Tag: inheritance
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Little Known Pitfalls of Co-owning Property
People often set up bank accounts or real estate so that they own it jointly with a spouse or other family member. The appeal of joint tenancy is that when one owner dies, the other will automatically inherit the property without it having to go through probate. This may sound like a good idea because…
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5 Legal Tips for New Parents in Washington State
1. Call Your Accountant. A new child in the family qualifies you for an additional tax deduction. In 2013, you qualify for a tax break of $3,900! Also, if you work or are headed back to work and employ someone to take care of your child, you’ll probably qualify for a child care credit. And review…
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What’s Considered Separate Property in a Washington Divorce?
In Washington State (and not all states are the same), separate property is recognized and taken into account in divorce proceedings. Separate property is exactly what it sounds like: the separate assets owned by each spouse before marriage. Separate property also includes gifts and inheritances even if they are received during the marriage. Here’s an…