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Featured:
Introducing the Washington Gift Trust for Your First Advanced Planning Strategy
Introducing the Washington Gift Trust for Your First Advanced Planning Strategy For Washington residents, estate planning involves unique tax considerations. Unlike federal guidelines, Washington State sets a much lower threshold for estate taxes, which can apply to estates far smaller than the...
Probate Solutions in Washington: The Power of Living Trusts
Probate Solutions in Washington: The Power of Living Trusts Estate planning often feels like a maze of legal jargon and complex processes. But fear not, Washington residents! There’s a way to ensure your assets pass smoothly to your loved ones without the headache of probate: the magic of living...
CTA Imposes New Small Business Reporting Requirements for 2024
CTA Imposes New Small Business Reporting Requirements for 2024 Small business owners will have one more item on their compliance to-do list when the Corporate Transparency Act (CTA) takes effect next year. The CTA,[1] enacted as part of the Anti-Money Laundering Act of 2020 (AMLA), places new...
General Knowledge:
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Estate Planning:
How Revocable Trusts and Pour-Over Wills Work Together: A Practical Estate Planning Approach in Washington State
How Revocable Trusts and Pour-Over Wills Work Together: A Practical Estate Planning Approach in Washington State When creating an estate plan, revocable living trusts (RLTs) and pour-over wills complement each other effectively, ensuring comprehensive coverage for your assets. Understanding how...
Pour-Over Wills: Your Estate Plan’s Essential Safety Net in Washington State
Pour-Over Wills: Your Estate Plan’s Essential Safety Net in Washington State Even the most carefully prepared estate plans can sometimes overlook certain assets. That’s why a pour-over will is an important component of your estate planning strategy. Specifically crafted to complement a Revocable...
Revocable Living Trusts Explained: Your Key to Simplifying Estate Management in Washington State
Revocable Living Trusts Explained: Your Key to Simplifying Estate Management in Washington State Estate planning can seem complicated, but the right tools can greatly simplify the process for your family. One effective and flexible tool available in Washington State is the Revocable Living Trust...
Estate Administration:
Probate Solutions in Washington: The Power of Living Trusts
Probate Solutions in Washington: The Power of Living Trusts Estate planning often feels like a maze of legal jargon and complex processes. But fear not, Washington residents! There’s a way to ensure your assets pass smoothly to your loved ones without the headache of probate: the magic of living...
Your Rights as a Beneficiary: Key Questions Answered
Your Rights as a Beneficiary: Key Questions Answered When Will I Receive My Inheritance? Question: What is the typical timeline for the distribution of inheritance in Washington? Answer: The distribution of inheritance can vary, often taking several months to over a year, depending on the...
Your Estate’s Future: Probate or Trust Administration?
Your Estate's Future: Probate or Trust Administration? Estate planning—what might be one of life's more challenging tasks, serves as a testament to our instinct for order, foresight, and concern for our loved ones' welfare. Delving into this topic invariably leads to two major options: Probate...
Recent Articles From Our Office:
Nominating Guardians for Minor Children
Nominating Guardians for Minor Children Planning for your child's future is one of the most important steps you can take as a parent. While no one likes to think about the possibility of being unable to care for their child, having a legally designated guardian ensures that your child will be...
It’s All in the Family: Understanding Common Legal Terms That Describe Loved Ones
It’s All in the Family: Understanding Common Legal Terms That Describe Loved Ones While watching a movie or reading a book about wealthy individuals and their families, you may have come across terms such as “heir,” “descendant,” and “next of kin.” Though made-for-Hollywood storylines use these...
Proposed Changes to Washington State Estate Tax: What You Need to Know
Proposed Changes to Washington State Estate Tax: What You Need to Know Washington State is considering significant updates to its estate tax structure, with House Bill 2019 (HB 2019) and House Bill 1375 (HB 1375) currently under review. These proposed changes could impact estate planning...
Rethinking Inheritance – Alternative Distribution Strategies
Rethinking Inheritance – Alternative Distribution Strategies For many families, leaving an inheritance is not just about passing on wealth—it’s about ensuring financial security, promoting responsible management, and preserving family values. While it may seem simplest to transfer assets...
Don’t Name a Minor Child as Direct Beneficiary!
Don’t Name a Minor Child as Direct Beneficiary! Naming a minor child as a direct beneficiary of an account or a Will can lead to several complications and challenges that may affect the child's financial future. Here are some key reasons why this practice is generally discouraged: Legal...
Introducing the Washington Gift Trust for Your First Advanced Planning Strategy
Introducing the Washington Gift Trust for Your First Advanced Planning Strategy For Washington residents, estate planning involves unique tax considerations. Unlike federal guidelines, Washington State sets a much lower threshold for estate taxes, which can apply to estates far smaller than the...
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