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…
Property Sale Strategy: Selling Property with the Real Estate Contract
If a person proposes to sell real property (land, house, buildings, etc.), the best option is to receive a full cash offer. In this case, whether some or all of…
Savor the Simplicity of the Community Property Agreement
As one year comes to an end and another begins, it’s worth taking stock of your estate plan and ponder whether Washington State’s Community Property Agreement is right for you.…
Disclaimer Trusts
Why in the world would I write about such an esoteric issue as the “Disclaimer Trust?” Simply put, it is one of the best and most frequently used trusts by…
Simplifying Life and Administration after Life
Above all else, two issues impact the complexity and time and cost of the administration of a person’s estate more than the rest: the assets and the heirs. One of…
Do I Need A Trust?
One of the most commonly fielded questions by estate planning attorneys is “Do I need a Trust?” What kind of trust? There are many, many, many different kinds of trusts.…
Cohabitants Can Acquire Property Rights as if They Were Married
Popular culture instills in us Washingtonians the concept of “common law marriage.” The concept goes something like this: if a man and a woman live together for more than seven…
