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September 2012 Archives

Incorporating life insurance into Kent estate plans

Kent readers may be aware that the current $5 million federal estate tax exemption is slated to expire at the end of this year. The impending end of the hefty exemption has spurred an upswing in the popularity of a little-known form of life insurance that can play an important role in a comprehensive estate plan.

Tax-tied trust glitch highlights need to review estate plans

Kent readers who have tuned in to recent discussions about the importance of regularly reviewing estate plans may be interested in a story that provides a clear example of how the failure to keep a plan current can lead to divisive probate litigation between family members. This unfortunate story involves a family that built a healthy retail business and parlayed it into a $100 million estate through a sale to a major electronics chain.

Account for digital assets in Kent estate plans

Readers in the greater Seattle area may have taken note of some previous discussions regarding the importance of including one's digital assets in an estate plan. Over the past several months, the federal government has been encouraging people to compile a list of digital accounts and passwords to keep with other important estate documents. An organized and comprehensive list of digital accounts can greatly simplify the job of one's personal representative during estate administration.

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To speak with an attorney at Gellner Law Group about estate planning, probate, trusts, wills or tax controversy, contact our law office in Kent, Washington, today. You can call 425-336-2908 or send us an email. We provide representation across the entire Seattle-Tacoma metropolitan area.

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