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Creating a Children’s Trust in your Estate Plan
A children’s subtrust is a type of trust that is specifically designed to hold assets and manage them for the benefit of minor children. It is commonly used as part of a larger estate plan to ensure that assets are protected and properly managed until the children reach a certain age or milestone. Here are…
Read MoreUnderstanding Personal Property in Estate Planning: A Comprehensive Guide
July 6, 2023Written by guest author; Shaheer Hashmi Understanding Personal Property Many people primarily focus on real estate and financial assets when making their estate plans. However, paying attention to the significance of personal property in your estate planning is essential. Personal property holds both sentimental and monetary value, and proper consideration and planning can…
Read MoreAvoiding Probate in Washington State
Written by guest writer: Shaheer Hashmi Probate is a legal process that validates a will, settles debts, and distributes assets to beneficiaries after an individual’s passing. Effective estate planning strategies are available to help individuals avoid the court probate process and ensure a smooth transfer of assets to their loved ones. This article will explore…
Read MoreEstate Planning and Tax Reform
In 2019, the significant increase in the federal estate tax exclusion to $11.4 million left some people thinking estate and tax planning was not so important anymore. However, the higher exclusion is slated to return to only $5 million (inflation indexed) at the end of 2025. Also, for Washington residents, the state estate tax exclusion…
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