Happy Sunday!Today I want to talk about bank accounts. They seem pretty straightforward, but there can be some HUGE consequences if you don’t understand how they operate. Here’s an example from a conversation I had with a potential client this week… Wife was calling because husband had passed, and at husband’s passing, his half of the bank account was supposed to go into an irrevocable trust. They wanted to make sure there was an inheritance for the kids and allow…
Happy Sunday!Today I wanted to talk about a common issue I see in estate planning, something that holds a lot of people back from taking action, to their detriment… not being able to decide who your people should be. For many people this issue surrounds guardians for minor children, so that’s what I’m going to talk about today. But the message applies no matter the position you are trying to fill – Trustee, Power of Attorney, Medical Power of Attorney,…
Happy Monday! This week’s newsletter is coming to you on a Monday because we’re closed for the holiday (Columbus Day/Indigenous People’s Day) and I can’t stop working. :) And, I thought today would be a good day to get some helpful information out there to all of you responsible people that have already completed your plans and are now in maintenance mode. Note: if you’re not one of those people, it’s okay – that’s why we’re here – to help….
Happy Sunday! Every month all of the attorneys on the team get together for a happy hour. It’s a great time to bond outside of work. And, although we are outside of the office, we invariably talk about estate planning and probate subjects (we’re law nerds in the office and out of the office – you never lose that). This week at our happy hour we somehow got to talking about testamentary trusts, and why I hate them. :) So…
Happy Sunday! As we are coming up on the end of the year (can you believe it?!?) I thought I’d give you a little annual gifting reminder/prompt in case you are considering gifting to reduce your taxable estate. Before we get there, a friendly reminder that Washington state has its own estate tax that starts at $2.2m – if you are married you can make that $4.4m with a specific type of trust (a credit shelter trust), but everything over…
Happy Sunday! This is a question from one of you out there that actually reads this newsletter! :) If you are a regular reader, by the way, thank you. I hope you get great value from the information here… Okay, back to the subject at hand – trusts with “simple” estates. First, I guess I should clarify what I’m thinking about when I say simple. Simple for me means outright distributions in a way that could avoid probate without a…
By: Christopher Small | August 16, 2024 | Trusts, Videos
Thinking about resigning as a trustee but not sure where to start? Here you will find the common reasons why trustees choose to step down and outlines the crucial steps to ensure a smooth transition. From notifying the successor trustee to completing necessary forms, you’ll learn the basics without diving too deep. Perfect for anyone feeling overwhelmed or dealing with difficult beneficiaries.
