Recent News

One of the requirements for making a valid will is that the testator have the legal capacity to do so.  Sometimes heirs or would-be-heirs under a will contend that the provisions thereof could not have been the testator’s true intentions, that the testator must not have been of sound mind, and that the will must… Read More

Statute Pursuant to RCW 68.50.160, a person has the right to direct how his or her remains are disposed after death.  “Directing” such disposition is best accomplished in writing which includes a description of the method of disposition (i.e. burial, cremation, donation for purposes of research etc.).  The written instructions should be signed and dated… Read More

The “applicable exclusion amount” is the amount of a deceased person’s estate that passes free of estate tax. This differs from the unlimited marital deduction that applies when one spouse dies and transfers all of his or her interest in property to the surviving spouse. There is an applicable exclusion amount for federal estate tax… Read More

An escrow holder owes fiduciary duties to all parties to the escrow, and owes the same duty of fidelity that an agent or trustee owes to its principles.  Parties to escrows frequently misunderstand these duties.  It is not an escrow holder’s job to sort out ambiguities of a contract between the parties; rather, the escrow… Read More

In the midst of divorce proceedings, the effect of those proceedings on existing estate planning documents and whether the estate planning documents should be replaced are probably not high on a person’s list of things to consider.  Under Washington law, a Will signed during marriage that gives property or powers to a spouse is revoked… Read More

“I want to gift some money to my kids, and avoid estate tax, but I know you can only give $15,000 in a year.” Clients say this regularly. But the gifting cap is a myth! In the vast majority of cases, the term “gift tax” is a misnomer. Only the very wealthiest are at risk… Read More

Getting a divorce is never easy --- but it certainly is less stressful when it is done amicably. In fact, many couples decide that they don’t need the advice of counsel because they are able to agree on the division of assets and liabilities --- and thus they proceed with filing pro se. Further, many… Read More

If and when they are adopted, new proposed IRS regulations would reduce the ability to use valuation discounts when valuing transfers of interest between family members in some family LLCs or family limited partnerships. The proposed regulations also expand the instances in which the lapse of certain voting and liquidation rights attached to an interest… Read More

The lawyers of Beresford Booth harness our expertise to maximize the benefit for our clients in any given situation. This can mean transforming a seemingly dire situation to a positive outcome. We enjoy creating efficient and successful outcomes. Recently, we had a client whose financial position was bleak. His wife had died, leaving property in… Read More