When planning your estate in Washington State, one of the most common questions is whether to use a Revocable Living Trust (RLT) or a Will. Most are curious because of the horrors they hear or the experience they’ve had with the probate process. In Washington, both are efficient and effective estate planning tools, but they […]
Artificial intelligence (“AI”) continues to transform society in ways beyond imagination. It is rapidly becoming clear that AI pervades every aspect of society, and criminal activity has been no exception. AI is now reshaping the methods and scale of fraudulent activity. In 2024, Americans lost more than $158 billion dollars to Fraud and Scams according […]
The legal landscape for family investment vehicles in Washington shifted dramatically after the Antio LLC v. Department of Revenue decision of the Washington Supreme Court. In Antio the taxpayers were a group of investment funds organized as limited liability companies. These funds acquired investors through private offerings and invested in debt instruments. The LLCs themselves […]
Since 2018, estate planning legislation in Washington has remained stagnant. Increases in our legislated estate tax exemption rate had been tied to a Consumer Price Index that no longer existed, and the legislature largely ignored the issue. Recently, the Washington State Legislature finally turned an eye to addressing the issue and enacted a bill which […]
Overview of The Spousal Residence Exclusion Washington state recently enacted some changes that may impact married couples and registered domestic partners. Under the new Spousal Personal Residence Exclusion, when a spouse/partner passes away on or after January 1, 2025, the decedent’s share of the family home in some situations will not count when determining whether […]
The job of parenting can be consuming with the drive to protect children in all circumstances, including the unthinkable. However, the topic of estate planning for children still looms large on the mind of most parents. Estate planning clients of young-adult children often express concerns about ensuring their children are cared for in the event […]
Per the U.S. Treasury Department announcement below, FinCEN is now dead except for some limited foreign entity reporting. Despite the many turbulent things happening in the U.S. government right now, this still came out of left field and is a bit surprising. We all know, however, that the political pendulum swings and suspect that, eventually, […]
If you find yourself involved in civil litigation of any kind, the case will take up a significant part of your life. While your attorney will take on the heavy lifting, he or she will require your help to gather the facts and evidence to support or defend your case. This article discusses “interrogatories”—a method […]
When considering whether to enter into a contract to buy or sell property, you may come across various types of deeds by which title may be transferred. In Washington State, there are three common types of deeds that may be used: a statutory warranty deed, a bargain and sale deed, and a quit claim deed. […]
In an effort to provide Americans with various forms of tax relief, in 2017 Congress enacted the Tax Cuts and Jobs Act (“Tax Act”). This act provided tax reductions in many different categories, but one of the most significant was that it nearly doubled the Estate Tax and Lifetime Gifts Exemption (“Exemption”). However, these tax […]
We all make important decisions and engage in regular financial transactions without giving a second thought about our capacity to do so. But what if you suddenly lost the ability? What would happen? While most of us don’t spend a lot of time thinking about it, unexpected things can and do occur. For instance, you […]
Estate planning tends to be a topic that overwhelms most people. It can be further complicated for modern-day global families whose lives include international nuances. For example, when one spouse is not a U.S. citizen, certain legal considerations come into play that can impact your planning strategies. Further, more and more families have international beneficiaries […]
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