Relevant and Concise Estate Planning Blogs

revocable living trust

Your Revocable Living Trust Is Useless Without Funding!

May 15, 2022

  Revocable living trusts can be one of the most useful parts of an estate plan, but only if they’re properly funded. Many people establish a living trust for their estate, but most will also fail to properly fund it – often resulting in an unintended probate process that may distribute property to unintended beneficiaries. […]

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changes to will and trust

Can I Make Changes to my Will or Trust?

April 15, 2022

Our lives can at times undergo significant changes, whether through our own means or by events we can’t control. When important events happen, it’s crucial to account for them in your estate plan by updating your will or trust to reflect the changes in your life. While the maintenance of keeping your estate plan up […]

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How to Pass on Your Digital Assets & Cryptocurrency

How to Pass on Your Digital Assets & Cryptocurrency

February 19, 2022

Protecting investments and ensuring they get passed to the right people in the unfortunate event of a death can be a complicated process when cryptocurrency is involved. After all, cryptocurrency is known for decentralization and security; if only you are meant to ever have access to them, how do you ensure your assets are properly […]

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front of home at night

The Step-Up in Basis is (likely) Saved! What it Means for Your Estate Plan

December 13, 2021

Recently, the Biden administration was considering repealing a long time tax benefit that affects your estate plan – the so-called “step-up in basis.”  Fortunately, there is no mention of repealing this benefit in the newest Biden tax plan.  The step-up in basis is one of the most powerful ways to save on capital gains tax.  […]

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two people working in front of laptops

An Outline of the Washington Probate Process – and How to Avoid It

October 12, 2021

All states—including Washington—employ a legal process to close residents’ estates after they pass away. This legal process is referred to as probate.  In Washington, the probate process can be long and arduous – often taking 6-12 months or longer. Typically, an attorney is hired to navigate the process which can be costly. At Harbor Law […]

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front of home with expansive lawn

Washington State Estate Tax—What it is, and Tips to Minimize it

September 27, 2021

Both the federal government and the Washington state government impose a tax on assets after an individual passes away. Not all assets are taxed as there is an “exemption” amount—an amount of assets that are excluded from tax. The federal estate tax exemption is very high in 2021 at $11.7 million per person (however, Congress […]

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News Section Coming Soon…

September 1, 2021

Please check back later, this section is coming soon!

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mature couple meeting with attorney

Most People Don’t Have Wills–Here’s Why

August 31, 2021

Depending on the headline you read or the survey you saw reported, you may have heard that nearly half of American adults don’t have wills…or that just 40% have made estate planning arrangements…or that almost half of people over 55 still haven’t made a will. While the specifics differ and there’s no exact measure, the […]

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family posing for photo

Choosing Your Representatives in Washington State

August 29, 2021

When most people think about estate planning, the first thing that comes to mind is writing a will or creating a living trust. In other words, most people think in terms of passing property to loved ones. While that’s an important element of estate planning, it’s not the only one.  One area of estate planning […]

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grandparents playing with grandchildren

Choosing a Washington Healthcare Agent

August 25, 2021

One of the most important elements of a comprehensive estate plan is the appointment of a healthcare agent, also known as a healthcare representative. The person you choose will make medical decisions for you if you become incapacitated. For example, your healthcare agent will authorize treatment and make choices for you if you are in […]

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