As an estate law attorney in Washington state, I often get questions about the estate tax and how it works. The estate tax is a tax on the transfer of property after a person's death, and it is important to understand how it applies in Washington state. Washington state is one of a handful of [...]
A life insurance trust can be a good strategy for avoiding estate taxes because it removes the proceeds of a life insurance policy from the taxable estate of the policyholder. When a person dies, the value of their estate is subject to estate tax, which can be a significant expense. However, by transferring ownership of [...]
A common misconception is that only wealthy families and people in high risk professions need to have an asset protection plan. But in reality, anyone can be sued. A car accident, foreclosure, unpaid medical bills, or an injured tenant can result in a monetary judgment that will decimate your finances. What Exactly Is Asset Protection [...]
Many people have questions when it comes to estate planning. The most important of these happens to be the most straight forward: What is estate planning and is it a must? Individuals who are considering beginning the estate planning process typically have several questions including: What's the reason for preparing a will or trust? Is a living trust necessary? What [...]
