A life estate refers to an interest in real property that is held by an individual only during his or her lifetime.  Upon their death, the life estate interest terminates, and the ownership of the real property reverts to the “remainderman” as specified by the instrument that initially created the life estate, or by operation
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Once the trustee of a trust has distributed the assets to the individuals named in the document, it is time for the trust to end. The termination of a living trust is not something that most people give much thought to, and for good reason: the termination process is fairly anticlimactic and does not even
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Many people like to do things themselves. From fixing the leak under the kitchen sink to remodeling their entire upstairs, more and more people feel confident in their DIY capabilities. As a result, less individuals hire professional help even when they probably need to. But when it comes to drafting a will, trust or power
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The term “irrevocable” typically means that something is unable to be revoked. When an individual creates an irrevocable trust, they do so with the intent that once it is created, it cannot be terminated. But does that mean it cannot be modified? Not necessarily. Some irrevocable trusts allow for their modification upon the settlor’s death
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Once upon a time, it was unheard of for a family member to decline a piece of property bequeathed to them by a deceased loved one, but today, it is becoming more and more common for individuals to do just that. With the housing marketing on perpetually shaky ground, and property taxes at an all
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The area of elder law is a complex and often unrecognized one, yet it is an area of law that is extremely important to the future health care and financial stability of Washington’s aging residents. Elder law covers topics such as long-term care assistance, Medicare and Medicaid, medical and mental health issues, estate planning, wills,
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One of the smartest documents that an individual can create to protect themselves and their assets in the event of sudden incapacity is a durable power of attorney. A durable power of attorney is a document that grants a specified individual the power to make medical decisions on your behalf should you ever be in
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The average monthly cost of a room in a nursing home in Washington is $8,078—nearly eight times more than the average monthly mortgage payment of $1,193. The average yearly total for a private room in a Washington nursing home is $95,995—$12,000 more than the national average. For many individuals, this yearly cost is the same
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