Our law firm’s philosophy has always been to help families preserve their wealth and achieve their long-term financial goals. The coordination of the estate plan and financial plan is vital.
We offer complimentary estate and financial plan reviews. During these complimentary reviews we will:
- Discuss your family situation to ensure that the terms of your estate plan still reflect your wishes and family situation
- Review the beneficiary designations of your IRAs and retirement plans to be sure you are taking advantage of the recent law changes
- Review your assets to be sure they are properly titled in your living trust
- Analyze the impact of any new tax law changes to see if your estate planning documents need to be updated
In addition, we will answer any questions you may have regarding recent law changes and your estate planning goals. This will be an ideal opportunity to coordinate your financial planning goals with your estate plan.
Looking for an Asset Protection attorney in Sumner, Tacoma, Puyallup, Bonney Lake, Auburn, Edgewood, Kent, Federal Way, Lakewood, Enumclaw, University Place, St. George, Washington, Hurricane, Santa Clara, Ivins, La Verkin, Toquerville and surrounding WA and UT communities? Terry Law Firm is here to help. Contact us for expert legal representation in Washington: 253-299-6800 and Utah: (435) 922-7100.
Does Terry Law Firm provide financial planning services?
No. Terry Law Firm does not provide financial planning, investment advice, or Medicaid planning services. Our focus is on the legal side of estate planning – wills, trusts, powers of attorney, healthcare directives, asset protection, and trust administration.
How does estate planning relate to financial planning?
Estate planning and financial planning address different but overlapping goals. Financial planning manages how you build and distribute wealth during your lifetime. Estate planning determines how assets are legally transferred, protected, and distributed at death or incapacity. Coordinating both ensures your legal documents and financial accounts align.
Why should beneficiary designations match my estate plan?
Retirement accounts, life insurance policies, and bank accounts with payable-on-death designations pass outside of your will or trust. If those designations do not match your estate plan, assets can go to unintended recipients – including ex-spouses or deceased individuals – regardless of what your will says.
Why should beneficiary designations match my estate plan?
Retirement accounts, life insurance policies, and bank accounts with payable-on-death designations pass outside of your will or trust. If those designations do not match your estate plan, assets can go to unintended recipients – including ex-spouses or deceased individuals – regardless of what your will says.
What legal documents should be part of every estate plan?
A complete estate plan typically includes a will or revocable living trust, a durable power of attorney for finances, a healthcare directive, and a healthcare power of attorney. Depending on your situation, you may also need a special needs trust, irrevocable trust, or business succession documents.
How often should I review my estate plan?
You should review your estate plan after major life events – marriage, divorce, birth of a child, death of a beneficiary or trustee, significant change in assets, or a move to a different state. At a minimum, a review every three to five years is recommended even without major life changes.
Can I use the same estate plan in both Washington and Utah?
Not always. Washington and Utah have different laws governing wills, trusts, powers of attorney, and healthcare directives. A plan drafted only for Washington may not be fully valid or optimal in Utah. Terry Law Firm drafts documents that are valid and effective in the state where you reside.
