Lane Powell PC - Trusts and Estates Law

So, your will or living trust is completely signed (finally!) and you have your durable power of attorney and your health care directive taken care of. Are you finished with your estate planning? Maybe not … If part of your…more

The Washington Trust Act (“Act”) became effective on January 1, 2012, and affects trusts created before, on or after January 1, 2012. Your institution may not qualify to serve as a trustee, but your clients may be beneficiaries…more

Trusts are commonly used in estate planning as a method to transfer property. They can be revocable or irrevocable and can be created during life or at death. A trust is created when an individual (a “trustor”) transfers…more

On December 17, 2010, President Obama signed into law the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (the “2010 Tax Relief Act”). The 2010 Tax Relief Act included a number of…more

Many of the current income tax rates were enacted as part of comprehensive tax legislation enacted in 2001. This legislation is scheduled to expire at the end of 2010 and it is uncertain what path the new Congress will take in…more

Several clients have asked for a summary of the provisions and impact of ballot initiative I-1098 (the proposed New Washington Tax on Income) if adopted. This summary has been prepared for those and other clients interested in…more

You are a philanthropist if you consistently donate charitable gifts to make the world a better place. You probably give considerable thought to your annual charitable giving, and you know how much the weak economy has…more

Family limited partnerships have become a valuable and dependable estate planning tool to transfer business property, real estate and other assets to family members. The discussion of family limited partnerships in this…more

The United States has imposed an estate tax since 1916. Approximately 85 years later, Congress enacted the Economic Growth and Tax Relief Reconciliation Act of 2001 ("EGTRRA"). EGTRRA included a number of changes to the income,…more

Editor’s Synopsis: Nonjudicial dispute resolution procedures for trust and estate matters are increasingly popular to minimize the expense, complexity, and publicity of court procedures. This article addresses the nonjudicial…more

During an economic recession, many people tighten their belts and look for ways to save money. Often, one of the first things they remove from their “to do” list is estate planning. There are, however, a couple of estate…more

As I write this article on a beautiful, sunny October afternoon in Seattle, the United States is only four weeks away from the next presidential election. When this article is published in December 2008, we will know the…more

On August 17, 2006, President Bush signed the Pension and Protection Act of 2006 (the “Act”) into law. The Act, aimed at strengthening pension funds, also made sweeping changes to tax laws related to charitable gifts. While most…more

On June 7, 2001, President Bush signed into law the Economic Growth & Tax Relief Reconciliation Act of 2001, which may affect your estate plan. This update summarizes briefly the most significant estate, gift and generation…more