Washington Estate Taxes Explained I get asked about this all the time, so I thought it was about time I broke this down for you. The estate tax system in Washington State, at it’s core, is pretty simple. If you die and your estate has more than $2,012,000 in it, then you start paying taxes. Why $2,012,000? It used to be a flat, cool two million, but they decided to start adjusting for inflation. That means if you read this…
#RichLifeLawyer Show 028: Should I Prorate Estate Taxes? A question we get often at the firm is “should I prorate estate taxes?” Because it is such a frequent question (and because it really matters) I thought today would be a great day to answer it. Here are just a couple of topics covered in today’s show: What does it mean to prorate estate taxes? What are my options? What is the best option? What is the worst option? To find…
#RichLifeLawyer Show 027: Designate One Person for All Estate Planning Roles? A common question we get when it comes to naming people to take care of clients’ estate planning needs is whether or not one person can be named to fill all estate planning roles. Traditionally there are several roles that need to be filled to administer an estate: Personal Representative (also known as the executor) Power of Attorney Medical Power of Attorney Guardian Trustee Just to name a few….
#RichLifeLawyer Show 026: Estate Planning and Transfer on Death Designations I run around with a few financial planners and whenever we meet up they tend to pepper me with estate planning questions. Whenever they ask me something I always file it away to talk about here because I know if they are curious about it most other people are too. That’s why when I was asked about transfer on death designations a few weeks ago I knew I had to…
I was having a conversation with a couple of people the other day and we were talking about what our true missions are when it comes to our businesses. When my turn came up I said “Look, at the end of the day everything is perfect if the client is making an informed decision about their estate plan. I don’t really care what they do specifically, as long as they understand all of the benefits and costs of their decisions….
#RichLifeLawyer 27 LIVE! Can I name one person for everything? Cheers, Christopher Small Estate Planning Attorney PS – Click here to schedule a FREE strategy session with an estate planning attorney.
#RichLifeLawyer Show 26 live – fun with transfer on death designations! Cheers, Christopher Small Estate Planning Attorney PS – Click here to schedule a FREE strategy session with an estate planning attorney.
