Progressions Credit Union does have staff members who are licensed with the State of Washington to provide notary services. Notaries cannot simply notarize a will, but can notarize the signatures of the witnesses who are witnessing the will after verifying their identity. In addition: Notaries cannot notarize documents unless they contain a notarial certificate. Notaries cannot notarize documents that are not signed in their presence. Notaries are not attorneys, so cannot write or create legal   More...

Terms of Use In 2023, you can give up to $17,000 in gifts to individuals in a year. You can make a gift of cash or other property to any individual each calendar year. If you give more than $17,000 in cash or assets like stocks, land, cars, etc. in a year to any one individual, you need to file a gift tax return. This doesn't mean you have to pay a gift tax, only that you have to report the gift to the IRS via Form 709 . Generally, the following gifts are not taxable gifts: Gifts that ar  More...

Terms of Use An executor is the person responsible for settling a deceased person's estate. As executor, your duties include inventorying, appraising and distributing assets; paying taxes; and settling debts owed by the deceased. You are legally obligated to act in the interests of the deceased, following the wishes expressed in his or her will. If all this sounds a bit overwhelming, keep in mind that you can hire professional help-for example, an attorney to help with the probate pro  More...

Terms of Use: Probate is the legal process of paying the deceased's debts, taxes and distributing the estate to the rightful heirs. Determination of when probate is required is determined on a state by state basis. Most states allow a certain amount of property to pass free of probate, or through a simplified probate process. In addition, property that passes outside of your will -- such as assets that are jointly owned or included in a living trust -- is not subject to probate. Probate u  More...

Terms of Use A living will is really not a will at all because it doesn't provide for the disbursement of property. Instead, it is a set of instructions documenting a person’s wishes about medical care for use at the time when you are unable to communicate or make decisions. Everyone has the right to accept or refuse medical care. A living will protects your rights and removes the burden of making decisions from family, friends, and physicians. Living wills define your desire to eith  More...

No. Progressions Credit Union does have designated staff members who are notaries licensed by the State of Washington. They can notarize the signatures of those you bring in with you to serve as witnesses to your will, but credit union staff cannot sign as witnesses on members wills. witness will notary witnesses

Terms of Use Yes, you need a will even if you have a living trust. A will provides back-up for any property that you failed to transfer into your trust before passing on, which can easily happen regarding newly acquired property. To protect against this, a will allows you to name someone as the beneficiary to get property that you haven't left to a particular person or entity. If you don't have a will, any property that isn't transferred by your living trust or jointly owned  More...

Terms of Use On the date of your death, if your estate exceeds the applicable exclusion amount, your estate may have to pay federal estate taxes. The exclusion amount depends on the year of death. If an estate is subject to federal estate tax, the net value of the estate (gross value of the estate minus debts, charitable bequests, and final funeral and medical expenses) over the applicable exclusion amount is taxed. There are several different methods to reduce estate taxes. Below are so  More...

Terms of Use: Not having a will to determine what happens to your property upon your death is foolish. Not having a will to determine what happens to your children upon your death is unconscionable. If you die without a will, state law will determine what happens to your property. As such, your property will be distributed to your spouse and children or to other relatives according to a statutory formula if you don't have a spouse or children. If no relatives can be found to inherit your propert  More...

Terms of Use: Power of Attorney is a legal instrument that is used to delegate legal authority to another. The person who signs (executes) a Power of Attorney is called the Principal. The Power of Attorney gives legal authority to another person (called an Agent or Attorney-in-Fact) to make property, financial and other legal decisions for the Principal. A Principal can give an Agent broad legal authority, or very limited authority. The Power of Attorney is frequently used to help in the eve  More...