Probate Lawyer in Tacoma

The Probate Process Overview

For a decedent with a clear and concise estate plan, the administration of the estate can often be seamlessly directed with few decisions subject to discretion or debate. However, even the most sophisticated among us have left gaps in our estate plan, resulting in more challenges in estate administration. This is completely normal, not uncommon, but exactly why probate is so important.

Contact the McCarthy Law Office, PLLC online or at (844) 224-5029 for your free initial consultation with a skilled Tacoma probate attorney.

Probate & Trust Administration

Probate and trust administration are the legal processes that take place after a person's death. 

Probate includes identifying and inventorying the deceased person's property, paying their debts, and distributing the remaining assets as the will (or state law if there’s no will) directs. Executors of an estate will need legal assistance to navigate this complex process, ensuring they comply correctly and fully with the law. Additionally, heirs or other parties with vested interests may need a lawyer to protect their rights and interests.

In probate, the crucial steps that must be undertaken include: 

• Proving in court that the deceased person’s will is valid
• Identifying and inventorying the deceased person’s property
• Appraising the property
• Paying debts and taxes
• Distributing the remaining property per the will or state law if no will exists

Laws govern each step and must be completed accordingly. The executor has a fiduciary duty, meaning they must act in the best interests of the estate and its beneficiaries. Failure to adequately fulfill this duty can result in legal repercussions, including financial liabilities.

Beyond the mechanics of probate, understanding the emotional and practical implications is vital. Grief can cloud decision-making, making professional guidance invaluable. Our attorneys prioritize clarity and compassion during this challenging time, facilitating the legal process so that families can focus on healing.

The Six Steps of Probate Administration

Our Tacoma probate attorney regularly helps our clients work through both simple and complex estate administration. Below is a summary of the typical steps we’ll take together:

1. We obtain all the relevant information from you regarding the decedent and his or her estate planning documents and assets.
2. We file a petition with the court, and the court appoints the appropriate individual as the Personal Representative or Administrator of the Estate. In some cases, the court supervises this person’s administration activities, and in other cases, this person is entitled to administer the estate without probate court supervision. 
3. We provide notice of the estate administration to heirs, beneficiaries, and creditors. The legal process also requires us to publish a notice in a newspaper.
4. We wait 4 months for any claims against the estate. During that time, we work with you to create an inventory of the assets of the estate and take steps to ensure these assets are preserved and maintained during the probate process.
5. After any claims against the estate are resolved, you distribute all of the assets of the estate under the Will or the laws intestacy (that is, if the Decedent had no Will). These laws simply set forth who gets the Decedent’s assets if he or she passes without a Will. Of note, the entire probate process is the same in instances where no Will exists.
6. We close the Estate. Sometimes, this merely requires the filing of documentation with the Court, and sometimes we need to ask for the Court’s approval to close the estate.

Best of all, you will not have to learn these laws or procedures. That’s our job. We’ll do all the paperwork, prepare all the legal documents, and guide you through the probate process step by step. During this time, we want you to focus on doing the important work of grieving and caring for the people around you who have also lost a loved one.

Understanding these procedures can help alleviate the stress and uncertainty often associated with probate. It's critical to approach each step methodically and with the support of a knowledgeable attorney, especially in situations where estate disputes arise or there are significant assets involved that may trigger more complex proceedings. Connect with an experienced Tacoma probate lawyer as soon as possible for guidance.

Probate Costs in Tacoma

Probate costs can vary widely depending on the complexity of the estate and the specific circumstances surrounding it. In Tacoma, like elsewhere in Washington State, these costs typically include court filing fees, appraisal fees for estate valuations, attorney fees, and potential executor fees. It's essential to understand that while some costs are unavoidable, others can be managed through proactive estate planning. By engaging McCarthy Law Office, PLLC, you can benefit from strategic legal planning aimed at minimizing these expenses, thereby preserving more of your estate for your beneficiaries.

Another considerable factor is the time it may take to conclude the probate process, which can impact overall expenses. The duration of probate in Tacoma usually ranges from several months to over a year, largely depending on the complexity and size of the estate, as well as any disputes that might arise among beneficiaries. Preparing for potential contingencies and having clear, legally binding documents can significantly streamline this process, thus reducing the financial and emotional burden on the family.

For your free initial consultation with our Tacoma probate lawyer, contact us online or call (844) 224-5029.

Non-Probate Assets: What You Need to Know

You may have heard there are some assets of the estate that are not subject to probate and that pass outside of the probate process altogether. These assets are referred to as non-probate assets, and typically include the decedent’s investment accounts, life insurance, and assets held in trust. 

These non-probate assets are often gifted via transfer on death designations and are transferred outside of probate directly to the beneficiaries named per the applicable designation. While these assets pass directly to the named beneficiaries outside of the probate process, they will often be included in calculating the gross estate for estate tax purposes and could be subject to claims against the estate.

It’s important to plan for the inclusion of these assets in your overall estate strategy. Understanding how these assets interact with the probate process can substantially affect the ease of asset transfer post-death. We advise our clients on best practices for managing these assets to ensure a smoother transition for their heirs and beneficiaries.

Estate Tax Considerations in Tacoma

The dreaded estate tax is top-of-mind for most when preparing their estate planning documents, and certainly becomes even more relevant when administering a decedent’s estate. Any property transferred at death is subject to both the Federal Estate Tax and the Washington State Estate Tax. However, these taxes only apply to estates over a certain size of the respective 2019 exemption thresholds, as noted below:

• Federal Estate Tax threshold is $11.4 million
• Washington State's Estate Tax threshold is nearly $2.2 million

While we do not provide tax advice, we will help you determine whether there is a taxable estate and outline the next steps.

Addressing estate tax considerations early in the estate planning process can reduce complications for executors and heirs. For estates approaching these thresholds, we recommend exploring options such as gifting strategies or charitable donations, which can mitigate potential tax burdens and preserve wealth for intended beneficiaries. Understanding these strategies is crucial for effective estate planning and administration.

Community Property Agreements and Probate in Washington

When our grandparents or parents lose their spouses, the probate process can be avoided if the parties have a Community Property Agreement (“CPA”) in place.  Pursuant to Washington State Law, the disposition of the decedent’s interest in community property occurs by operation of law if the parties have a CPA. As a result, typically no probate action is required. Nevertheless, the surviving spouse must still take certain steps to ensure proper transfer of the decedent’s assets, and depending on the language of the CPA, separate action may be required for the disposition of separate property. If this is the situation you find yourself in, we will prepare the necessary documentation and make sure all appropriate steps are taken.

Community Property Agreements can significantly streamline the asset transfer process and alleviate some of the burdens typically associated with probate. However, understanding the specific wording and implications of a CPA and its effects on both community and separate property is crucial. We are available to educate and guide you through ensuring all legal and financial obligations are met efficiently. Connect with a qualified Tacoma probate lawyer right away.

Navigating Probate Disputes in Washington

Disputes can arise during the probate process for various reasons, such as disagreements over the validity of a will, the interpretation of testamentary documents, or the distribution of assets. These disputes can become emotionally charged and legally complex. In Washington, it is crucial to resolve these matters efficiently to avoid prolonged litigation, which can deplete the estate's assets and increase family tensions. At McCarthy Law Office, PLLC, we focus on amicable resolutions while preserving the interests of all parties involved.

One common type of dispute involves contesting the validity of a will. In Washington, a will can be contested on grounds of undue influence, lack of testamentary capacity, or allegations of fraud. To prevent disputes, it’s advised to have thorough documentation and witness testimonies supporting the decedent’s intent. Moreover, when disputes do arise, our skilled legal team at McCarthy Law Office, PLLC is equipped to offer clear advice and effective representation, aiming to settle conflicts most expediently and fairly possible. Discuss your matter with a knowledgeable probate lawyer at our firm.

Rely on the expertise of a skilled probate attorney in Tacoma at McCarthy Law Office, PLLC. Contact us or call (844) 224-5029 now to arrange your consultation without delay.