What to do When Your Child Turns 18
A child’s 18th birthday is momentous. He/she can register to vote, serve on a jury, marry without parental consent, and hold assets in his/her name. At 18, your child may also apply for a credit card and decide to spend spring break in Florida with college buddies. What if something happens to him/her? As a […]
Marital Agreements: Prenuptial and Postnuptial
From the Estate Planning and Probate Group The legal implications of marriage are seldom appreciated or fully understood. Many newlyweds have questions and concerns about a variety of practical issues, but feel uncomfortable raising the concerns. This can increase anxiety levels, which in turn leads to challenges in the marriage. The sad reality is that […]
Qualified Personal Residence Trusts
From the Estate Planning and Probate Group What is a Qualified Personal Residence Trust? A Qualified Personal Residence Trust (“QPRT”) is Trust which allows you to transfer your home to your named beneficiaries (usually your children) at a future date, at a substantially reduced gift tax rate. Individuals with a valuable home or second home […]
Charitable Giving
From the Estate Planning and Probate Group Outright Gifts What is the difference between unrestricted and restricted gifts to charity? An unrestricted gift is one that a donor makes to a charitable organization that the organization may use or apply to any purpose. By designating or “restricting” the use of a gift, an organization may […]
What Should Dentists Consider When Negotiating and Reviewing a Lease
Except for possibly employee salaries, a dental practice’s rent expense will most likely be a dentist’s largest business expense in any given year. It is, therefore, important that a dentist considering starting his or her own practice be thoughtful about what his or her practice’s specific needs are or will be before a lease is […]
Major Changes Coming to the law of “Common Interest Communities”
Beginning July 1, 2018, the law governing condominiums, co-ops, and planned communities of 12 or more units will change significantly. On that date, the Washington Uniform, and Interest Ownership Act (“WUCOIA”) will go into effect. WUCOIA was passed at the 11th hour of the 2018 legislative session, and as of this date, it has not […]
The New Washington Uniform Common Interest Ownership Act
What is it, what does it do, and how does it affect you? What is WUCIOA? Earlier this year, the state legislature passed the Washington Uniform Common Interest Ownership Act (“WUCIOA” or “Act”). WUCIOA becomes effective July 1, 2018, and is Washington State’s first comprehensive set of regulations that apply across the board to condominiums, […]
IRS Collections for Individuals
From the Taxation Group What happens if I cannot pay my tax bill in full by the deadline? If you cannot pay your taxes in full by the deadline to file an extension for your tax return, you will receive a notice from the IRS reporting the amount you owe, plus penalties and interest. This […]
Dynasty Trusts: Leaving Assets to Children
From the Estate Planning and Probate Group While many people prefer to leave an inheritance to their child or grandchild in a trust, they incorrectly assume that once a minor reaches maturity a trust is no longer needed or advantageous. On the contrary, significant benefits can be obtained by leaving the assets in trust for […]
IP: Protecting Your Brand Through Trademarks
Keep the integrity of your company’s brand intact by trademarking your company’s name, logo or tag line.