You Probably Don’t Have to Pay Taxes When You Give That Gift
Many people think that if you make a gift larger than $16,000 (prior to 2022, this amount was $15,000), you have to pay taxes on that gift, but for most people the answer is that you don’t owe any taxes. Under current federal law, a person can make up to $12.06...
What happens if you die without a will in Washington State?
Did you know that if you die without a will, a revocable trust, or some other means to pass your assets upon death, they will be distributed to your relatives under the Washington State laws of intestacy? Under those laws, if you are married your spouse gets all of...
Revocable Trust and Medicaid Planning – Think Twice
Many people use a revocable trust (also known as a living trust) instead of a will to do their estate planning. Revocable trusts are a great estate planning tool, but if you and your spouse want to include Medicaid planning in your estate plan, you might want to...
Firearms Transfers
What happens if you’re the executor of an estate and the person who passed away owned a gun? On one hand, the firearm is just another estate asset to be distributed or disposed of under the terms of the will. On the other hand, there are very specific legal rules...
Mental health advanced directive
For many people with mental illnesses, the capacity to make treatment decisions fluctuates over time. Often, when they are most in need of treatment, they are least able to give informed consent to such care. This can lead to delays in treatment and may even prevent...About Talis Law PLLC
Stephen King practices law in Bellevue, WA. He writes short articles about estate planning to be informative and empowering.