Informational Pamphlets
REAL ESTATE
Buying or selling real estate may be the largest single investment — and
one of the greatest satisfactions — of your lifetime. Along with a substantial
financial commitment, such transactions usually involve risks, technicalities
and legal considerations. To learn more about buying or selling real estate,
please click on the following link:
LANDLORD-TENANT
Washington has a Residential Landlord-Tenant
Act which defines the minimum duties of landlords and tenants of residential
dwellings. These laws also impose certain restrictions and provide remedies
if one party fails to carry out a duty. The remedies include eviction, reduced
rent, self-help repairs, the right to sue for money damages, and an award of
attorneys' fees to the successful party. Generally, the provisions of the act
may not be waived by the landlord or tenant. To learn more about Washington's Landlord-Tenant Act, please click o the following link:
ESTATE PLANNING
Estate planningis a process involving
the counsel of professional advisors who are familiar with your goals and concerns,
your assets and how they are owned, and your family structure. It can involve
the services of a variety of professionals, including your lawyer, accountant,
financial planner, life insurance advisor, banker and investment broker. Estate
planning covers the transfer of property at death, as well as a variety of
other personal matters and may or may not involve tax planning. The core documents
most often associated with this process are your Will and,
quite often, a Trust.
WILLS
A Will is a legal document that determines what happens
to your property after your death. A Will states who receives property and
in what amounts. Property distributed under the terms of the Will become the "probate" estate.
In addition to distributing or transferring property, a Will may have other
functions. It may be used to name a guardian for any minor children or to create
a trust and designate a trustee to handle an estate (property left after death)
on behalf of children or others. A Will may also be used to name a personal
representative or "executor" to handle a decedent's (the person who
died) property and affairs from the time of death until an estate is settled.
To learn more about Wills please click on the following link: http://www.wsba.org/media/publications/pamphlets/wills.htm
TRUSTS
Estate planning involves many considerations and various tools to
make sure your heirs (beneficiaries) receive your property according to your
wishes. One of the more common tools used to help achieve these goals is the
use of Trusts. To learn more about trusts, please click on the following links:
PROBATE
Probate is a legal process for transferring a person's property
after they die. This court-supervised procedure is used to validate a Will
and determine ownership of a deceased person's estate. When a property
owner dies, assets which do not pass directly to others through a community
property agreement, right of survivorship, under some form of trust, or as
insurance proceeds, are subject to formal probate proceedings. Certain “small
estates,” may qualify for a simplified method of transferring property.
To learn more about probate, please click on one or both of the following links:
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