ortizgosalialaw.com https://ortizgosalialaw.com Ortiz Gosalia Law Firm | Redmond, WA Fri, 24 May 2019 20:00:34 +0000 en-US hourly 1 https://wordpress.org/?v=4.9.6 What to Bring to Your First Meeting with the Estate Planning Attorney https://ortizgosalialaw.com/2019/05/24/what-to-bring-to-your-first-meeting-with-the-estate-planning-attorney/ https://ortizgosalialaw.com/2019/05/24/what-to-bring-to-your-first-meeting-with-the-estate-planning-attorney/#respond Fri, 24 May 2019 19:24:13 +0000 https://ortizgosalialaw.com/?p=7553 If you are thinking about putting together an estate plan, it is important to consult with an attorney who is knowledgeable and experienced in this area of law. Your initial meeting with an estate planning attorney is a good opportunity to discuss your family’s financial situation as well as your concerns and goals. If you […]

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Are Any of These 11 Mistakes Lurking in Your Estate Plan? https://ortizgosalialaw.com/2019/05/24/are-any-of-these-11-mistakes-lurking-in-your-estate-plan/ https://ortizgosalialaw.com/2019/05/24/are-any-of-these-11-mistakes-lurking-in-your-estate-plan/#respond Fri, 24 May 2019 19:21:33 +0000 https://ortizgosalialaw.com/?p=7551 1) Lack of Healthcare and Disability Planning. The majority of deaths occur in hospitals or other institutions. Patients may be incapacitated to the point where they can no longer communicate their healthcare wishes. Advance Directives and a Healthcare Power of Attorney can identify healthcare proxy decision-makers, specify wishes for end-of-life care, and provide a formal […]

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Wills, Trusts & Dying Intestate: How They Differ https://ortizgosalialaw.com/2018/12/10/wills-trusts-dying-intestate-how-they-differ/ https://ortizgosalialaw.com/2018/12/10/wills-trusts-dying-intestate-how-they-differ/#respond Mon, 10 Dec 2018 21:57:40 +0000 https://ortizgosalialaw.com/?p=7516 Most people understand that having some sort of an estate plan is a good thing. However, many of us don’t take the steps to have an estate plan prepared because we don’t understand the nuances between wills and trusts – and dying without either. Here’s what will generally happen if you die, intestate (without a […]

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Do you really need a trust? https://ortizgosalialaw.com/2018/12/10/do-you-really-need-a-trust/ https://ortizgosalialaw.com/2018/12/10/do-you-really-need-a-trust/#respond Mon, 10 Dec 2018 21:09:10 +0000 https://ortizgosalialaw.com/?p=7514 Although many people equate “estate planning” with having a will, there are many advantages to having a trust rather than a will as the centerpiece of your estate plan. While there are other estate planning tools (such as joint tenancy, transfer on death, beneficiary designations, to name a few), only a trust provides comprehensive management […]

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Your 2018 Taxes – Get Started Now https://ortizgosalialaw.com/2018/10/21/your-2018-taxes-get-started-now/ https://ortizgosalialaw.com/2018/10/21/your-2018-taxes-get-started-now/#respond Sun, 21 Oct 2018 18:39:05 +0000 https://ortizgosalialaw.com/?p=7505 While the end of the year is not quite here yet (but rapidly approaching), now is an opportune time to take a moment and start your year-end tax planning for 2018. This is particularly necessary this tax year because of the changes to the tax law that became effective in 2018. As a result of […]

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Which life events that require an immediate estate plan update? https://ortizgosalialaw.com/2018/10/21/which-life-events-that-require-an-immediate-estate-plan-update/ https://ortizgosalialaw.com/2018/10/21/which-life-events-that-require-an-immediate-estate-plan-update/#respond Sun, 21 Oct 2018 18:10:15 +0000 https://ortizgosalialaw.com/?p=7502 Estate planning is the process of developing a strategy for the care and management of your estate if you become incapacitated or upon your death. One commonly known purpose of estate planning is to minimize taxes and costs, including taxes imposed on gifts, estates, generation skipping transfer and probate court costs. However, your plan must […]

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Why Joint Tenancy Should Not Be the Go-To Plan for Newlyweds https://ortizgosalialaw.com/2018/10/21/why-joint-tenancy-should-not-be-the-go-to-plan-for-newlyweds/ https://ortizgosalialaw.com/2018/10/21/why-joint-tenancy-should-not-be-the-go-to-plan-for-newlyweds/#respond Sun, 21 Oct 2018 18:06:52 +0000 https://ortizgosalialaw.com/?p=7500 If you are recently married or have been married and are acquiring additional assets, know that you have options when it comes to how the property will be titled. And, although joint tenancy seems like an easy and convenient choice, it may not work as well as you would think. What is Joint Tenancy? After […]

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Who should I pick to be successor trustee? https://ortizgosalialaw.com/2018/07/27/who-should-i-pick-to-be-successor-trustee/ https://ortizgosalialaw.com/2018/07/27/who-should-i-pick-to-be-successor-trustee/#respond Fri, 27 Jul 2018 19:54:48 +0000 https://ortizgosalialaw.com/?p=7482 When you create a living trust, you usually need to choose who to name as your successor trustee. It is crucial that this decision is not taken lightly and that the right person is selected for the job. Role of Successor Trustee If you become incapacitated, your successor trustee will step into your shoes and […]

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How to Leave Your Life Insurance and Retirement Plan to Your Minor Children https://ortizgosalialaw.com/2018/07/27/how-to-leave-your-life-insurance-and-retirement-plan-to-your-minor-children/ https://ortizgosalialaw.com/2018/07/27/how-to-leave-your-life-insurance-and-retirement-plan-to-your-minor-children/#respond Fri, 27 Jul 2018 19:51:27 +0000 https://ortizgosalialaw.com/?p=7480 Your children are your pride and joy. It is no surprise that at some point or another, every parent likely becomes concerned about who will care for a minor child or children if one or both parents die or are incapacitated. From a financial perspective, many parents turn to life insurance in an effort to […]

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The IRS’s Offshore Voluntary Disclosure Program is Ending https://ortizgosalialaw.com/2018/05/22/the-irss-offshore-voluntary-disclosure-program-is-ending/ https://ortizgosalialaw.com/2018/05/22/the-irss-offshore-voluntary-disclosure-program-is-ending/#respond Tue, 22 May 2018 13:49:42 +0000 http://ortizgosalialaw.com/?p=7248 Effective September 28, 2018, the IRS is ending the Offshore Voluntary Disclosure Program (OVDP). In order to participate in the OVDP, a taxpayer must make a complete submission by September 28, 2018. OVDP is a voluntary disclosure program specifically designed for taxpayers with exposure to potential criminal liability and/or substantial civil penalties due to a […]

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