Leaving assets to your minor grandkids requires careful consideration to ensure their welfare and financial security. Here's a guide on how to safely do so
Debunking Common Myths About Probate in Washington State
Probate is often a misunderstood and daunting process that many individuals find themselves facing during challenging times. In Washington State, probate involves the legal distribution of a deceased person's assets and settling of their estate. Unfortunately, several myths surround probate, causing confusion and unnecessary stress for those involved. In this blog post, we aim to debunk some common myths about probate in Washington State, providing clarity for individuals navigating this complex legal terrain.
Understanding the Benefits of a Credit Shelter Trust
Credit Shelter Trusts, also known as Bypass Trusts or Family Trusts, play a crucial role in estate planning. These trusts offer a strategic approach to maximize the preservation and distribution of wealth, especially in the context of estate taxes. In this blog post, I'll delve into the key aspects of Credit Shelter Trusts, exploring their purpose, mechanics, and the potential benefits they provide for individuals and families.
Probate in Washington State
Probate is a legal process that takes place after someone passes away, involving the distribution of their assets and settling their debts. In Washington State, the probate process follows specific rules and regulations. This blog post aims to provide a guide to understanding probate in Washington, including key steps, general timelines, and important considerations.
What is a social club?
A social club is a type of tax-exempt entity, defined under Internal Revenue Code 501(c)(7). It’s designed for organizations that are run for their members’ recreational and social benefit. As with every tax-exempt organization, there are pros and cons to this structure, and the only way to know if this is the right tax-exempt entity for your organization is to talk with an attorney in your state. The purpose of this article is to provide information about the benefits and limitations of a 501(c)(7) social club.
Defining terms: Omitted Spouse or Domestic Partner
Defining terms: Lapse and Ademption
Protecting Your Adult Children's Inheritance from Their Possible Divorce
How do I protect my daughter’s inheritance from her husband? I know they aren’t happy, and I think they will get divorced soon.
This is a common concern for a lot of my clients — how to protect their adult children from losing their inheritance. The answer is both simple and complicated, because there is the letter of the law, and then there’s what actually happens in reality.
