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Legacy Planning

10 Types of Trusts: A Quick Look

Posted on: July 18th, 2016
Considering the myriad of trusts available, creating an estate plan that works can seem daunting. However, that’s what we, as estate planning attorneys, do every day. We know the laws and will design a plan which addresses your specific situation. Here’s a look at the basics of ten common trusts to provide a general understanding. There will not be a quiz at the end. All you need to do when we meet is to share your goals and insights into your family and financial situation, and we will design a plan that best supports your situation. ...

4 Tips for Avoiding a Will or Trust Contest

Posted on: January 14th, 2016
A will or trust contest can derail your final wishes, rapidly deplete your estate, and tear your loved ones apart. But with proper planning, you can help your family avoid a potentially disastrous will or trust contest. ...

Heads Up: These States Will Usher in Changes to Their Death Taxes in 2016

Posted on: January 4th, 2016
In 2016, there are still 19 U.S. jurisdictions that collect a death tax at the state level: Connecticut, Delaware, District of Columbia, Hawaii, Illinois, Iowa, Kentucky, Maine, Maryland, Massachusetts, Minnesota, Nebraska, New Jersey, New York, Oregon, Pennsylvania, Rhode Island, Tennessee (repealed this year), Vermont, and Washington. Even if you don’t live in one of these states, the state estate tax may affect you in the future since many people move from time to time. It may affect your beneficiaries, because they may live or move to one of these states. The following states will see changes to their state death taxes in 2016:...

What’s Hot in Estate Planning Right Now May Surprise You

Posted on: November 2nd, 2015
Estate planning has truly evolved over the past 20 years. Gone is the uncertainty about federal estate taxes and the absolute requirement for married couples to use complex trusts to minimize these taxes. But also gone is planning for the “traditional” family. In fact, today estate planning is more complicated than ever before....

National Estate Planning Awareness Week

Posted on: October 29th, 2015
In 2008 the National Association of Estate Planners & Councils (NAEPC), in conjunction with Rep. Mike Thompson (D-CA) and 49 of his colleagues, helped pass a law which declared the third week in October “National Estate Planning Awareness Week.” ...

2016 Estate and Gift Tax Predictions

Posted on: October 29th, 2015
Under current law the federal estate tax, gift tax, and generation-skipping transfer tax exemptions have become unified and are indexed for inflation on an annual basis. Since 2011, the exemption and tax rate have changed as follows:...
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Leonard A. Hagen, J.D., LL.M.
Sound Estate Planning, PLLC
152 3rd Ave. South, Ste. 107
Edmonds, WA 98020
Phone: (425) 967-7287
len@soundestateplanning.com

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