In an ideal world, the executor for your parents' estate will do a fair and capable job, helping to divide the assets and carry out the instructions left for them in the will. That is the task they were given when they agreed to become the executor.
When someone creates a trust, they also pick a trustee. This person is in charge of carrying out the actions indicated by the trust, but they are not the person who benefits from it.
One potential point of contention with asset distribution is deciding which assets to sell. The will may not provide guidance but doing so may be necessary.
Do you worry that someone used undue influence to exploit your elderly loved one and got them to change their will? Undue influence is often just a type of manipulation. The person convinces the elderly person that they want to change their will and pressures them into doing so.
People will often do things that seem fully out of character in the name of money. Greed is a strong motivator. You may be surprised by what you find.
Do you think you're going to get an inheritance from your parents when they pass away? If so, you are in the majority. Studies have found that about 68% of young people think that they will get one -- often containing money and physical assets, like a house -- at some point in their lives.
People who want to start an estate dispute often just think about the legal and financial side of the case. Can they afford it? Do they have grounds to challenge the will? Do they have reason to believe it's unfair or inaccurate? How can they prove that they are correct if other heirs counter their claims?
One of the sad realities of life is that as people age, their bodies undoubtedly deteriorate. A deterioration in their mental capacity may also accompany that of their physical functions. If this is happening to one that you love, you may be concerned about their ability to take care of both themselves and their personal matters. Many with such concerns come to us here at Riach Gese Jacobs PLLC wondering if there is anything they can do to help ensure that such an aging and ailing individual is taken care of. One way to do so is to seek guardianship.
When people pass away without an estate plan in Seattle, their family has a two-edged sword to manage. First, they are dealing with the grief and deep emotions of losing someone they loved. Second, they are working through mounds of loose ends to finalize the affairs of their deceased family member. The effort of people to prepare for death by establishing an estate plan long before they anticipate needing one can make a tremendous difference in the pressure and tension their surviving family members may feel later on.
Everyone in Washington State knows that mortality is real and someday they will die. Despite this fact, a great many people still have not taken the steps to create an estate plan. For some, this might be out of a fear of facing their humanity as people are often raised to fear death. For others, the avoidance of making an estate plan can be due to a lack of knowledge about where to start. This is understandable as there are many options when it comes to making a good estate plan.