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On this episode, we get down to the nuts and bolts of what happens to your stuff and kids after you die. Yes, we are getting into that thing that's on every parent's to-do list but somehow keeps on slipping down to the bottom: Estate Planning. :)
We brought on Jenny Ling, who is founder and head of The Law Offices of Jenny Ling which has won a number of awards for their work in estate planning in the Pacific Northwest. We asked her all the questions you may be thinking but were afraid to ask: Is a will enough? Are trusts only for the uber wealthy? How will someone actually find all my accounts after I die? How do I convince my parents to do their estate planning? ... And we hear of some horror cases that she's seen to help motivate you to finally take action on this :)
Important notes:
- Since this episode was recorded, the Washington State Estate Tax laws have changed. The new law went into effect this month. Instead of the estate tax exemption being 2.193 million, it is now 3 million with a tax rate of 10-35%
- As always, when we bring legal, medical or other experts on the show, everything we say on the episode is entirely informational and should not be construed as advice for your specific situation. Always seek out a qualified professional for your specific context and goals.
