When to Consider a Lifetime Trust for Children
Despite some misleading assertions to the contrary, trusts are not the solution for every estate plan. Trusts come with baggage and the person setting up the trust (herein the “parents”)…
Don’t Forget to Use QCDs for Your RMDs
The end of the year marks the time when many people are doing two things simultaneously. First, they are deciding how much (or how much more) they can afford to…
Don’t Give 10% To Your Church In Your Will
Many people desire to tithe both during life and after death. Accordingly, giving 10% of their estate to their church (or other charity) is often a goal for a couple…
Asset Protection Strategy Overview
Managing and preserving hard-earned wealth is a priority for many individuals. However, the specter of potential creditors looms ominously, ready to lay claim to our assets at any moment. Whether…
Get Your Business Valuation Prior to Sale Negotiations
Often times business owners go down the path of selling their business ill-equipped. Perhaps the owner has built a thriving business and rightfully pats himself on the back for his…
A Refresher on the Gift Tax
A parent can structure a gift of $1M to a child today such that neither the child nor the parent will pay any tax. A common misconception is that a…
The FTC, Washington State, and Non-Compete Agreements
On April 23rd of this year, the Federal Trade Commission (FTC) issued a final rule banning non-compete agreements throughout the nation. In 2020, Washington state enacted its own prohibitions on…
Is an Installment Sale Preferable to All Cash At Closing?
Let’s assume you are ready to sell your business and you are reviewing two competing offers, both compelling in their own way. The first offer is for an all-cash payment…
Use Retirement Accounts to Give to Charity in Your Estate Plan
Whether you know it or not, your “estate” is comprised of different assets with different attributes. Some of your assets will be governed by your will, while others will be…
Consider Declining to Act as Power of Attorney
A power of attorney authorizes a person (an “agent”) to act on behalf of the “principal” when the principal is no longer able to make his or her own decisions…
