Most people either do not have a will or have outdated wills that do not meet their current needs. Some people have the opposite problem. They may have drawn up wills when they first got married, forgot about them, and then made other wills later in life. This issue often creates protracted and expensive probate
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No one likes thinking about death, but unless some decisions are made before that time, emotion could get in the way of what you want to happen. Even worse, the state or a strange doctor could make important decisions instead of your family. Some of the documents we offer have immediate benefits as well. Many
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Trusts are some of the most important, and easiest to use, estate planning documents in Renton. These flexible instruments can take effect while the grantor (person who creates the trust) is still alive, or they can be part of a will. Trusts often offer significant tax advantages as well, and they often shield assets from
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You may have heard about the estate tax on big news networks and the possibility that this tax would be repealed by Congress. However, it is important to understand that there are two estate taxes – a federal estate tax and a state estate tax. This means a repeal of the federal estate tax would
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In estate planning, there is an emphasis on financial assets, home property, and power of attorney. However, there needs to be an emphasis on effectively passing on family heirlooms. In fact, many disputes concerning an estate do not center on financially-valuable items, but rather treasured family possessions. Think of it this way: money can be
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One of the most heavily discussed aspects of tax reform proposals currently being debated in Congress is the repeal of the federal estate tax (also commonly referred to as the “death tax”). The Senate majority recently unveiled the Tax Cuts and Jobs Act. This piece of legislation would not eliminate the estate tax entirely. Instead,
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The House Committee on Ways and Means, along with the Senate Finance Committee, recently released their proposed framework for tax reform and it includes an outright repeal of the federal estate tax and generation-skipping transfer tax. In addition repealing the federal estate tax, the proposed legislation would eliminate personal exemptions and a myriad of itemizable
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