This blog is written by Michael D. Whipple, managing partner at the Whipple Law Group. While its content is not intended as legal advice and should never be considered a replacement for actual, legal counsel, the information presented here is intended to provide helpful insight into the terms and procedures related to estate planning.
Please feel free to contact Mr. Whipple or any of the Whipple Law Group dedicated attorneys, at 509-869-3223, for further help or information.
At The Whipple Law Group, we talk to people every day about the importance of drafting a Will. But people often ask why they need a Will or believe they don’t have a need for one at all. However, here are five basic reasons why you should prepare a Will: To Choose Beneficiaries The laws…
“Do I need a Will?” That is a question our firm often hears from clients. Many people do not believe they need a Will. However, these persons are often mistaken. Sadly, it is only after they pass that the reason a Will is so important becomes apparent. Why Do I Need a Will? There are…
If you have ever visited an animal shelter, then you have witnessed this sad sight: beloved pets whose elderly (or sometimes not so elderly) owners have passed away. With no one to care for them and, perhaps, no one with the resources to do so, the unfortunate fact is that these animals often end up…
When someone hears the term “estate planning,” drafting a Will naturally comes to mind. While estate planning includes several tools including Power of Attorney documents, Trusts, and Healthcare Directives, a person’s Last Will and Testament remains a fundamental element of successful estate planning. What are Wills? The Will often serves as the foundation of effective…
When working in the field of tax-related issues, it is easy to become confused by certain terms. One of these terms is “tax basis.” Have no fear, it is actually a useful term that is not too challenging to grasp once explained. What does tax basis mean? The term “tax basis” describes the value of…
State and federal governments impose taxes on estates where the total value of the estate is over a pre-determined amount. One important aspect of estate planning includes whether pre-death gifts should be made, to loved ones and charities, in order to lower the eventual tax liability of the estate. This is an important matter to…
Many people become overwhelmed when confronted with the facts and issues involved in estate planning. This blog series is intended to provide a simple introduction to some of the related concepts and topics involved in estate planning. Goals: Our goals in offering these materials are simple: To demystify these topics by providing simple definitions and…
Estate planning is an extremely important part of life. It is about making loving decisions, now, that will help your loved ones know what you want to happen later. For instance: If you are unable to make decisions about finances and medical issues, who will make them for you? Who will care for your minor…