Tarraf Law Office

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04/01/2021

With proper estate planning, you can ensure that your heirs will receive a greater portion of what you have to leave to them when you pass. Without a legal plan in place, the state may end up making many of these decisions for you.

03/30/2021

There are exceptions to the federal gift tax rules. While there is a limit on gifts with no tax obligation, you can make unlimited gifts to your spouse, to pay for college tuition, to any charity or to a political organization without having to pay taxes on that gift.

03/25/2021

Many states have estate taxes, and in some instances, those taxes affect even small estates with modest assets. It’s particularly important, therefore, to work with an estate planning attorney who can help you maximize your assets and protect your heirs.

03/23/2021

With a Charitable Trust you are able to retain your income stream. You might also be able to obtain your current tax deductions, defer capital gains taxes, help reduce the cost of gifts to future generations, and make long-term provisions for the charities of your choice.

03/18/2021

While an estate planning attorney’s immediate goal is to help you plan your estate and define last wishes, the attorney can also be helpful to those left behind and help the executor charged with managing the estate perform the myriad duties required by law.

03/16/2021

Choosing someone to be in charge of your medical decisions if you become mentally incapacitated can be extremely difficult, but an estate planning attorney can make sure your wishes are carried out. There’s no family controversy or probate to worry about.

03/11/2021

So how do you know if it would benefit your estate to establish a trust for your beneficiaries? The general rule is that, when an estate is valued at $100,000 or more, establishing a trust may be beneficial.

03/09/2021

Sometimes, English is confusing. The word “estate” can for example be used to describe: an individual’s property, possessions and capital; all the assets and liabilities of a deceased person; a state or condition; status, rank or social class; or land containing a large or lavish home.

03/04/2021

An estate planning attorney can help you draft official documents that can’t be disputed after you’re gone. A will is vital if you have young children, and you also need power of attorney for potential healthcare needs and financial matters.

03/02/2021

Unfortunately, not every family gets along or continues to do so after a funeral. Putting your wishes in a legal document now will help to curb any potential fighting between family members.

02/25/2021

So what exactly is a charitable trust when it comes to estate planning? This is a trust established specifically for charitable contributions. If the trust qualifies under IRS laws as a charitable organization, then any donations to that trust can be tax deductible.

02/23/2021

In estate law, a private annuity is a means of transferring property by “selling” it for an unsecured promise to pay the original owner an income for life. The “sale” price is based on the fair market value at the time of the sale.

02/18/2021

Did you know that if you pay the medical bills for someone and send the payments directly to the healthcare provider there is no gift tax – no matter the total cost of the payments? Finding ways to lower the potential taxes on your estate is a big element of estate planning.

02/16/2021

The precursor to the modern system of estate taxes was introduced with the Revenue Act of 1916. The exemption figure was $50,000 - which would figure out to more than $11 million today - with tax rates that started at 1 percent and maxed out at 10 percent.

02/11/2021

In estate planning, a conservator is typically appointed by a court. This is a person who is charged by the court to manage the estate of a protected person who due to age or health is incapable of managing his or her own affairs.

02/09/2021

What is a living will? This document tells health care providers what type of treatment you want in end-of-life situations. In some cases, you could be incapacitated and unable to tell doctors whether to pursue any possible means for recovery or whether you’d prefer that no artificial means of keeping you alive are utilized.

02/04/2021

Did you know that taking the time to create an estate plan now can spare your loved ones a protracted legal battle? Even if your family isn't the sort to fight over your assets, the lack of a will can make settling an estate difficult in some states.

02/02/2021

Many people do not understand the degree of discretion involved in leaving assets to family and friends. You aren’t forced to leave all of your property to one relative or another. Special items you owned may have had special meaning to certain children, for example. Without a will, there’s no guarantee your property will go to the person you would choose.

Address

Mount Vernon, WA

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

(360) 488-7802

Website

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