This is a continuation of our Estate Planning Series posted the 4th Wednesday of the month. Below are portions of an interview with Elder Law Attorney, Richard Tizzano located in Poulsbo, WA.
JASON PARKER: Richard, I was hoping you could start out with helping me understand what exactly is estate planning?
RICHARD TIZZANO: I like to say estate planning is different from financial planning; financial planning folks help you grow your money, and good estate planning can help you distribute your money in a most effective manner to the people and the charities you want to see blessed, and perhaps even give you a strategy for how to do that while you’re alive, as well as after you’ve died.
JASON: What are some of the essential documents everybody should have when developing an estate plan?
RICHARD: Everyone should have a power of attorney for financial matters, a power of attorney for medical matters, a living will, which in Washington is called a directive to physicians, and a will. Then it might be appropriate for some folks to have a living trust, special needs trust, or life insurance trust, or some other more advanced-type estate planning documents.A WORD OF CAUTION! Estate planning and the laws around this subject are unique to the state in which you live. Because most of the people I serve are here in Washington State, I focused on the issues in Washington State. Obviously if you are reading this outside of Washington State, you should consult with an expert estate planning attorney in your area.
The opinions and information voiced in this material are not intended to provide specific advice or recommendations for any individual. Please consult a licensed estate planning attorney BEFORE taking any action.
Luce, Lineberry & Kenney ps
Attorneys at Law
John Kenney, LLM
17791 Fjord Dr NE Suite 154
Poulsbo, WA 98370-8482
Sherrard, McGonagle, Tizzano
Attorneys at Law, Est. 1954
Richard C. Tizzano, PS
19717 Front Street
PO Box 400
Poulsbo, WA 98370