Incorporating a Family Limited Partnership (FLP) into your estate plan can be a strategic move to protect and manage your family's wealth while minimizing estate taxes.

Incorporating a Family Limited Partnership (FLP) into your estate plan can be a strategic move to protect and manage your family's wealth while minimizing estate taxes. An FLP allows you to transfer assets to family members in a controlled manner, often at a discounted value due to the nature of limited partnership interests. This structure not only provides significant tax advantages but also ensures that the management and decision-making power remain with the general partners, typically the senior family members. By leveraging an FLP, you can effectively manage gift and estate tax exemptions, protect assets from creditors, and provide for the seamless succession of family-owned businesses or investments, thereby preserving your family's financial legacy for future generations.

If you have questions about Family Limited Partnerships or any other estate planning tools or techniques, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.

Nonqualified Deferred Compensation (NQDC) plans can be a strategic tool in your estate planning toolkit.

Nonqualified Deferred Compensation (NQDC) plans can be a strategic tool in your estate planning toolkit. These plans allow high-earning individuals to defer a portion of their income until a later date, usually retirement, which can provide substantial tax advantages. By deferring income, you can reduce your current taxable income and potentially lower your estate's taxable value. Additionally, NQDC plans can be structured to provide financial security for your heirs, ensuring that deferred payments continue to benefit your family after your passing. Incorporating NQDC plans into your estate plan not only enhances your long-term financial strategy but also supports your legacy goals by providing a steady income stream to your beneficiaries.

If you have questions about Nonqualified Deferred Compensation plans or any other estate planning questions, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.

Incorporating charitable split interest Trusts into your estate plan can provide a unique blend of philanthropy and financial benefits.

Incorporating charitable split interest Trusts into your estate plan can provide a unique blend of philanthropy and financial benefits. These Trusts, such as Charitable Remainder Trusts (CRTs) and Charitable Lead Trusts (CLTs), allow you to support meaningful causes while securing tax advantages and income streams for yourself or your heirs. With a CRT, you can receive income from the Trust for a set period or your lifetime, with the remaining assets eventually going to a charity, potentially reducing estate taxes and providing an immediate charitable deduction. Conversely, a CLT enable you to transfer assets to heirs at reduced tax costs, as the Trust provides income to a designated charity for a specific term before the remaining assets revert to your beneficiaries. By integrating charitable split interest Trusts into your estate plan, you can create a lasting legacy, benefit from tax efficiencies, and support the causes you care about most.

If you have questions about charitable split interest Trusts or any other estate planning questions, give us a call at 253.858.5434 to set up an appointment today. We proudly represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference, whatever is most convenient for our clients.

When you're injured in an auto collision, hiring a lawyer can be a crucial step in securing the compensation and justice you deserve.

When you're injured in an auto collision, hiring a lawyer can be a crucial step in securing the compensation and justice you deserve. An experienced lawyer understands the complexities of insurance claims legal procedures, ensuring that your rights are protected and that you are not taken advantage of by insurance companies aiming to minimize payouts. Lawyers can gather vital evidence, negotiate settlements, and, if necessary, represent you in court, giving you peace of mind to focus on recovery. By leveraging a lawyer's expertise, you can significantly increase the likelihood of a favorable outcome, covering medical expenses, lost wages, and other damages resulting from the collision.

If you or a friend, family member, neighbor, or coworker have been injured in an auto collision and need legal representation, give us a call at 253.858.5434 to set up a free initial consultation today.

The Maritime Gig Festival is this weekend! Here are the schedule of events and the lineup for live music at Skansie Brothers Park.

The Maritime Gig Festival is this weekend! Here are the schedule of events and the lineup for live music at Skansie Brothers Park. Also, be aware that Harborview Drive between Rosedale Street and Pioneer Way will close between 5 a.m. Saturday and 7 p.m. Sunday. On Saturday only, Harborview Drive will close from Burnham Drive to Soundview Drive between 8:30 a.m. and 1 p.m. Lower Soundview, Judson Street, and parts of Stinson Avenue and Rosedale Street will close for the same period to accommodate the fun run and parade.

EVENT SCHEDULE:

Saturday, June 1st

8:00 a.m. Kiwanis Pancake Breakfast at Skansie Brothers Park

8:30 a.m. Kids Dash

8:45 U.S. Bank Family Fun Run

10:00 a.m. Maritime Gig Grand Parade

12:00 p.m. Entertainment and Concerts Begin

12:00 p.m. Business Booths, Food Vendors, Craft Vendors, and Children’s Fair Open

12:00 p.m. Harbor History Museum Opens

12:00 p.m. Harbor Wildwatch Opens

2:15 p.m. Parade Awards

Sunday, June 2nd

10:00 a.m. Local Makers Market Opens

10:00 a.m. Entertainment and Concerts Begin

10:00 a.m. Harbor Wildwatch Opens

11:00 a.m. Wheels on the Water Car Show

1:00 p.m. Blessing of the Fleet

3:00 p.m. Car Show Awards

MUSIC SCHEDULE

Saturday, June 1st

11:45am | My Guilty Pleasure

1:00pm | Kellee Bradley Band

2:30pm | Nick Cain

3:30pm | Brian James was Here

5:00pm | Kim and Brian Music, LLC

6:30pm | Kalimba

Sunday, June 2nd

10:00am | The Jewel Tones

11:30am | Caroline Goodwin

12:00pm | Dixie Dusters / NMS Ceremonial Band

2:00pm | Stacy Jones Band

3:30pm | The Shy Boys

Give us a call if you have questions about the income, estate, and gift tax ramifications of charitable giving or if you want to make charitable contributions a part of your estate plan.

A charitable contribution is a gratuitous transfer of property to charitable, religious, scientific, educational, or other specific organizations. If the recipient of the gift falls within categories designated by the Internal Revenue Code, a charitable deduction may be taken for income, gift, or estate tax purposes.

Charitable contributions have tax value, therefore, because they result in a current income tax deduction, may reduce estate taxes, and can be made free of the gift tax. From the charity's point of view, charitable contributions are also tax favored; the charity itself pays no tax upon the receipt of either a lifetime gift or a bequest and, generally, no income tax is paid by the qualified charity on income early by the charity on donated property.

If you have questions about the tax ramifications of charitable contributions, give us a call at 253.858.5434 to see how we can help!

Dynasty estate planning is an intricate process that ensures wealth and assets are preserved and managed across multiple generations and branches of a family.

Dynasty estate planning is an intricate process that ensures wealth and assets are preserved and managed across multiple generations and branches of a family. By employing strategies like creating Trusts, establishing family offices, and leveraging tax-efficient investments, families can safeguard their legacy while maintaining financial harmony among various branches. This type of planning not only addresses the distribution of assets but also instills governance structures and shared values that promote unity and responsible stewardship. Effective dynasty planning minimizes potential conflicts, provides for each generation's needs, and reinforces the family's collective vision for the future, ensuring their wealth endures and benefits all descendants.

If you have estate planning questions, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.

For small business owners, having a relationship with a lawyer to serve as the business's general counsel is critical for safeguarding the company's interests.

For small business owners, having a relationship with a lawyer to serve as the business's general counsel is critical for safeguarding the company's interests. We can provide proactive legal advice, helping to prevent issues before they arise, from compliance with regulations to drafting and reviewing contracts. We ensure your business is protected against potential lawsuits, intellectual property theft, and employment disputes. Furthermore, having a dedicated legal advisor means swift and knowledgeable responses to any urgent legal matters, allowing business owners to focus on growth and operations without being bogged down by legal uncertainties. This partnership not only mitigates risks but also provides a strategic advantage in making informed, legally sound business decisions.

If you are a small business owner and are seeking legal advice and representation, give us a call at 253.858.5434 to set up an appointment today. We proudly represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.

The topics of Wills, Trusts, estates, and probate are often shrouded in misconceptions. We're here to dispel those myths for you.

Drafting a Will and managing estates can be daunting tasks, often shrouded in myths and misconceptions. One prevalent myth is that Wills are only for the wealthy. In reality, Wills are essential for anyone who wants to ensure their assets are distributed according to their wishes. Without a Will, state laws dictate how assets are divided, which may not align with your intentions. Additionally, some believe that a Will is a one-time document. However, life changes such as marriage, divorce, or the birth or adoption of children necessitate updates to reflect new circumstances accurately.

Another common myth is that estate planning is only for the elderly. Regardless of age, anyone with assets should consider estate planning to protect their loved ones and assets. Furthermore, some believe that estate planning is only about distributing assets after death. However, it also includes important documents like appointing guardians for minor children and establishing health care directives. Understanding these myths helps individuals navigate the complexities of Wills and estates, ensuring their wishes are honored and their loved ones are protected.

If you have questions about Wills and estates, give us a call at 253.858.5434 to set up an appointment today.

Leaving a Will is one of the most significant acts of kindness and responsibility we can undertake for our loved ones.

Leaving a Will is one of the most significant acts of kindness and responsibility we can undertake for our loved ones. While contemplating mortality can be uncomfortable, a Will ensures that our wishes are clear and legally binding, sparing our family members from the burden of making difficult decisions during an already emotional time. Without a Will, the distribution of assets and guardianship arrangements can become contentious and drawn-out, potentially causing rifts within families. By taking the time to draft a Will, we provide invaluable peace of mind and guidance to those we leave behind, allowing them to focus on grieving and healing rather than navigating legal complexities.

If you have questions about Wills, Trusts, or any other aspect of estate planning, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.

Appointing in-laws to fiduciary positions in your estate plan can have both benefits and drawbacks.

Appointing in-laws to fiduciary positions in your estate plan can have both benefits and drawbacks. On the one hand, selecting a trusted family member, such as an in-law, can provide a sense of familiarity and comfort knowing that someone close to the family is managing your affairs. Additionally, in-laws may have a vested interest in ensuring the well-being of their extended family members. However, there are potential risks, such as conflicts of interest or strained relationships that could arise if disagreements occur among family members regarding the distribution of assets or decision-making authority. Careful consideration of the dynamics and communication within the family, as well as clear documentation of expectations, can help mitigate these challenges and ensure the smooth execution of your estate plan.

If you have questions about creating an estate plan, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.

Social media is a rich hunting ground where insurance companies and defense lawyers search for evidence to undermine a personal injury victim’s claim for damages.

We routinely warn our clients to exercise extreme caution on social media when involved in a personal injury claim. Social media is a rich hunting ground where insurers and defendants’ lawyers search for evidence to undermine an injury victim’s claim for damages. Scouring Facebook, Instagram, Twitter, or other popular social media sites has become a standard procedure during the discovery phase. In your personal injury case, the opposing party will be looking for pictures of you enjoying yourself, appearing more mobile than your alleged injuries should allow, and realistically any information that could paint you in a negative light regarding your legal claims.

NOTHING IS TRULY PRIVATE. Photos, written comments, or even a check-in at a business, like a gym, can serve as evidence against you. Much of the content about your activities and whereabouts captured on social media can be admissible in court. Your privacy settings do not ensure that your information is protected. Friends who tag you might reveal a picture of you that might be interpreted against you. You have no control over who tags you.

Not all of your connections on social media are necessarily trustworthy. Your friends and acquaintances might even be misled into sharing information about you by private investigators digging for information. A private investigator might even send you a friend request to gain access to your feed. If your privacy settings are not particularly restrictive, an investigator could locate some of your account’s content. Your name and email address or place of employment might allow an investigator to pinpoint your account and start monitoring it.

Due to the insecurity of social media platforms, we advise our clients to refrain from discussing their case online or sharing anything about the collision or current activities.

HOW CAN SOCIAL MEDIA DAMAGE A PERSONAL INJURY CASE The number one priority for the opposing party is finding evidence to dispute your claims about physical pain, suffering, disability, or emotional distress. Any content that could conceivably disprove the merit of your request for compensation will be exploited. Pictures of you engaged in activities that your injuries should preclude represent the top source of evidence that could devalue your claim. Images of you at the beach or doing yard work may form an argument that you are not suffering or disabled. An insurer or lawyer might even argue that seemingly innocent pictures of you smiling alongside friends negates your complaint of emotional distress.

Any controversial or erroneous statements that you published online could be twisted into an attack on your credibility. Your opponent might suggest that you change your mind often, have conflicting opinions, and are not a very reliable source of information. Criticism of the person responsible for your injury or criticism of the insurance company on social media also provide fodder for the defendant. The opposing party might paint a picture of you as someone with a vendetta. Arguments like these have the potential to influence jurors’ opinions against you. As a result, you can expect your lawyer to warn you to never mention anything about your legal case online.

WHAT TO AVOID DOING. Although you may enjoy your social media interactions and appreciate expressions of sympathy regarding your collision and injuries, social media silence will be your best strategy during litigation.

To protect your injury case, do NOT:

* Engage with people online who you do not know or trust

* Share any information about the insurance claim or lawsuit

* Respond to comments about the incident

* Share any pictures of you in potentially compromising settings or situations

* Share any content related to celebrating, partying, or drinking

Although this advice might seem extreme, the party responsible for your damages wants to avoid paying a high settlement. A picture of you posing with a friend with a smile on your face does not communicate the pain that you endured to struggle out of a chair to stand for a moment. People coping with chronic pain sometimes find the strength to enjoy themselves, but images cannot tell that side of the story.

PROTECT YOUR INJURY CLAIM WITH LEGAL GUIDANCE. Few people who suffer a personal injury possess expertise in the tactics used to deflect claims for damages. When you launch a personal injury case, you are likely entering new and unfamiliar territory. The process is very adversarial, and you may not anticipate the level of creativity that will discredit your suffering and losses. We know what to expect. We can guide you through each step on the road to recovering financial damages. Contact us at 253.858.5434 today.

By creating an Educational Trust, whether for children, grandchildren, nieces, or nephews, you're laying a solid foundation for their educational pursuits.

Creating an Educational Trust for the younger generations is a profound way to invest in their future. By establishing such a Trust, whether for children, grandchildren, nieces, or nephews, you're laying a solid foundation for their educational pursuits. This proactive step ensures that they have the financial support necessary to pursue higher education without the burden of hefty student loans. Moreover, it fosters a sense of security and empowerment, giving them the freedom to focus on their studies and explore their passions without financial constraints. Investing in your younger loved ones' education is investing in their potential, setting them on a path towards a brighter and more fulfilling future.

If you have questions about Educational Trusts or otherwise providing for your younger family members, give us a call at 253.858.5434 to set up an appointment today. We proudly represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.

Updating your estate plan is important, especially when unforeseen circumstances arise such as a spouse or child falling ill or becoming disabled.

Updating your estate plan is important, especially when unforeseen circumstances arise such as a spouse or child falling ill or becoming disabled. In these challenging times, reviewing and potentially revising your estate plan ensures that your loved ones are adequately provided for and that their needs are met in the event of your incapacity or passing. Whether it involves adjusting beneficiaries, establishing Trusts, or updating Powers of Attorney, proactive planning can offer peace of mind and financial security during difficult times. By addressing these changes promptly, you can navigate these challenges with greater confidence, knowing that your estate plan reflects your current wishes and priorities.

If you would like to talk about creating an estate plan or updating an existing one, give us a call at 253.858.5434 to set up an appointment today. We represent clients throughout Washington and Idaho and are available to meet in person, by phone, or via video conference.