A revocable trust can help in a blended family situation because it allows you to specify how your assets will be distributed after you pass away, and gives you the flexibility to make changes to your plan as your family situation evolves. For example, let's say you are in a second marriage and you have [...]
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 [...]
Probate is the legal process by which a deceased person’s debts are paid and their assets are distributed. In Washington state, the probate process is governed by Revised Code of Washington, Title 11. Here are some things to know about probate in Washington: Small estates may not need to go through probate. If the total [...]
