Author: MCWS Law

Image by benzoix on Freepik An important part of the estate planning process is to protect your assets and care for your loved ones. Many people have heard that an important step in accomplishing these goals is to avoid probate at all costs. However, the majority of us are simply unaware of why this is true. Let’s take a moment to shed some light on the topic. What is Probate? Washington state...

Washington state law defines trade secrets as information that is both not generally known to the public and provides a competitive advantage to a business. This information can include such things as formulas, patterns, designs, compilations of data, customer lists, or any other information that is kept confidential and is important to a business. Trade secrets can be critical to the success...

A Limited Liability Company, or “LLC,” is a specific type of Washington business entity. The main benefits of an LLC are that it provides business owners with liability protection, a flexible management structure, and certain tax advantages. While most LLCs enjoy longevity and success, some become difficult to manage and questions abound on how to remove a member from the entity. Let’s take a...

The law can definitely be a source of confusion. One of the reasons is that there are multiple areas of the law that use seemingly foreign words and phrases. Estate planning is one of these areas. To help avoid some confusion, we’ve taken some type to explain a host of estate planning terms. Please contact a skilled estate planning attorney now to create an estate plan or review an existing...

As with any area of the law, estate planning is the source of several myths and misbeliefs. The unfortunate reality is that these misbeliefs often prevent people from completing an effective estate plan in the first place. Please know, however, that everyone should have a plan in place to protect their wishes, assets, and family. Please contact a skilled estate planning lawyer now if you don’t...

Probate refers to the general administration of a decedent’s estate. It involves the paying off of a decedent’s debts and the distribution of his/her assets. While probate can run smoothly, we also know from experience that it can be frustrating and involve conflict and disputes between family members. This doesn’t always have to be the case, though, since there are a few things you can do to...

A non-compete clause is a common clause that you will see in a Washington employment agreement. The provision essentially prevents a former employee from working for another company in certain situations. Including a non-compete clause in your employment contract can work to effectively keep your competitors at bay. What is a Non-Compete Provision? A non-compete clause basically prevents a...

Estate planning is often overlooked, avoided, or put off for another day. But the reality is that everyone should have a plan in place. This is especially true if you have children and/or own a home. Please note, though, that an effective estate plan does not have to be overly complicated. Rather, you can start with four key necessities and build on from there. These necessities include a...

In response to inflation rates, the IRS recently announced a few gift and estate tax changes that it will begin implementing in 2023. The changes will likely benefit your estate plan. If you don’t have a plan, or are looking to modify your existing plan, please contact a skilled estate planning attorney today! Gift Tax Annual Exclusion Beginning on January 1, 2023, the IRS will increase the...

The term “indemnity” often arises in the context of business contracts. In particular, it helps explain how one party to a contract will get compensated following a financial loss because of another party’s conduct. But please keep in mind that the particular way an indemnity provision will work often depends on the specific language used in an agreement. What Does “Indemnity” Mean? Let’s...