Utilizing Estate Planning Tools: Wills And Trusts

While every client has unique estate planning needs, the two basic tools used in the majority of estate plans, are wills and trusts. You likely have heard of these and have questions as to whether you should have these in your estate plan. You may even already have a will or a trust and need them reviewed or revised.

At the law office of Sam B. Gunn Law Firm PLLC, located in Vancouver, Washington, our comprehensive estate planning services include helping you select the right tools for your family's needs. Our attorneys understand that each individual and family situation is unique and we strive to prepare an estate plan to fit your specific situation. Whether you are looking at protecting assets, to provide for loved ones in the future, or meet the needs of a disabled child, we are here to help you determine the best way to achieve those goals.

Our estate planning lawyers, Sam Gunn and Brian MacKenzie, have extensive knowledge and many years of experience with helping individuals and families with their estate planning needs. This includes creating, drafting and revising wills, living wills (Health Care Directives in WA) or trusts.

Why You Need A Will

Having a will is essential to almost every individual. A will allows you to control who inherits your assets. It is important that you do not wait to prepare a will or have your will revised if your situation has changed due to a major life event like the birth of a child, the death of a spouse, diagnosis of an illness, or moving to a new area. Furthermore, if you do not have a will you will have died "intestate." What intestate essentially means is if you die without a will the state, in effect, writes a will for you. You do not want the state's laws to dictate how your estate is divided or allocated. Take control by having your own will drafted.

The Benefits Of A Trust

Trusts can also be created to shelter assets, protect loved ones, help avoid probate, care for disabled family members, provide for beneficiaries and more. The most common type of trust, a revocable living trust, is set up during your lifetime and all of your assets are transferred into the trust. Typically, the person who created the trust is the initial trustee of the trust and upon that person's death a successor trustee named in the trust will take over. The successor trustee will manage the trust and distribute trust assets to the beneficiaries of the trust. We can help you set up all kinds of trusts such as revocable trusts, charitable trusts, special needs trusts and more.

Contact Us About Your Wills And Trusts Needs Today

We invite you to please reach out to us with all of your estate planning questions and concerns. Schedule your first appointment with either Brian MacKenzie or Sam Gunn. Contact Sam B. Gunn Law Firm PLLC by sending us an email or calling us at 360-836-4023.