The estate-planning process can be stressful and unpleasant. Many people put drafting a will off because they don’t want to think about leaving their loved ones behind. In some cases, people think they don’t need an estate plan or that they are too young to worry about the future. Plus, estate planning is a cryptic process that can leave people with more questions than answers.
But dying without a will can create unwanted complications for your family and friends, and it can mean your wishes aren’t followed.
Here are five reasons why it’s important to have a will if you live in Washington.
1. A will gives you control over what happens to your assets
The main function of a will is to provide clear, legally binding instructions on how your assets should be distributed after your passing. Without a will, Washington state’s intestacy laws determine the fate of your estate, potentially leading to an outcome that differs from your intentions.
A will ensures that you retain control over who receives your property and in what proportions, ensuring that your assets benefit your chosen beneficiaries.
2. A will allows you to appoint an executor and to spare them from having to get a bond or court intervention
When you draft a will, you have the opportunity to designate an executor, an individual that you entrust with the responsibility of managing your estate during the probate process. This person ensures that your wishes are carried out, debts are settled, and assets are distributed in accordance with the terms of your will without the need of a bond (similar to insurance) or court intervention.
If you die without a will, the court typically appoints someone to serve as the administrator of your estate and requires them to obtain a bond and court authorization for the administrator to act. If you don’t have a family member or heir willing to serve in this capacity, the court may appoint a public administrator. A creditor might even come forward and ask to serve as the administrator.
3. A will allows you to plan for your minor children
If you die with children under the age of 18, you can nominate guardians who will care for them after you are gone. If you don’t set up a plan in your will, the court may be forced to decide who should serve as your children’s guardian, which may not align with your preferences.
4. A will can avoid Washington intestacy laws and other claims like a committed intimate relationship
Drafting a will allows you to customize the distribution of your estate, ensuring that it aligns with your values and priorities.
Without a will, Washington’s intestacy laws come into play, dictating how your assets will be distributed among your heirs. In Washington, your spouse or registered domestic partner may inherit your entire estate. If you have children, your spouse or registered domestic partner will inherit half of your community property and half of your separate property. If your children do not survive you, then your parents will inherit half of your separate property, or if you have a spouse or registered domestic partner but no children or parents then your siblings (and their descendant) may inherit half of your separate property. This default approach may not reflect your unique family dynamics, relationships, or charitable intentions. We can help you draft your will and community property or prenuptial agreements. Trusts are another option for persons who are in their second marriages with children from a prior marriage.
If you do not have a registered domestic partner or spouse, but are cohabitating and intimate with someone, then they may have a committed intimate relationship claim to your community-like property and cause litigation to resolve their claims prior to your heirs inheriting anything. The best practice for such a situation is to have a living trust or will and separate property agreement, which we can help draft for you.
5. A will reduces the risk of family disputes
Clearly outlining your intentions and the rationale behind your decisions can provide transparency and reduce the likelihood of disagreements among beneficiaries. This proactive approach can contribute to family harmony during an emotionally challenging time. In the event of a dispute, the default in Washington is litigation, which can be time-consuming and diminish the inheritance of your heirs.
Consult an experienced Washington estate planning attorney for help with your will
Washington state has specific laws governing estate planning, and having a will allows you to tailor your plan to comply with these regulations. Consulting with an experienced estate planning attorney in Washington ensures that your will is valid and legally sound, providing added protection for your estate.
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