Seattle, WA business & estate lawyer Robert Casteel talks about the benefits of using a community property agreement in Washington.
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Community property agreement is a unique agreement that’s authorized by Washington State law it allows spouses and it is specifically limited to spouses, to enter into an agreement regarding the status of their property. The primary goal and purpose for using one is to avoid probate. By using a community property agreement, you completely eliminate the need for probate. There are always circumstances where that’s not the appropriate choice but for most couples, most spouses in Washington State it is a very effective and useful tool. I have found that when you use a community property agreement because they’re specifically authorized by state law, I usually do not have to assist my clients in handling the affairs when the first of the spouses passes away.