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EXPERTISE
ESTATE PLANNING
The Law Offices of Gaylen B. Payne is an estate planning attorney office in Federal Way who prepares wills, trusts, durable powers of attorney, community property agreement and directive to physicians. It is imperitve to have these documents in place before something happens to you. Give us a call or send us a message for a free consultation!
STANDARD AND TRUST WILLS
All of us want to take care of our loved-ones in a variety of ways. One important way is by the legacy that we want to leave, which is determined by your will or trust. Both types of wills will answer the questions of "How will my assets be distributed" or "Who will carry out my wishes?" A "standard" will establishes that your assetts be distributed to people, charities, or organizations without any restrictions. A trust will is generally used for parents with children who want their assetts distributed to them either at a certain age or other requirements. Also, for those who have minor children, your will appoints a guardian and/trustee to help take care of your children.
DURABLE POWERS OF ATTORNEY
While planning your estate is important, it is also just as important to plan for incapacity. With a durable power of attorney, it gives people the authority to act in your behalf if you are unable to make decisions. It is vital to have someone you trust to take care of your financial affairs since they would need to be able to access your bank accounts to pay your bills if you are unable to. It's important to have this prepared before something happens to you or you are not able to legally execute on this document.
COMMUNITY PROPERTY AGREEMENT
Washington state is a community property state. However, it is helpful to have a community property agreement drawn up and recorded with the county you reside in. This is a protection for the surviving spouse to easily transfer their community property to their name when they've lost their spouse to avoid a probate action in that situation. The surviving spouse has enough on their mind, having this drawn up and recorded is one less thing for them to stress about.
DIRECTIVE TO PHYSICIANS
A Directive to Physicians is simiar to a power of attorney, but it is focused on medical treatment. We all have our different choices and beliefs when it comes to medical treatment, so if you are unable to speak for yourself, a directive is key. Just like a durable power of attorney, you need to choose someone you can trust and who knows what your wishes are. It's important to have this in place before a disaster or a medical emergency occurs.
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