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…
Front view of businessman receiving award from businesswoman in front of business professionals applauding at business seminar in office building
Business Sale Strategy: Gift of Appreciated Stock to Charity followed by Sale
If you are a business owner that: (1) is looking towards succession planning and the option of selling your interest in a business; (2) has inclinations towards charitable giving; and…
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…
Preparing Your Business for Sale
At some point, the lucky entrepreneur is able to realize the fruits of her success and ride off into the sunset after the momentous occasion of having sold her business.…
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…
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.…
Reconsider Adding Children to Your Bank Account
You’ve likely heard the conventional wisdom many times. Your friends or family or even at times the bank teller will counsel you that you should add your child to your…
Preparing for College – Funding with a 529 College Savings Plan or a Testamentary Trust?
At this time of year when high school students apply to the colleges of their dreams and matriculates return to their studies, it is important to consider your own situation…
