What do you need for a simple Estate Plan?

A simple estate plan typically consists of a few essential documents and strategies to ensure the smooth transfer of your assets and the protection of your loved ones after your death or in the event of incapacitation. While it is always recommended to consult with an attorney to create a customized estate plan, here are some common elements found in a simple estate plan:

  1. Last Will and Testament: A will is a legal document that outlines your wishes regarding the distribution of your assets after your death. It allows you to specify how your property should be distributed, name an executor to manage the estate, and designate guardians for minor children if applicable.
  1. Power of Attorney: A power of attorney grants someone the authority to make financial or legal decisions on your behalf if you become unable to do so yourself. It can be limited to specific matters or broad enough to cover all financial and legal matters.
  1. Healthcare Directive or Living Will: This document specifies your medical preferences and end-of-life decisions, such as whether you wish to be kept on life support or receive certain medical treatments. It also designates a healthcare proxy, someone who can make medical decisions for you if you are unable to do so.
  1. Beneficiary Designations: Many assets, such as life insurance policies, retirement accounts, and bank accounts, allow you to designate beneficiaries who will receive those assets upon your death. Ensuring that your beneficiary designations are up to date is an important part of estate planning.
  1. Letter of Intent: Although not a legally binding document, a letter of intent provides additional guidance to your loved ones regarding your wishes for the distribution of personal possessions, funeral arrangements, or other important matters.

All of these documents, including some additional information for your family and loved ones, are included in all of our estate planning binders. You can watch a video with our attorney Darcel Lobo discussing our firm’s estate planning binders below:

YouTube player

It’s worth noting that estate planning needs can vary depending on factors such as the size of your estate, the number of beneficiaries, and your specific circumstances. Therefore, seeking professional advice from an estate planning attorney is highly recommended to ensure that your estate plan is tailored to your specific needs and complies with Washington State law.

It’s important to consult with an attorney who can not only help you legally with your estate planning needs, but also someone you feel comfortable with and can trust. If you need assistance with your estate planning needs and want to see if our attorney Darcel Lobo is a good fit for you, reach out to our office at (206) 408-8158 or visit us online at www.dallawfirm.com, and we would be happy to assist you. 

We’re conveniently located in Normandy Park and offer consultations virtually or in person.

Contact us:

19803 1st Avenue S.
Suite 200
Normandy Park, WA 98148

T (206) 408-8158
F (206) 374-2810

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