The Washington Estate Planning Blog

Law Offices of David Ravi Sitlani: Helping couples, families, and individuals understand the ins and outs of estate planning in Washington State.

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    Law Offices of David Ravi Sitlani, PLLC

    Seattle Office:
    1001 Fourth Avenue
    Suite 3200
    Seattle, WA 98154

    Redmond Office:
    8201 164th Avenue NE
    Suite 200
    Redmond, WA 98052

    Phone: (206) 267-8777
    Fax: (206) 577-3843

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Archive for May, 2009

“Planning” Your “Legacy”

Posted by sitlanilaw on May 26, 2009

As an Attorney who works in the area of Estate Planning I am always curious as to how Estate, or Legacy Planning, is viewed by others.

Kevin M. Doherty, suggests that, “…If I have learned one thing in life, it is the value of planning and more specifically the toll, financially, physically and spiritually, that lack of planning can take on one’s life.” See link below for full article.

Mr. Doherty makes a great point – planning does not only provide you value in that it gives you piece of mind; as you have established a roadmap of how your affairs are to be handled in the event of your death or disability, but estate planning also helps to ensure that you and your family are spared the stress of not planning – or planning after the fact which is often more stressful…and more expensive!

Another benefit to planning is establishing a “Legacy” which is outlined in an article by Darrell J. Canby (see link below). This “Legacy” can include establishing a business succession plan for your descendants to providing for charities in your estate plan. Regardless of what you want your “Legacy” to be, you must be proactive and make an effort to ensure that your “Legacy” is know.

Of course, the best way to provide yourself with piece of mind, and to ensure that you have a “Legacy” is to plan your estate!

Have a great rest of the Week!

-David

Mr. Doherty’s article can be viewed in full at:
http://www.buffalonews.com/185/story/682159.html

Darrell J. Canby article can be viewed in full at:
http://www.metrowestdailynews.com/business/x12068512/How-do-you-want-to-be-remembered

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Estate Planning Event

Posted by sitlanilaw on May 18, 2009

Hello!  I wanted to let you know that I am going to be hosting, ABC’s of Wills, Trusts and Estate Planning for Financial Professionals and Others on Thursday May 28th at 5:30pm at Thinkspace in Redmond (address below).  At this event I will discuss issues such as the default Washington Estate Plan, the Death Tax and other related issues.  Please RSVP to me at drs@sitlanilaw.com or via Biznik (link below).

Thanks,

David

Event Link:

http://biznik.com/members/david-sitlani/events/abcs-of-wills-trusts-and-estate-planning-for-financial-professionals-and-others-3

Thinkspace:

8201 164th Ave NE
Redmond, Washington 98052

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Estate Planning and the Internet

Posted by sitlanilaw on May 16, 2009

Below I discussed a great story I heard on NPR about resources that are available to help one plan their Estate.  One such resource is legacylocker.com which, according to their website:

“… is a safe, secure repository for your digital property that lets you grant access to online assets for friends and loved ones in the event of death or disability.”

While you are alive, there is very little an attorney can do to ensure that loved ones can get access to your online accounts in the event of death.  Legacy Locker, and other online resources, provide the user with a way to pass online access to financial accounts, e-mail accounts and other online resources to named individuals.

Of course another possible solution would be to carefully organize all online information such as user names and password and keep that information somewhere safe.  I have heard of some clients maintaining a list and placing it in a safe deposit box.

The bottom line is that this is a personal decision and one that should not be taken lightly – each individual should weigh the merits of online resources and other ways of safely storing account information.

I’ll continue to explore Estate Planning and the Internet in future posts.

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Estate Planning and the Internet

Posted by sitlanilaw on May 12, 2009

Hello!

I have decided to expand the scope of this blog to include issues related to the practice of estate planning.  Clearly, even if you have a well drafted estate plan and have determined how your assets are to be distributed there are some matters that those documents do not deal with.

For example…what happens to your gmail, google or hotmail account?  What about your facebook profile?

With that in mind I invite you to lisiten to an interesting report on NPR regarding some of these issues:

http://www.npr.org/templates/story/story.php?storyId=104024294

In the coming days and weeks I plan to post more regarding estate planning and the internet as well as other issues related to estate planning.

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