Most working Americans must file tax returns every year. Those who fail to do so may face serious repercussions. If you have yet to file your tax return and the deadline has passed, you may be wondering how to handle the situation and fulfill your obligations as soon...
Trusted Counsel From A Tax Strategist Who Grew Up In Gig Harbor
Gig Harbor Estate Planning And Probate Law Blog
Problems that can arise from a community property agreement
Many Washington state residents choose to bypass probate by leaving the entire estate to the surviving spouse. Depending on your circumstances, this arrangement, called a community property agreement, may not be appropriate for your estate. These are the common issues...
Consumers should be aware of so-called ‘debt relief’ companies
There are quite a few companies running advertisements these days claiming to provide debt relief. Most of these ‘services’ provide no debt eliminations but instead can charge the consumer hundreds (or thousands) of dollars in fees resulting in higher debt than...
What to do with spendthrift kids
Do you have an heir who just does not know how to handle their money? They always seem to spend everything that they have. They make purchases that you think are unneeded and unwise. You have tried to teach them how to budget and save, but it never seems to click. As...
Be skeptical of debt relief/consolidation scams promising freedom
Most American households are only a few bad weeks away from financial insolvency. Many households don't have adequate emergency funds to cover their mortgage for several months, to say nothing of the other debts and expenses that families incur through daily life....
4 things that go wrong when people make their own estate plan
The internet is full of "do-it-yourself" forms for estate planning and last wills. From cookie-cutter power of attorney documents to questionable last wills, these documents can lead some people into a false sense of security. In addition to potentially not standing...
Parents: Your estate plan can provide for your children
Brining a new baby into the world is a joy for parents, but it also brings up new responsibilities. A primary one is that you have to know that your child will be taken care of if something happens to you. Setting up your estate plan, and keeping your child in mind...
Was your tax return selected for an audit?
When you file a tax return with the IRS, you do so with the idea of providing accurate and complete information. However, no matter how much time you put into your tax return, the IRS still has the ability to choose it for an audit. There is no surefire way to prevent...
Know when to update your estate plan
Your estate plan is what your loved ones will follow to distribute your assets when you pass away, but there are other points that you must include in it. All adults, regardless of age or wealth status, should have a plan in place. Thinking about what you want to...
End-of-life plans can help your loved ones
Wills and trusts are two vital components of an estate plan, but there is more to think about when you're getting everything in order. You need to think about your final days so that you can determine how you will protect your interests. Setting up plans for your...