Many people procrastinate about estate planning and it is easy to understand why; after all, it’s difficult to face our mortality, and deciding and documenting what we’re leaving behind to ...
KEY ACTIONS TO TAKE A thoughtful estate plan often needs to accomplish multiple goals, including ensuring the orderly distribution of assets, managing potential tax consequences and potentially supporting the charitable ...
There are two basic ways to build ones estate planning foundation. One of these is a living trust. But what exactly is a living trust? A living trust is a legal agreement ...
On July 18, 2024, the IRS issued final required minimum distribution (RMD) regulations under the 2020 SECURE Act. The newly issued regulations: However, the IRS is standing firm and maintaining ...
Statistics show that 90% of inheritances are completely gone by the third generation: People inherit money, then spend it without having a carefully considered plan for doing so. Frequently, that plan ...
The estate tax exemption is set to drop significantly in 2026 and Washington Estate Tax is not going away, but a SLAT (Spousal Lifetime Access Trusts) could help. In today’s ...
Trusts can be a useful tool for estate planning in order to preserve assets for loved ones while minimizing estate taxes. A qualified domestic trust (QDOT) is a specific type of trust ...
Estate planning mistakes can derail your best efforts to protect your family’s finances after your death. Everyone can benefit from an estate plan, a process that entails getting your financial ...
3 Tips on Ways to Save Thousands Washington estate tax rates rank the highest of any state in the nation. The tax rates range from 10 percent to 20 percent ...
Parents can see the positive impact of their giving through tax arbitrage, giving cash (within limits) or directly paying for school or medical expenses. Most of my clients would rather ...
