A partner shared a family map with you. Make yours with the Explorer below.
Three made-up families from the Eastside. Move the switches. Watch where the money goes. See what Washington takes in tax, step by step.
Every family is made up. Every dollar is a planning estimate, for learning only. This is not tax or legal advice. It is not a carrier illustration.
Raises the kids if both parents die. Named in the will. If no one is named, a court picks.
UTMA is the law that sets this up. For a transfer made by gift, will, or trust, the custodian manages until 21, or as late as 25 if the transfer said so up front. Then the child gets all of it, at once.
An ILIT trustee owns life policies held in a trust. A family trustee holds the kids' money. Often past age 21. Trust money goes to health, school, living costs, and support.
Pays bills. Runs accounts. The power ends at death.
Follows your written health care directive. This power also ends at death.
Named in the will. Moves assets through probate. Pays last debts and taxes. Then finishes.
The Check asks about your own household. Five questions, on the home page.