
Is a Will the Best Way to Provide for My Pets?
- A Will takes effect only upon your death and does not provide for your pets in the event of your incapacity. This is when the owner most needs the pets’ companionship.
- Upon your death, a Will has to be probated. It takes a long time to complete probate procedure and, if disputes arise, it can take years before the final settlement of your property is made. Therefore, it may take way too long before your pets’ care can be carried out.
Continue reading about Pet Trusts
I saw an advertisement which said, “Let’s protect your loved ones with a Simple Will.” Does a Simple Will really protect the assets distributed to the beneficiaries? The answer is, NO. Any property devised to your beneficiaries via Simple Will has no asset protection feature and the beneficiary may lose all the assets devised by a will maker in a divorce, lawsuits, or bankruptcy. Also, Community Property Agreement has no asset protection mechanism provided to the surviving spouse, either. The surviving spouse may lose all the assets distributed to her/him by Community Property Agreement in one lawsuit involving a motor vehicle accident or some other form of litigation.
Continue reading Does Your Estate Plan Really Protect Your Loved Ones?
As life expectancy extends, there is an increased chance that we will become disabled (incapacitated) before we die, and we simply do not know how long this disability will last. By “disability”, I am referring that our mental or physical health becomes so deteriorated that we cannot sign any legal documents, contractual papers or checks. Therefore, “Disability Planning” is a vital component of our estate planning, as well as “Death Planning.”
A Will-based estate plan focuses on Death Planning but not for disability because a will takes effect only upon a will maker’s death and it does not provide guidance in the event of a will maker’s disability.
Continue reading Will vs. Revocable Living Trust
Unfair trade practices? Banks do it all the time
(by Jan Warner and Jan Collins / United Feature Syndicate)
Question: My father kept my mother in the dark financially, so, when he suffered a stroke several years ago and was admitted to a nursing home, my mother was not prepared to take responsibility. To further complicate matters, Dad had not signed a power of attorney.
Continue reading Does Your Power of Attorney Really Work?
We believe that each client should receive individualized service and establish an estate plan which is tailored to his/her own wishes and goals. We truly believe in counsel-based estate planning, not form book-based estate planning.
See our will and trust samples
What will Happen to Your Pets When You Become Incapacitated or Die?—Pet Trusts
Does your estate plan really protect your loved ones?
Will vs. Revocable Living Trust
Does your power of attorney really work?
Will and Trust Samples (pdf)
