DO I NEED A WILL AND IF SO WHAT WILL IT COST?
Legal fees are usually in the $500 to $1500 range for consultation and drafting of a will. When married or registered partners are seeking reciprocal or identical wills, the second will is usually done at a much discounted rate. If you have minor children and sufficient wealth that you would worry about your children getting their inheritance dropped in their lap when they turn age 18, a will is essential. When a child under age 18 inherits without a will the funds are "locked up" by the court (but placed in an investment that will grow for the benefit of the child) until the child's 18th birthday. Then the child has the right to have all the funds released to the child, which usually is a worrisome event for other family members. A will would prevent this by setting up a trust for the child in the will which typically names an aunt or uncle as the trustee and provides some delay and structure for distributions to the child. Even if you have adult children the trust tool in a will can protect the adult child's inheritance from creditors.
COMMUNITY PROPERTY AGREEMENT - COSTS $500 OR LESS
If you are married or are a partner in a state resisted domestic partnership and want your spouse/partner to receive all your assets at your death then a community Property Agreement pursuant to Washington State statute 26.16.120 will be sufficient and no will is necessary. But see below re tax issues.
AN EXCEPTION TO THE COMMUNITY PROPERTY AGREEMENT:
If you are in a second marriage and want to leave an inheritance to your children from the first marriage, this won't happen with a community property agreement and you will want a will that leave an inheritance to your children outright, or a will with a trust built in that provides for your current spouse during the rest or his/her life, with anything left over at spouse's death ending up with your children. With certain language in the "spousal trust" assets put in the trust will be qualify for the unlimiting "spousal exemption" and not be included in the taxable estate of the first to die spouse and not be included in the taxable estate of the surviving spouse on the second death.
SINGLE OR MARRIED BUT NO REAL ESTATE AND NO LARGE VALUE TITLED ASSETS SUCH AS VEHICLES, PLANES OR BOATS
If this is the case, you can name a death beneficiary or multiple beneficiaries on all your bank accounts, 401K and IRA accounts and on all brokerage accounts and on any annuity or pension benefit. the person(s) names will get the account(s) without a will and without any court probate.
WHAT ABOUT A REVOCABLE LIVING TRUST OR OTHER WAYS TO AVOID PROBATE - SHOULD AVOIDING PROBATE BE A PRIMARY GOAL?
If you own real estate ( examples: second residence or vacation property) in two states, using some form of Trust ownership for real estate outside of Washington makes some sense. The reason behind this is that the courts or deed recording offices in other states don't recognize the authority of personal representatives appointed by Washington courts, so a court proceeding "ancillary probate" needs to be started in the other state to get a personal representative appointed by the court in the jurisdiction where the out of state real estate is located, in order to record a personal representative's deed.
In order to avoid the need for ancillary probate, when the out of state property is purchased, you can set up a trust to own the property (trusts don't die, so no probate on beneficiary's death) with a provision in the trust that specifies what happens to the property when the trustor(s) die.
Another method to deal with non-Washington real estate, is a TOD ( transfer on death deed). This can be created when the property is purchased or anytime before one of the owners dies. It is a deed that in simple terms says: " If I own this property at my death, then ___________ ( an individual) gets it". Whoever is going to get the property at the owner's death has no rights until the owner dies, so the owner can sell, mortgage, lease the property without needing the death beneficiary's consent.
Or the out of state property can be owned with a "survivorship or joint tenancy deed" where there are two or more owners, because with such a deed the property passes without probate to the survivor(s) when there is a death.
What about just gifting assets to family members during my life to reduce the value of my estate and estate taxes when I die? Washington State has no gift taxes, so if your estate is under the Federal estate exemption amount of about thirteen million dollars for 2025, you can gift unlimited dollar amounts or assets and not be concerned about the Federal rule of $19,000 per year ( double that for married couple) per recipient. But keep in mind as to capital gains, the recipient of a gift takes the gift with the same cost basis as the donor or "giver". So if you want to make a gift to reduce the value of your estate, gift unappreciated assets, such as cash, or stocks that are worth about what you paid. If you want to gift appreciated assets you have to do a little math first to see if the transfer makes sense given capital gain and estate tax rates. Capital gains rates are between 15% and 20% and Washington State estate tax rates are between 10% and 20% but the percentage only applies to estate's value above $2.2M. A $3.2M estate owes 10% on the "excess" $1 million and the next "excess $1 million is taxed at 14% and so on up to 20% for estate above $9 million "excess" value. So here is where the math comes in. You bought a house in 1990 for $200,000 and it is now worth $1.2M and your estate has a value of $3.2M. You keep the house for the rest of your life and die. Your estate owes about $100,000 in estate tax. Your will leaves the house to your children. Your children sell the house a year after inheriting for $1.3M. They owe capital gains on the $100,000 post death increase - so $15,000 - $20,000 ( stepped up cost basis to date of death value - because transferred because of a death) and your estate has paid $100,000 in estate tax ( which basically costs your two children $50,000 each in reduced in heritances. Alternately, you give the house to your children during you life ( the house you paid $200,000 for ) and later die with an estate value at $2.2 ( without the house). There is no Washington estate tax. The children sell the house after you die for $1.3M. Their cost basis is not stepped up - basis is $200,000) - so they have a capital gain of $1.1M and owe $165,000 - $220,000 in capital gains tax. Total tax consequences in first scenario is $115,000 - $120,000 and $165,000 -$220,000 in the second scenario. So do your math before you make gifts to save estate tax.
Laws change. The information here is not legal advice.