When planning for the future, it is important to consider various options to safeguard assets and ensure their distribution according to your wishes. One commonly used tool in estate planning is the living trust. Definition of a living trust According to CNBC, 67% of...
Gig Harbor Estate Planning And Probate Law Blog
5 ways a power of attorney can ensure business success
About 644,868 small businesses operate in Washington, according to the U.S. Small Business Administration. When you are a business owner, estate planning can help ensure the continuity of your business. For instance, if you become incapacitated, a power of attorney...
Why is it worth it to add funeral plans to your will?
The thought of planning for death might not be the most pleasant idea you will ever have. However, considering the uncertainties of life, it is important to make preparations for the future. One aspect often overlooked is including funeral plans in your will....
Corporate Transparency Act’s reporting requirements for entities
The Corporate Transparency Act is part of the National Defense Authorization Act. This groundbreaking legislation creates new reporting requirements for companies regarding their beneficial owners. Beneficial owners are individuals who ultimately own or control a...
Family partnerships help with handling inherited rental property
Inheriting rental property can be both a blessing and a challenge. While the prospect of additional income is appealing, the responsibilities associated with property management can be daunting. One effective way to navigate this situation is by forming a family...
Estate planning tips to help you avoid probate
By planning your estate effectively, you can ensure a smooth transfer of your assets to your loved ones after you pass away. One key goal in estate planning is to avoid the probate process, which can be time-consuming and costly. Use beneficiary designations Some...
Reducing your estate tax burden in Washington
Estate taxes in Washington state have the potential to significantly impact the wealth you pass on to your heirs. However, not everyone has to pay them, and whether you do depends on the value of your estate. If you do wind up having to pay estate taxes, there are...
How can you avoid estate planning mistakes?
A solid estate plan ensures proper distribution of your assets after you are gone. While having a plan in place is important, avoiding common mistakes is equally so. To prevent errors, you must have a good understanding of the process. Get started early...
Tips for preventing neighbor disputes on vacation rentals
Have you used one of the short-term rental apps to find a weekend cabin or beach house for your annual vacation? If you have a vacation home or rental property, you may have even considered listing it for short-term rentals. However, you may have also realized that...
Handling boundary disputes with your Washington neighbor
Living in harmony with your neighbors is often a fulfilling experience. However, disputes can sometimes arise, testing this tranquility. One common cause of disagreement is the boundary line that separates your properties. Boundary disputes in Washington can cause...