Options to Protect Special Property
Think of a unique piece of property. Maybe it’s a plot of land you own that is situated perfectly to be added to the Badger Mountain trail system. Maybe it’s…
Oil and Mineral Rights
Property rights are often considered a “bundle of sticks” where a person can own varying interests in land. The person can own the entire bundle – called “fee simple.” Or,…
BALI
Adverse Possession
Your property can be taken from you even though you have ostensibly done nothing wrong. You have paid your bills and you are current on your taxes and you have…
The Challenges of Timeshare Ownership
We have all been there. We take a glamorous vacation to Florida or Hawaii or Arizona or Mexico, and we are presented with the deal of a lifetime: a timeshare.…
The Community Property Agreement
Property owned by a spouse does not automatically transfer to the surviving spouse at death. Instead, something more is needed in the estate plan to accomplish this feat. In all…
Land Acquisition and Hazardous Materials Pitfalls
When a person endeavors to purchase a piece of real property (i.e. land and any associated buildings), the purchaser would be wise to study up on the potential liability he…
Keep the Family Farm – The Washington Farm Deduction
Should a person gift the farm before death to avoid the complexity of probate and the estate tax? Probably not. The family farm occupies a unique position in Washington state…
Protect Against the “Attractive Nuisance”
If you’ve ever driven past an abandoned house with rusted play equipment in plain sight and thought that it looked like a dangerous trap for unwary children, then you intuitively…
Place Real Property in LLC for Protection
Generally, in Washington state, income producing real property should be placed into a Washington limited liability company (“LLC”). What is real property? Real property is any property that is of…
Step-Up in Tax Basis at Death
At death, there is a little-known tax benefit that the federal government provides. It is an adjustment to tax basis and it can have a profound effect on the taxation…
