I agree with the previous answer that there are other estate planning documents that you may need to consider such as a Community Property Agreement (if you are married), or a Health Care Directive, or Durable General Power of Attorney for financial and/or health decisions.
Since you live in Washington, and want to leave your entire estate to your only child, you may not need to sign a Will because under Washington law your child is your only heir at law. So whether you have a Will that...
I agree with the other answers which have pointed out that the form of the deed is not material, and that you can gift up to $14,000 per year to any person without having to file a gift tax return. In your case, you can gift $14,000 for each of you and your spouse to each of your daughter and son-in-law - - - making a total of $56,000 (4 times $14,000) that can be gifted from you and your spouse to both of them in 2014. If the value of the property is greater than that, you can make the gift...
Without knowing more, it is not possible to answer the question
definitively. However, in general, if your mother named your sisters
as the beneficiaries on her IRA, the proceeds of the IRA will be
distributed to them without regard to the provisions of her
Will. Assets like IRAs and life insurance, which usually have
designated beneficiaries, are not included in the "probate" assets
that are covered by the Will.
Whether your mother made her decision about the beneficiary...
The previously posted answers have been posted by lawyers who are not
licensed to practice law in the State of Washington. In the one
case, there is no understanding of the principles of community
property law here in WA. In the other, the recommendation of a
revocable living trust is based upon the NV probate process which may
be more complex than here in WA
You need to contact a WA estate planning attorney to determine what
is appropriate in your circumstances. But here are...
I agree with the previous answers that have been posted. I am writing separately just to be sure that you and your husband understand that in WA you can sign a Community Property Agreement in which case you will be able to avoid probate following your husband's death. There are many circumstances in which it is not appropriate to sign a Community Property Agreement. But if the total value of your assets does not exceed $2.0 million, and your husband wants to leave his entire estate to you,...
First, I'm very sorry to hear of your husband's death. And I'm also
very sorry that he hadn't prepared estate planning documents so that
you would be able to handle this situation with more ease.
You should be made aware that since your husband died without a Will,
you are entitled to receive all of his assets that were community
property. Any assets that were held as his separate property will be
divided equally between you (as to 50%) and any children that he may
have had (as...
You have allowed a very serious problem to be created. By
transferring ownership of the home to yourself and your husband, you
have created much uncertainty, and possibility of conflict, as to
what will happen to his one-half interest in the home upon his death.
You and your husband need to be clear with one another as to what you
want to do with regard to the home. If he wants to deed his interest
back to you, he can do so. Then you can clarify whether you want to
In Washington, a person is presumed to be competent to make decisions until a judge determines that they are incompetent to make some or all decisions. Normally, such a determination would be made in the context of a guardianship proceeding which has already been described. However, guardianship proceedings are quite expensive, and can be very detrimental to the family if the proceeding is contested either by the alleged incapacitated person or another member of the family. For this reason,...
If not more than nine months has elapsed since the decedent's death, and if you haven't cashed the check, you should be able to disclaim this inheritance by filing a written disclaimer with the court and delivering a copy to the Personal Representative. However, filing a disclaimer will have the effect of causing the distribution to be made to whoever would have received the inheritance if you had died before the decedent. Usually that means that your children would receive the distribution....
I agree with the other two previous answers. I write separately only to elaborate that there may be estate planning documents or strategies that would be very helpful here in WA that were not available in NV. If you are married and all of your assets are held as community property (or quasi-community property), then you might want to consider signing a Community Property Agreement which would enable the surviving spouse to avoid the necessity of probate upon the death of the first spouse.