Blog
Farmer Frog: Charity Chat
What is their goal/mission? Starting with the 2008 recession, Zsofia and Zsolt Pasztor started a school farming program at their children’s Everett school to help feed families of the students. Since then, they have been creating gardening spaces and teaching others...
A Changing of the Guard
Our longtime Practice Manager, Lynette Healey, retired from Three60 Law Group earlier this year. Lynette had been an integral part of our team since we opened back in 2017. Her contributions will always be valued and remembered, as will her friendly demeanor and...
Charitable Remainder Trust Summary
Charitable Remainder Trust (“CRT”) Summary Overview of a CRT. • A CRT is a general term for a class of irrevocable trusts that initially benefit noncharitable beneficiaries with the remaining assets passing to charity at the expiration of the trust term.• The...
Eastside Baby Corner: Charity Chat
What is their goal/mission? In 1990 Karen Ridlon, a pediatric nurse practitioner, started Eastside Baby Corner (“EBC”) with a goal to help children have what they need to grow, develop, and thrive. Thirty years later, their goal has stayed the same, and they have...
Annual AGI Limits on Charitable Income Tax Deductions
Time is running out to take advantage of the 100% charitable income tax deduction for gifts of cash to certain public charities. This 100% AGI deduction ends at the end of 2021. The chart below details the annual AGI limit for charitable income tax deductions. When planning gifts, it is important to understand that certain limits can be stacked. For example, in 2021 a gift of appreciated assets up to 30% of AGI can be combined with a gift to a public charity of cash up to 70% of AGI to receive a charitable income tax deduction of 100% of AGI.
MEDIC ONE FOUNDATION: Charity Chat Spotlight
What is their goal/mission? Since 1969, the Medic One Foundation has supported critical programs and initiatives to help our region’s Medic One Emergency Services. Guided by internationally-recognized medical advisors, the Medic One Foundation supports research and...
Welcoming Jack McClelland to Three60
Three60 Law Group is excited to welcome Jack McClelland to our growing estate planning practice! Jack began his legal career working for a plaintiffs’ litigation firm in Seattle where he advocated for his clients’ rights at school and in the workplace.
Charitable Giving with Appreciated Assets
By making your charitable contributions with long-term appreciated assets instead of cash, you will receive a charitable deduction for the full fair market value of the assets gifted. Even if you have a low basis in the assets, you will still receive a charitable...
THE SOPHIA WAY: Charity Chat Spotlight
What is their goal/mission? In 2006, Redmond resident Helen Leuzzi saw a growing need to help unhoused women in her community--a need overwhelming the capabilities of local charitable organizations. This inspired her to create The Sophia Way. Since opening in...
Planned Giving with your IRA
When setting up planned gifts to charities, the primary source of those gifts should be your IRA or 401K. If an IRA or 401K is left to a charity, the charity will likely distribute the IRA to itself in the first year after your passing.
NORTHWEST HARVEST: Charity Chat Spotlight
Northwest Harvest provides approximately two million meals a month. Two-thirds of the food they provide are fruits and veggies. Over 50% of the people they serve are either children or seniors. They also provide shelf-stable and ready-to-eat meals in King, Pierce, Yakima, and Spokane counties. In addition to donating to over 375 food banks, meal programs, and high-need schools, Northwest Harvest provides education for other food-based relief programs. During the COVID outbreak, Northwest Harvest has worked with the National Guard to provide over 500,000 emergency food boxes to those in need, while also serving over 1,500 people daily at their SODO Community Market, located in Seattle.
When to Review Your Estate Planning Documents
Review your estate plan annually. Here is a list of life events that should also trigger an immediate self-review of your estate planning documents.
Updated Status of Business at Three60 Law Group During the COVID-19 Outbreak
September 11, 2020: UPDATED Status of Business at Three60 Law Group During the COVID-19 Outbreak We hope this finds you and your families safe and well. Here is an update as to what the Three60 team is doing to fulfill our ongoing commitment to the safety of our...
Three60 Law Group Drive-Up Document Signing—Getting it Done Safely!
Right now you may be particularly focused on getting your estate planning documents in good shape, but you may not know how to accomplish that in this time of COVID. Washington law requires that wills be signed in-person before two witnesses. At Three60 Law Group we...
Grateful for GRATs: Grantor Retained Annuity Trusts–Even More Attractive in This Low-Interest Rate Environment
You may have heard some buzz recently about Grantor Retained Annuity Trusts (GRATs). As an estate planning strategy, GRATs work well in the current low interest-rate environment. They work especially well now that we have depressed values for certain asset classes. ...
Yes…We Are All In!
As an organization and as individuals, Three60 Law Group stands firmly against racism and the unlawful use of force. Our owners are fostering an inclusive space for people of all races and ethnicities. Although we cannot claim to understand what black communities...
Silver Linings – Family Lending and Gifting Opportunities Amid Market Turmoil
As we continue to plan for our clients, we want to highlight one positive side effect of the market turmoil, the decreasing applicable federal rate (AFR). In May, the AFR for a short-term loan (<3 years) will be .25%, for a mid-term loan (3-9 years) it will be...
Just for Fun—Try the Three60 Law Group Estate Planning Crossword Puzzle
It’s not the NY Times crossword puzzle, but we hope it’s fun nonetheless. Take a break from all of this serious, heavy stuff and try the Three60 estate planning-themed crossword puzzle. If you’d like the answer key, just email [email protected] and ask for it. We...
Coronavirus Tax Relief for Individuals
The Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”), which was signed into law on March 27, 2020, provides critical relief for many individuals and businesses. Additionally, state and local governments have responded in providing tax relief as...
Welcoming Dave Greenberg to Three60
SOME GOOD NEWS—THREE60 LAW GROUP WELCOMES DAVE GREENBERG During these trying times, team Three60 is thrilled to announce the excellent news that Dave Greenberg has joined the firm! Prior to joining Three60 Law Group, Dave spent almost seven years with the...
Secure Act
On December 20, 2019, a new Act—called the SECURE Act–was signed into law that changes the rules regarding retirement accounts.
Who Wants to be a Crypto-Philanthropist?
By Julia M. Lindeman & Jennifer L. King - Three60 Law Group PLLC Edited version of this article was published in the Puget Sound Business Journal on March 8, 2019. Subscribers of the Puget Sound Business Journal can view the article here. Let’s say you bought some...
A Trustee’s Duty to Provide Notice and Information to Beneficiaries
General Information/Reporting Due to Beneficiaries Permissible Distributee: a beneficiary who is currently eligible to receive distributions of trust income or principal, whether the distribution is mandatory or discretionary Qualified Beneficiary: a beneficiary who,...
Estate Plan Under Fire
By Julia M. Lindeman - Three60 Law Group PLLC Regardless of your individual stance on the Second Amendment, at some point we may represent clients who own firearms. As trusted members of their advisory team, we have a responsibility to advise our clients on the...
Beneficiary Designations: Truth or Consequences
FOR RETIREMENT PLANS AND LIFE INSURANCE TRUTH OR CONSEQUENCES—PLAN OR (MAYBE) HAVE YOUR PLAN FAIL While your will is central to your estate planning, for most people, it’s not the entire story. You probably have assets that pass directly to a beneficiary or a...
Quality of Life Inventory
The following inventory is designed to help you make decisions about the kind of healthcare treatment you may want and to help you share this information with your family, friends and healthcare providers. Health Treatment Please rate the following on a scale from 4...
What is a Revocable Living Trust?
An Estate Planning Conversation It’s 2:00 on a Thursday afternoon and I introduce myself to Julie and Aaron, a professional couple in their mid-forties with two children—one just finishing elementary school and one in middle school. We sit down around my...
Disclaimers: This material is for informational purposes only and not for the purpose of providing legal advice. You should contact your attorney to obtain advice with respect to any particular issue or problem. Use of and access to this material does not create an attorney-client relationship. The opinions expressed here are the opinions of the individual author and may not reflect the opinion of the firm or any other individual attorney. Any tax advice contained in this communication is not intended to be sided, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties.