Some adults are in precarious positions. Not only are they caring for their own children, they are also doing the same for their parents. Known as the sandwich generation, they have a lot on their plates. One thing that might fall by the wayside is estate planning....
Trusted Counsel From A Tax Strategist Who Grew Up In Gig Harbor
Gig Harbor Estate Planning And Probate Law Blog
A quick primer on the basics of trusts in estate planning
A trust is a way that people can transfer assets to others without having to go through the probate process. There are many different types, each of which serves a specific purpose. You have to think about what needs to go to whom and determine how they might be...
Review commercial leases carefully before signing
Finding a home for your business can be a real challenge. You might not be ready to buy a property, so you will have to find somewhere to lease. This is a bit different than residential leasing. Think about some different points as you are evaluating the possibilities...
Estate planning concerns: Is your child irresponsible with money?
Imagine you have a $10 million investment account, but your child has never had more than a couple thousand dollars in his or her checking account, and every other week he or she is asking for a handout. You love your child until the end of the earth, but you're...
Single parents: Make a solid estate plan to protect your children
One of the biggest fears of single parents is that something will happen to them and they won't be around to raise their children. As horrific as this situation would be, it is actually a thought that can lead to positive action. Single parents need to be sure that...
Part of handling an estate is paying the decedent’s debts
As a country, America has around $13 trillion in debt. People who are 45 to 54 years old have the highest debt average at $134,600. This brings up a point that many people might not think about very often -- the status of debts when a person dies. This can be a...
Sound estate planning is important to prevent legal confusion
The more money your estate holds, the more complicated things will be for your heirs after you die, especially if you die without an estate plan. This is why it's essential for individuals who have substantial assets to create a rock-solid plan that will be followed...
When families argue: The issue of the contested will
When individuals create a will, they expect that it is going to be followed. In many cases, the estate will go through probate without any issues. There are other instances in which a person who has an interest in the estate will question the will. This might lead to...
A trust-planning checklist for your special needs child
When you have a special needs child, setting up a trust to pay for your child's needs in the event of your death or incapacitation is virtually a necessity. No matter what your financial situation happens to be, a special needs trust can be enormously beneficial for...
Commercial leases require negotiation and attention to detail
A commercial lease is necessary for business owners who don't own a property but need a space to house the business. These leases aren't as simple as residential leases so you must give great attention to the details. There are several points that you need to remember...