|
REVOCABLE LIVING
TRUSTS
Revocable
Living Trusts have become popular estate planning tools to pass
property to heirs after you die and to avoid probate. Like a will,
the trust is revocable so you can modify or eliminate it at any time.
The written trust
agreement appoints a trustee to administer your property during your
lifetime, and transfer it to your beneficiaries on your death. You
can act as your own trustee, however, you should also appoint an
alternative or successor trustee in case you die or become
incapacitated.
The main
advantages of a Revocable Living Trust are avoidance of probate
and guardianship, privacy, and continuity of management of property
after death or incapacity. It is especially useful for someone
with assets in different states, because they can avoid probates in each
state. It is also appropriate for an elderly single person, or a
married couple with substantial separate property.
The main
disadvantages of a Revocable Living Trust are the added cost of
setting it up, the expense of administration, and the inconvenience of
maintaining all assets in trust. Contrary to public opinion, a
revocable living trust will not, by itself, avoid income, estate or gift
taxes. While a Revocable Living Trust avoids probate,
Washington's probate procedure is one of the simplest and least
expensive in the nation. There may be better ways to avoid
probate, such as a Community Property Agreement or joint tenancy
ownership. A revocable living trust can avoid the necessity of a
guardianship, however, for many people, a Durable Power of Attorney is a
simpler and less expensive alternative.
The free
information contained in these pages is not intended
to be legal advice, and does not create an attorney-client relationship. You
should always consult with an attorney before taking any action. Feel free
to contact an attorney at MOGREN, GLESSNER & ROTI, P.S. at 425-255-4542 to
schedule an appointment and discuss these issues with you.
Site Map
MOGREN, GLESSNER & ROTI, Renton, Washington, 98057
Phone: (425) 255-4542
Our law firm is conveniently located in Renton, King County, WA, just off the freeway at the intersection of I-405 and I-167, easily accessible from Seattle and Bellevue Washington. Our
three family law and divorce attorneys represent clients in the greater Seattle area and throughout the State of Washington, including the communities of Renton, Kent, Tukwila, Seattle, Bellevue, Mercer Island, Issaquah, Fairwood,
Cascade, Newcastle, Normandy Park, Auburn, Maple Valley, Black Diamond, Skyway, Federal Way, Des Moines,
Kent Meridian, Lake Youngs, Burien, SeaTac, Factoria, Covington, Medina, Fox
Island, Gig Harbor, North Bend, Snoqualmie, Sammamish, Seahurst, Redondo, Enumclaw and most of south King County. Call 425-255-4542 for a free telephone consultation with an
experienced family law and divorce attorney / lawyer. Our attorneys represent both men and women in divorce
and the drafting of simple wills,
and are members of the Christian Legal Society. Our lawyers offer affordable rates
(reasonably priced) for uncontested divorce.
The free information and help contained in these
pages is not intended to be legal advice, and does not create an
attorney-client relationship. You should always consult with a lawyer before
taking any legal action. Feel free to call us at 425-255-4542 for a free
telephone consultation with a family law lawyer for help regarding your
marriage, divorce (contested or uncontested), custody, complex property division,
child support and maintenance, adoption, will, estate plan or
probate. We offer inexpensive (cheap) discount package deals and for our wills,
simple will and estate
planning documents. We offer a Christian perspective in our practice, yet
are aggressive in protecting your rights. Our attorneys are licensed to practice only in the State of Washington,
and are easily accessible to the greater Seattle area.
Serving both male and female clients in the Seattle, King County, WA area, including the communities of Kent, Renton, Tukwila, Southcenter, Seattle, Auburn, Bellevue, Mercer Island, Federal Way, Maple Valley, Des Moines, SeaTac, Burien, Fairwood,
Cascade, Covington, Newcastle, Normandy Park, Issaquah, Factoria, Black Diamond, Algona, Covington, Fall City, Hobart, Medina, North Bend, Pacific,
Buckley, Highline, Wilkeson, Newport Hills, Clyde Hill, Coal Creek, Fox
Island, Gig Harbor, White Center,
Boulevard Park, Rainier Beach, Rainier Valley, Bryn Mawr, Redondo, Covington, Kent Kangley,
Cougar Mountain, Preston, Ravensdale, Kanaskat, Palmer, Cumberland, Redondo,
Midway, Georgetown, Riverton Heights, McMicken Heights, Eastgate, Kennydale, Medina,
Overlake, Boeing, Microsoft, Paccar, Kenworth, East Renton Highlands, Preston, Kent East Hill, Lake Meridian,
Green River, Star Lake, Lake Sawyer, Duwamish, Seward Park, Columbia City, Georgetown, Holly Park, Sodo, Sammamish, Seahurst, Snoqualmie,
Soos Creek, Emerald Downs, Muckleshoot, Twin Lakes, Skyway,
Bellevue, Enumclaw and most of south King County, WA. This includes zip
codes of 98055, 98056, 98057, 98058, 98059, 98030, 98031, 98032 98042,
98038, 98040, 98045, 98168, and 98188, and area codes of 206, 253, and 425,
. We represent clients
from Boeing, Microsoft, Starbucks, Costco, Weyerhaeuser, Valley Medical
Center, various hospitals and insurance companies, T-Mobile, and many other employers. We serve clients of all
nationalities and ethnicities, including African American, Native American,
Asian, Hispanic, Latino, Caucasian, black, Indian, Korean, Japanese,
Russian, Ethiopian, Italian, Vietnamese, Pacific Islander, Philippine, Irish, English, French, German, and Chinese.
We receive clients of all faiths and religions, including Christian, Islam,
Hindu, Buddhist, Muslim, Judaism, Baha'i, New Age, Scientology, Mormon, LDS Catholic, Protestant,
Presbyterian, Baptist, Methodist, Pentecostal, Charismatic, Foursquare,
Evangelical, Assembly of God, Jehovah Witness, Episcopal, Foursquare,
Lutheran, Bible, Pentecostal, Orthodox, Adventist, Unitarian, atheist, secularist, and agnostic. We also represent clients who are
members of labor unions (Teamsters, AFL-CIO, Teachers Union, NEA), unemployed or stay-at-home parents,
members of service organizations (Kiwanis, Lions, Masons, Rotary, Shriners,
AARP, etc), Democrat and Republican, veterans and military personnel. Please call to talk to an affordable
(inexpensive) Washington state family law attorney / lawyer for help about your divorce (contested or uncontested),
complex property division, simple wills, probate or other legal issue.
Site Map
MOGREN, GLESSNER & ROTI, Renton, Washington, 98057
Phone: (425) 255-4542
|
