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Wednesday, 08 May 2013 18:12
As people age, they often become overly attached to their homes and even though there may be compelling reasons to find other living arrangements, these folks will go to extreme lengths to remain in their homes.

Notwithstanding the affection for their dwellings, there is oftentimes undeniable pressure for seniors to move out and into a different living arrangement. Consider the following:The challenge of maintaining a yard and providing upkeep has become too great. There is a need for long...

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Tuesday, 18 December 2012 17:14
Planning for tax-qualified plans, which includes IRAs, 401(k)s and qualified retirement plans, requires a careful examination of the potential taxes that impact these assets. Unlike most other assets that receive a “basis step up” to current fair market value upon the owner’s death, IRAs, 401(k)s and other qualified retirement plans do not step-up to the date-of-death value. Therefore, beneficiaries who receive these assets do so subject to income tax. If your estate is subject to...

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Tuesday, 18 December 2012 14:14
A Stay Bonus is an inducement to your key employees to remain with the company after your death to preserve the enterprise value of the business. It is a contract with your key employees that provides that they will receive a significant bonus in every paycheck for a two or three year period after your death if they stay with the company.

The Stay Bonus is funded with life insurance on your life. This life insurance is owned by an irrevocable life insurance trust that is earmarked to pay the...

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Tuesday, 18 December 2012 11:14
A revocable living trust (RLT) is an estate planning tool that allows you to avoid the probate process while maintaining total control for yourself and your loved ones. Therefore, no newspaper notices or letters to heirs are required, no records become public, there are no court restraints on the distribution of assets, and no statutory waiting periods apply.

It is still necessary to determine what assets exist, to pay creditors, to file required tax returns and to distribute assets to...

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Tuesday, 18 December 2012 08:14
A Revocable Gift Trust is a particular type of revocable trust for educational or other specified purposes, often established for grandchildren or other close family members. This type of trust allows you, as the maker of the trust, to make gifts that are revocable during your lifetime yet protected from the beneficiary's creditors at your death.

With a Revocable Gift Trust, you retain the right to revoke the gift and, as a result, pay the income tax on the income generated by the trust. At...

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