A Simple Will?
“I’d like to have a complex estate plan,” said nobody, ever. Indeed, overwhelmed by the subject, most people have a goal for their estate plan: they just want something simple,…
Is the juice worth the squeeze? The overlooked downside to trusts
Trusts come in all shapes and sizes and can be effectively used to solve for a variety of planning challenges. You want to ensure a minor child can’t blow his…
Long-Term Care Planning Starts with Financial Planning, Not Trusts
Often, folks want to protect hard earned assets from the costs of healthcare as they age. They fear expensive assisted living and nursing home care costs. Though the fears are…
Remember Lending Basics Before Being Lured by the Promise of Guaranteed Interest
Have you ever been given an opportunity to loan someone money at an attractive interest rate? Driven by the prospect of higher “guaranteed” returns, prospective lenders sometimes look to opportunities…
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”)…
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…
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…
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