Your Estate Plan Doesn’t Know You’re Getting Divorced
Filing for divorce doesn’t change your estate plan. Your soon-to-be-ex may still hold medical, financial, and inheritance rights until you update it.
Considering “Moving Out” of Washington to avoid Estate Tax?
In my line of work, I frequently hear from people who want to keep a home in Washington but not be a Washington resident because they’re concerned about the Washington state tax environment. Washington has no state income tax, but it does have an excise tax on capital gains, and one of the most expansive estate tax programs in the nation.
The Hidden Estate Tax Trap for Massachusetts Couples
Every person can pass on a certain amount of their estate tax-free when they die. That’s the estate tax exemption. Anything under it? Not taxed. Anything over it? Potentially taxed. Straightforward so far.
California Probate is the Hefty Cost Often Overlooked
In California, all assets that do not have a built-in transfer mechanism defined at death (real estate, personal property without prearranged transfer, financial accounts without a beneficiary, business interests, etc.) are subject to probate. In California, probate is not just a formality. It is a court-supervised process that is expensive, time-consuming, and completely avoidable with the right planning.
The Hidden Estate Tax Trap for Washington Couples
Most couples in Washington (and similar states) lose a major tax benefit without ever realizing it. Here’s how a properly drafted joint revocable Trust protects both spouses’ exemptions, and keeps more of your wealth in the family instead of the state’s coffers.
Unlocking More Value in Life Insurance:
Life insurance has long played a central role in estate planning, even for individuals who have not yet executed a will or established a trust. It provides immediate liquidity to beneficiaries, helping cover everyday financial obligations such as mortgages, car payments, health care, education, even groceries, in the event of an untimely death. It can also fund business succession arrangements and support families through complex financial transitions.
Don’t Start Your Estate Plan Yet
Five decisions to make before you sit down to create your legacy documents
Accidental Inheritance: When Forgotten Paperwork Overrides Your Estate Plan
Most people assume their will or trust determines who inherits their assets. In reality, many accounts follow a different set of instructions entirely: the name listed on the account. When those designations are outdated or forgotten, the result can be accidental inheritance.
The Costly Life Insurance Mistake Many Estate Plans Miss
Life insurance is often viewed as a simple, tax-free way to pass wealth to the next generation. Because policies usually pay directly to beneficiaries, many people assume the proceeds automatically stay outside their estate. But that assumption can be misleading. In reality, whether life insurance avoids probate and estate taxes depends on how the policy is owned and structured, not just who receives the money.
Estate Planning Should be a Part of Divorce Planning
Divorce is one of life’s most challenging transitions, emotionally and financially. In the midst of legal and personal changes, it’s easy to overlook your estate plan. But without updates, outdated documents may still give a soon-to-be former spouse authority or financial benefits that no longer reflect your wishes. Reviewing your estate plan during and after divorce helps protect your interests and ensure your decisions align with your new circumstances.