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…
Beneficiaries
Think beneficiary designations are just a formality? Think again. In this quick video, Beau Ruff explains how these simple selections can override your will, impact your estate plan, and affect how your assets are distributed. Learn the importance of keeping them up to date—especially for retirement accounts, trusts, and minor children—and how they can provide flexibility or create complications.
How Much Estate Tax Will I Owe (Back-of-the-Napkin Calculation)
Washington state has published its estate tax threshold for 2024. Spoiler alert: it hasn’t changed from 2023. When learning about the estate tax, people generally want to understand how to…
Navigating the Personal Residence Capital Gains Tax Trap for Seniors
As a senior citizen ages in her residence, she begins to understand a problem that has been brewing for years or decades. The house that she bought many moons ago…
Out-of-State Property Requires Special Attention in Estate Plan
Commonly called “Probate,” the laws that dictate the handling of a person's assets after their death usually depend on the state in which they reside. However, when it comes…
Protect Your Wishes with The Health Care Directive and Power of Attorney Combo
Are you confused about the Health Care Directive? Is it the same as a Power of Attorney for Health Care? And what about a Living Will, DNR, or POLST? These…
Remove Beneficiary Designations on Non-Retirement Accounts
Naming a beneficiary on your investment account might seem like a smart way to avoid probate—but it could actually disrupt your estate plan. In this video, Beau Ruff explains why removing transfer-on-death (TOD) designations from non-retirement accounts can improve estate liquidity, simplify asset distribution, and ensure your will works as intended. Learn how centralized control and thoughtful planning can better serve your heirs and your legacy.
Reconsider Adding Children to Your Bank Account
Adding your child to your bank account might seem like a simple way to ensure they can help manage your finances—but it could create more problems than it solves. From unintended disinheritance and gift tax issues to exposing your assets to your child’s creditors, joint accounts come with hidden risks. In this video, Beau Ruff explains why a power of attorney is often a safer, smarter alternative for granting access without giving up ownership.
The Community Property Agreement
If you're married and living in Washington state, your estate plan might be missing a powerful yet simple tool: the Community Property Agreement. Despite Washington being a community property state, assets don’t automatically transfer to a surviving spouse upon death. This one-page document can streamline your estate plan, ensuring your wishes are honored and your spouse is protected. Learn how it works, when it’s right for you, and why it might be the most cost-effective estate planning move you can make.
Umbrella Insurance for Asset Protection
In the world of asset protection, one well-known concept to mitigate risk is to transfer the obligation for payment of a valid claim to another person. This risk mitigation is…
