Rob Iddins, managing partner of Iddins Law Group in Kent. Call 253-854-1244 or visit iddinslaw.com to request a complimentary phone consultation. Charles Cotugno Photo.

Rob Iddins, managing partner of Iddins Law Group in Kent. Call 253-854-1244 or visit iddinslaw.com to request a complimentary phone consultation. Charles Cotugno Photo.

Wills and trusts: Choosing the tool that’s best for you

Kent law group offers complimentary consultations to help build your TRUST

Wills and trusts are both used to distribute your estate after you die, but they’re not the same.

“If a will is a map with directions from A to B, a trust is a car with a built-in GPS,” says Rob Iddins, managing law partner of Iddins Law Group. “The majority of our clients only need a simple will, providing information on who the court should appoint as their personal representative, how debts will be paid, and how to distribute their remaining estate. But there are also many complex situations where a trust is beneficial.”

  • Minor beneficiaries: If you are leaving part of your estate to children under the age of majority, a trust can help manage the distribution of assets. This can ensure they don’t have to wait to receive money, and also that it’s released gradually instead of in a lump sum.
  • Special needs and Spendthrift trusts: If one of your beneficiaries is incapacitated, on some form of public assistance, or just has unreliable financial habits, a trust can help manage future expenses after you’re gone.
  • Snowbirds: If you own property in Washington and Arizona, your property will have to go through probate in both states, which takes a lot of time and effort. Setting up a trust can ensure your property avoids probate. “If you think of property rights as a bundle of sticks, one stick is the use (the benefit of the property), one stick is the control over how the property is managed, and one stick is the legal title. A trust is a bucket that you put the ‘legal title’ stick into, which protects it from probate,” says Iddins Law Group attorney Christian Pearson.
  • Estate planning: “After clients have been through a probate for a parent or aunt and seen how difficult the probate process can be, they often want to make their own estate plan better. Trusts mean you can do some of the legwork now, so there’s less hassle after you’re gone,” Christian says. Depending on your financial situation, trusts can also be very beneficial for mitigating estate taxes.

READ MORE: Taking the anxiety out of probate and estate administration

“I’m constantly learning more about trusts, keeping up to date with all the tools available to our clients. They’re incredibly flexible,” Christian says.

The options extend far beyond what can be described in a short article, which is why Iddins Law Group offers complimentary 15 minute phone consultations. After learning more about your needs, their attorneys can recommend the will or trust that works for you.

Visit iddinslaw.com/services/estate-planning to see their flat fee schedule. In all but the most complex cases, the cost of your will or trust will be exactly this price with no hidden fees.

Iddins Law Group (formerly named Gagley Law Group) is known in Kent as a trustworthy firm with friendly, knowledgable staff. Call 253-854-1244 or visit iddinslaw.com/contact-us to request a complimentary phone consultation. Learn more at iddinslaw.com or on Facebook and Twitter.




Talk to us

Please share your story tips by emailing editor@kentreporter.com.

To share your opinion for publication, submit a letter through our website https://www.kentreporter.com/submit-letter/. Include your name, address and daytime phone number. (We’ll only publish your name and hometown.) Please keep letters to 300 words or less.

The news and editorial staff of Sound Publishing, Inc. had no role in the preparation of this post. The views and opinions expressed in this sponsored post are those of the advertiser and do not reflect those of Sound Publishing, Inc.

Sound Publishing, Inc. does not accept liability for any loss or damages caused by the use of any products, nor do we endorse any products posted in our Marketplace.

More in Local Marketplace

m
Commercial Press Operator Job- Goss U70 [Night or Day shift!]

Sound Publishing is searching for Coldset Web Press Operator professionals in Washington… Continue reading

Dani Rice was paralyzed in a routine medical procedure: “Now thanks to WA Cares, we have more options. We both put in a little from our paychecks now, and WA Cares will pay for a home care aide, when we need one.”
You Never Know What Will Happen. WA Cares Gives Peace of Mind.

Chances are you or someone you love has experienced what it’s like… Continue reading

Small business owners in Kent are encouraged to apply for the Small Business Flex Fund by the end of February! Learn more about the program or apply for your loan at SmallBusinessFlexFund.org.
Free business guidance and low-interest loans for a stronger Kent: Apply before Feb. 28!

Get help applying for the Small Business Flex Fund to help your business grow

WA Cares covers people with pre-existing conditions. WA Cares photo
m
Kent Small Businesses Awarded $10K Grants Through Comcast RISE

360 Motors , From the Ground Up Floral , Nations Realty ,… Continue reading

Iddins Law Group attorney Christian Pearson. Call 253-854-1244 or visit iddinslaw.com to request a complimentary phone consultation. Charles Cotugno Photo.
What’s next? Understanding wrongful death and probate

This Kent law firm can help your family resolve a wrongful death case with compassion and efficiency

Patricia Kibbe, President/CEO of Evergreen Business Capital Community Finance. EBCCF is part of a network of nonprofit, community-based lenders providing the Small Business Flex Fund in Washington State.
Flexible loan helps Washington’s smallest businesses bounce back

Apply before February 2023! Grow your business with support from your community

As the Greater Federal Way Chamber works to create living wage jobs, grow its bottom line and support affordable lifestyles, it’s important to look at the whole picture, then measure what opportunities are within reach, notes Chamber CEO Rebecca Martin.
Economic Development is in the Data

Economic development is one of those terms that lends itself to vagueness—what… Continue reading

Jeff Thungc, of JLT Web Solutions.
m
Make the shift from retail [Full benefits]

Are you tired of working in Retail, but aren’t sure about how… Continue reading

At Wide Shoes Only their friendly, expert staff can help you find the perfect shoes for the comfort and health of your feet.
How to choose shoes to keep your feet healthy and happy!

These shoe-fitting experts in Edmonds and Renton really know their stuff

Wide Shoes Only store owner Dominic Ahn offers more than 600 styles of shoes for people with wide feet. His parents started the first store 42 years ago. The stores are in Edmonds and Renton. (Kevin Clark / The Herald)
Local shoe store owner knows his business – like riding a bike!

You’ll find Wide Shoes Only at these Renton and Edmonds shoe shops