Stephen M. Waltar, PS 

Attorney at Law   

Estate Planning Law

 

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NEW: Estate Planning Times (replaces Pocket Watch Newsletters)

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Client Reminders & Estate Planning Documents Info
Articles:

CLIENT APPRECIATION EVENT

Winter - December 6, 2008

                                      

      Directions to Northwest Arts Center: From I-405, take NE 8th Street exit west.  Turn right on Bellevue Way.  Turn left on NE 24th Street. Center is up the hill on the left.

Location and time are NOT finalized, but mark you calendar for the date: December 6, 2008

We're having an wine & cheese Social! 

Text Box: Client Appreciation Event & Seminar
“The inheritance we leave to our heirs…
a blessing or a curse?”  
 Saturday, December 6th  Possibly 1:00 pm – 3:00 pm
Possibly: Northwest Arts Center 
9825 NE 24th Street Bellevue, WA 98004
 
Seating is Limited! Reserve Your Seats Today
Call Our Office at (425) 455-6788 Now to RSVP 
 

 

 

 

 

 

 

 

You’ll Leave this Event Knowing…

   ·        How traditional estate planning has failed to protect most American families

·        How to preserve your estate for your children if your surviving spouse gets remarried

·        Why most family wealth never makes it beyond the third generation and how to ensure that your children and grandchildren never face this problem

·        How to protect against a living probate if you become disabled and are unable to manage your affairs… and why most estate plans fail to deal with this

·        Why “bare bones” documents almost never work and how to know if you have one, and how to avoid a “one size fits all” estate plan

·        If you refinanced your home in the past several years, your biggest asset may be at the greatest risk

·        How to protect your children’s inheritance in case of their own divorce…up to 50% may walk out the door with the ex in-law

·        The downside to Joint Tenancy and how to avoid this using a proper estate plan

·        Funeral plans:  an easy way to help your family to pay for your funeral & memorial

 

At the event, we will be offering sign-ups for a FREE, no obligation Legacy Wealth Planning Consultation (worth $300), whether you currently have an estate plan or not, to discuss the issues that are most important to you, and to help you preserve your legacy for future generations. We encourage you to take advantage of this free event and follow-up consultation.    

 Don’t Wait to Call! Time is of the Essence!

Call (425) 455-6788 Now To Reserve Your Seat!

 Call our office, at (425) 455-6788 to reserve your seats.  Invite your family members and friends so they too can learn more about safeguarding their legacy for future generations.

We look forward to seeing you!

 

CLIENT CARE SERVICES PROGRAM

At our Client Appreciation Event on Saturday, December 8, 2007, we had lots of good food, drink, and fellowship. In addition, many received door prizes and everyone got some toothpaste--sorry if you didn't attend--it is part of our new seminar (ask us about what this symbolizes).  But was also introduced our Client Care Services Program.  Here is a sample of the services provided.  The costs will vary depending on whether it is for trust clients, will clients, couples, or singles.  At a minimum, the services below are provided.  Call is to discuss.

Services to be provided:

 • Free revisions of the appointed personal representative, agent and/or guardian in your estate plan, requested without a consultation with an attorney in our firm;

• Free revisions of your estate plan when doing “simple” changing of designated charitable beneficiaries, requested without a consultation with an attorney in our firm;

• Free Durable Power of Attorney for Property, Health Care Power of Attorney, Directive to Physicians, and HIPAA Authorization Forms for all immediate family members ages 18 to 30.

• 15% discount on the firm’s regular legal fees for any changes to your estate planning documents not covered under this agreement, including the preparation of deeds for transfers of real property to your revocable living trust, not including recording or other transfer fees assessed at the time of transfer;

• 10% discount on the firm’s regular legal fees for any probate or trust administration work done after the death of either spouse;

• Free participation in DocuBank;

• Free exclusive client seminars with special guest speakers;

• Free 30 minute annual review of estate planning documents; Free phone calls

• Free quarterly “Your Estate Matters” Newsletters

• Free monthly “Estate Planning Times” eNewsletters (we will invite you but you’ll need to subscribe)

• Free Insurance Audits, as requested, needed and beneficial

• Free Review of IRA Custodial Documents (so long as you provide them to us) regarding beneficiaries

 Services Not Included: Any estate planning, trust administration, probate, irrevocable trusts, advanced estate planning, incorporations or business entities or modifications, Medicaid or family care planning services other than those listed above.  Any actual costs (other than DocuBank) are also specifically excluded. 

Fees:  Costs range from $195-495/year.  Discounts are available before January 31, 2008.  Please call us to discuss if this program fits your values and needs!

 Common Documents of Living Trust Based Estate Plan:

  • Revocable Living Trust

  • Estate Planning Letter

  • Affidavit of Trust and Certificate of Trust

  • Pour-Over Will(s)

  • Durable Property Powers of Attorney

  • Durable Healthcare Powers of Attorney

  • Directive to Physicians "Living Will"

  • Health Insurance Portability and Accountability Act (HIPAA)

  • Physician Orders for Life-Sustaining Treatment Forms

  • Property Agreement(s)

  • Asset Transfer Documents

  • Warranty Deed(s) & Real Estate Tax Affidavit(s)

  • Asset Transfer Letters

  • CD Audio Summary

  • Death and Disability Instructions

  • Locations Lists & Entire Organizing Portfolio

  • Summaries of Trust & Estate Planning Diagram

 Common Documents of Will Based Estate Plan:

  • Single Will

  • Disclaimer tax planning wills (couple)

  • Will w/Tax Planning Testamentary trust(s) (couple)

  • Durable Power of Attorney (Health)

  • Durable Power of Attorney (Financial)

  • Instruction on Memorial/Burial

  • Specific Gifts List

  • Community Property Agreement (couple)

  • Health Insurance Portability and Accountability Act (HIPAA)

  • Organizing Notebook

  • Physician Orders for Life-Sustaining Treatment program (POLST)

  • Directives to Physicians

 

CLIENT REMINDERS

  • IMPORTANT TAX NOTE: The Governor signed a state estate tax law effective May 17, 2005. Since January 1, 2006 the filing threshold is $2,000,000.  If you are married and your combined net estate is worth more than $2,000,000, it is VERY important to review the tax language in your Wills and/or Trusts to make certain you minimize taxation.  Schedule an appointment to review your documents.
  • Our monthly newsletter entitled, "Pocket Watch", switched in March 2007 to an online newsletter.  To be added to our email list of subscribers, click FREE Subscription or go to the Estate Planning Times picture on the home page or newsletter page and then complete subscription.    
  • If you had your file transferred to Stephen M. Waltar, PS from another law firm, please check with us to make sure we have a copy of your complete file. Sometimes a law firm when asked to transfer a file doesn’t provide a full copy.
  • Completing Asset Transfers is critical to fully utilize the benefits of a Living Trust! To let us complete your funding, give us a call.
  • Make sure your beneficiary designations comply with your overall estate plan:
    • Married clients with responsible adult children should typically designate their insurance and retirements funds:
      1. Spouse
      2. Adult Children
    • Married clients with minor children should typically designate their insurance and retirements funds:
    1. Spouse
    2. Trust (i.e. Living Trust or Testamentary Trust in Will)  Special Note:  If you wouldn't want an acceleration of taxation on these accounts, special language can be added inside your trust to limit the beneficiaries to those that are no older than a specific age!
    3. NEW: For clients wanting divorce protection for their adult children, unique provisions can be added to your trust to make it a "Qualified Trust" that still allows an IRA "stretch."  Call us for a review and consultation.
  • For clients who own a business, it is a good idea to consider "writing a will for your business"—i.e. creating a Business Succession Plan. There are a number of kinds:
    • Stock Redemption Plans
    • Cross Purchase Agreements
    • Hybrid Plans ("wait-and-see")
    • Key Employee Insurance
    • Buy/Sell Agreements

Q: When should you review and revise your estate plan?

A1: If your have not redone your Health Care Powers of Attorney since August of 2004, you should get them redrafted and signed to make certain they comply with HIPAA (the Health Care Insurance Portability and Accountability Act).  Without this added language, your spouse, loved ones, and even your designated agent may NOT have access to your medical records. 

A2: If your estate is above $2,000,000 you should have a review of the "tax language" in your Will or Trust because of recent tax law changes.

A3: Whenever your goals or plans change. For example, if you change your mind about who should be the guardian of your children or who should be your Personal Representative or Successor Trustee. In other words, when circumstances change, your estate plan should reflect those changes. A good "rule of thumb" is to review your estate plan once every five years.

Q: Who should be the owner or beneficiary of your life insurance?

A: Why not come in for a complimentary review of your life insurance?  There are many purposes for life insurance (replace wealth of a wage earner, pay off debt, create an estate, provide for children, grandchildren, or charities, to create wealth (tax free accumulation and easy loan back provisions), to provide liquidity for your beneficiaries, and even to pay estate taxes).  With so many purposes for insurance, it would be unwise to give general answers on a website about who should own your policies, what kind of policies to have, and who to list as beneficiaries.  We encourage you to set up a free consultation to discuss your life insurance goals to make certain your estate plan is in sync with your current goals.