Inheriting property is exciting, especially if you have the opportunity to make some extra income. However, it can get complicated when you are a co-beneficiary. Not everyone who has an interest in real estate has the same ideas about leasing it out. These are reasons...
Trusted Counsel From A Tax Strategist Who Grew Up In Gig Harbor
Gig Harbor Estate Planning And Probate Law Blog
Common pitfalls of handling a property dispute yourself
Property disputes can arise for a number of reasons, from a fence crossing over established boundaries to your neighbor's septic tank contaminating your land. While it only seems cordial to exchange words with your neighbor before escalating the matter, you should...
The unexpected costs of inheriting real estate
Inheriting a family property brings more than just the memories of time spent in the home. This transaction brings along the expenses associated with the property, and in some cases, these amounts can surpass your ability to retain the property. Although it is a...
Avoiding probate for the vacation home using a living trust
Planning your estate involves considering what will happen to your assets after your death. The most commonly known aspect of estate planning is preparing a will. However, you have other options that could make it easier for your family once you are gone. What is a...
Tips for managing an inherited vacation home with your siblings
While inheriting a vacation home sounds like a dream come true, for many siblings it becomes one long nightmare. Sometimes siblings disagree on how to maintain a property, or even if they should keep it at all. Other times disagreements over scheduling or sentimental...
Advice on handling disputes with neighbors
In a perfect world, everyone would naturally get along. The reality is that interpersonal conflicts can surface between neighbors. Many issues become a source of friction. Common disagreements revolve around noise violations, property lines, unkempt lawns and pets. Be...
What are easements and encroachments?
A property survey is vital for determining plot boundaries and identifying easements or encroachments on your land. While they both entail other people using your property, the difference lies with authorization. Easements An easement is the right for someone else to...
Questions to ask neighbors before purchasing a house
Buying a new home is exciting, but there are many things to take into consideration before making the down payment and committing to such a large purchase. In addition to factors such as schools, property taxes, and nearby traffic, it is necessary to consider the...
3 tax advantages of creating a charitable remainder trust
If your portfolio includes highly appreciated assets like stocks, bonds or an investment property, you may want to consider creating a charitable remainder trust. This type of trust allows you to make a substantial tax-exempt donation to a charity or charities while...
What is the difference between an LLC and a sole proprietorship?
When you are self-employed, you can choose to be a sole proprietor or create an LLC. Which option works best depends on your business needs. A Limited Liability Company (LLC) and sole proprietorship differ in their tax requirements, financial liability, and...