Recent News

Individuals regularly hold their real estate in LLCs for many reasons, including asset protection, because an LLC is a “separate legal entity” RCW 25.15.071 (3) and members are not liable for debts of the LLC RCW 25.15.126 (1).  The distinction between an individual member and an LLC was front and center in a recent Washington… Read More

Draft carefully, because ambiguous drafting may leave you at the mercy of default rules of the LLC Act.  A recent Wisconsin Supreme Court decision, Marx v. Morris, 925 N.W.2d 112 (Wisc. 2019), illustrates the need for careful drafting. The Case’s Significance Before delving into the facts and dispute arising out of Marx, it is important… Read More

EDMONDS, WA, (January 5, 2021) – Edmonds-based full-service law firm Beresford Booth announced today that it added two lawyers to the firm’s team. “We are thrilled to welcome these experienced lawyers to our firm,” said David C. Tingstad, the firm’s Managing Partner. “We continue to grow in response to client demand. Our new attorneys’ experience in… Read More

In last week’s post, I identified some of the key distinctions when one holds an interest in an LLC, but is not a member (see here).  Members and transferees hold different rights. This post seeks to further explore the similarities and differences between members and transferees. Rights of Members and Transferees Members and transferees share… Read More

The answer to that question is maybe, maybe not.  Most durable powers of attorney are written to be very broad in their coverage.  For example, they may include language such as, “my attorney-in-fact shall have all powers that I would have if alive and competent to act” or “the attorney-in-fact shall have all the powers… Read More

The U.S. tax code presently allows adoptive families a tax related benefit for any and all qualifying costs and fees incurred in pursuing an adoption.   The IRS allows a fairly broad definition of allowed costs and fees such that in most cases, any and all fees and costs paid to an adoption agency, an… Read More

You may have heard that “membership has its privileges.”  But what if a person has an interest in an LLC but is not a member?  In general, such a person is a “transferee” and holds only a “transferable interest.” Transferable Interest Defined Under RCW 25.15.006(20) a transferable interest “means a member’s or transferee’s right to… Read More

This Thanksgiving holiday, the staff and lawyers at Beresford Booth prepared Thanksgiving meals with Homage Senior Services to serve to older adults and individuals with disabilities throughout Snohomish County. Homage delivered hundreds of hot Thanksgiving meals to individuals on Thanksgiving Day, along with “refrigerator ready” leftovers for the day after. Homage did a wonderful job… Read More

Not all deeds are created equal.  For example, in the case of a quit claim deed, the grantor makes no warranty that they even own the property being conveyed.  Rather, the grantor merely transfers whatever the transferor actually owns.  But in the case of a statutory warranty deed, the grantor makes certain promises which give… Read More