What is an estate distribution plan and how does it work?

An estate distribution plan is a legal document that outlines the final wishes of the deceased and how their estate should be divided amongst their heirs. In Washington, estate planning law requires this plan to be in writing and approved by the court. The estate distribution plan will typically list out which assets will be bequeathed to which heirs. These assets and monetary funds can include physical goods like furniture, cars, or other possessions; stocks; bank accounts; real estate; and other investments. Family members, friends, or charities may also be named as beneficiaries in the plan. The estate distribution plan will also include instructions on how the estate will be managed. This includes instructions on how the assets will be sold off or divided up, as well as how the proceeds will be distributed. The estate distribution plan will also include the appointed executor of the estate. It is the job of the executor to oversee the division of the estate and make sure that all the assets are distributed according to the deceased’s wishes. It is important to appoint an executor who can handle the responsibility and be trusted to carry out the wishes of the deceased.

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What is an estate distribution plan and how does it work?

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