Probate and Estate Planning
August 27th, 2019

When applying for Medicaid for yourself or on behalf of your spouse, it can be easy to forget that life insurance is an important asset that can impact financial eligibility. Generally speaking, term life insurance is an exempt resource and doesn’t count toward the Medicaid resource limits (the $2,000 resource limit for the applicant and,…

August 19th, 2019

Michael Kleps practices in the areas of Wills, Trusts, Estates and Elder Law.  He is back full time at Carmichael Clark, P.S. after a nine month sailing adventure on the east coast US, Bahamas and Cuba. His family found living and traveling on a 30’ sailboat to have quite a learning curve between keeping an…

March 15th, 2019

When a single individual purchases real estate in “fee simple,” which is outright ownership of the land, they hold a 100% interest in the property. When more than one person owns property together, a “tenancy” situation is created. “Tenancy” here does not mean how it is most commonly used today; no one is renting property…

June 16th, 2014

A trust is a separate legal entity for holding and investing property. One or more persons holds property, usually real estate or investments, for the benefit of another or several other people.

May 19th, 2014

A review of the top six ways claims can be barred and often are barred during Estate or Trust Administration.

July 9th, 2013

A life estate is an interest in property than exists only during the life of the owner, and no further. A future interest is created in the heirs.

May 20th, 2013

One of the most commonly employed estate planning devices is the Power of Attorney. This document generally comes in two varieties; a financial agency and a health care agency.

March 22nd, 2013

HIPAA, was enacted in 1996, to address concerns over unfretted access to individual medical information.

January 28th, 2013

If you remember having this conversation some 30 years ago, and at the advice of you brother-in-law, got a Will drafted, it’s time to pull it out, dust it off, and give it a read.

December 12th, 2012

Everyone is interested in minimizing their taxes. This is especially true with Estate Planning, where inheritance can create a taxable event for your heirs. For tax purposes, Washington employs a Step-up-in-Basis Rule. This rule is important for minimizing the amount of capital gain taxes to your heirs. Here are the basics of the Rule. ‘Basis,’…

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