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…
Empty car parking lot with white mark
Short Term Excess Cash – Where do we park it?
Sometimes our clients come into excess cash. They sell an asset or a business. They receive an inheritance or gift. They receive a large bonus or award. And, though the…
Business Succession Strategy – Gift followed by a Redemption
Let’s assume that the patriarch of a local manufacturing business is ready to determine the best way to transition ownership of the business to his daughter. The patriarch, John, and…
