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…
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”)…
Asset Protection Strategy Overview
Managing and preserving hard-earned wealth is a priority for many individuals. However, the specter of potential creditors looms ominously, ready to lay claim to our assets at any moment. Whether…
Get Your Business Valuation Prior to Sale Negotiations
Often times business owners go down the path of selling their business ill-equipped. Perhaps the owner has built a thriving business and rightfully pats himself on the back for his…
The FTC, Washington State, and Non-Compete Agreements
On April 23rd of this year, the Federal Trade Commission (FTC) issued a final rule banning non-compete agreements throughout the nation. In 2020, Washington state enacted its own prohibitions on…
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…
Your Business Tax Savings Might Be Doing More Harm Than Good
Small business owners sometimes have an enviable opportunity to save on tax. They rightfully look for every loophole to which they are entitled to save money on taxes by deducting…
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…
Is the Nonprofit Advocating or Lobbying? The Answer Can Affect Tax-Exempt Status
During a lunch with an Executive Director of a local charity that currently qualifies as a tax-exempt 501(c)(3), I heard him remark that he is a constant advocate for both…
