If you have been thinking about doing some estate planning you have probably come across the trust. If you are here, then you probably aren’t sure exactly what it is. That’s okay. I’m here to help you out. The Easy Explanation as Told by a Kirkland Estate Planning Lawyer I recently watched “The Big Short,” a movie about the financial industry and how some scheming financial brokers almost destroyed the world financial markets via housing bonds. What was cool about…
Yes, this is another one of those informational posts. Today we’re talking about the irrevocable life insurance trust. Here’s the way I see these posts. Have you ever played a sport? Ever played an instrument? Ever really learned a subject really in depth? If you said yes to any of those things, than you’ll get why I’m doing these posts. You Have to Walk Before You can Run Estate planning shouldn’t be something you don’t understand. In fact, it doesn’t…
Have you ever seen the movie Entourage? The gist of the movie is this: the lead actor is an up and coming movie star and he’s got four buddies that are helping him get there, an advisory council. One buddy is his manager. Another is in charge of public relations. Another is in charge of his confidence. And another is there for unshakable moral support. Throughout the movie you can see that it’s his team that helps him keep everything…
Note the “Washington State” in the title. Although this process is likely very similar in other states, each state has its own rules. Make sure you know the rules in your state before you get started. Either via some tragedy or the normal course of life, you are here right now because you are dealing with someone you know going through the probate process. I often find when it comes to the things I don’t know a lot about, that…
Who cares about the two million net worth? If you live in Washington State, you do. Once you get over 2 million dollars in assets everything is taxed at 19%. Think that’s a long way away for you and your family? Guess again. Here’s how easy it is to get to two million in assets. Let’s say you have a house. It’s appreciating like crazy. You bought it for $500,000 and Zillow says you’re at $850,000 now. Cha-Ching: we’re at…
Today we’re going to answer that universal question: pay debt or save? You’ve finally gotten that job that gives you a little extra money left over after taking care of your bills, food, etc., and you are thinking about what to do with it. You’ve got some outstanding credit card bills but you also know the sooner you start saving the more money (exponentially more money) you can make. If you don’t know what to do, the estate planning attorneys…
When you think of think of what life will be like for your family when you are gone, what do you picture? Do you imagine a fulfilling life of success? Do you imagine your family taking the wealth you leave them and combining that with the lessons you’ve taught them to continue a great family legacy? Do you imagine happiness, wealth, and great relationships? Do you imagine your family squandering everything you’ve given them and actually ending up worse off…
