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NorthStar Law Group
Business and Estate Planning in Olympia, WA
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  • About
    • About NorthStar Law Group
      • Christopher T.L. Brown
      • Ruth Qi
      • Alexandra Chu
      • Erin Flannery
    • Reviews
  • Business
    • Business Formation Lawyer & Startups
    • Business Management
    • Business Transitions
  • International
    • International Business Transactions / Mergers and Acquisitions
    • International Tax
    • International Estate Planning
  • Trust & Estates
    • Estate Planning
    • Probate & Trust Administration
    • Non-Profit & Charitable Giving
  • General Counsel
  • Library
    • Forms
    • News
      • 3 Common Mistakes About Estate Planning
      • Financial Powers of Attorney
      • Health Care Powers of Attorney and Advance Directives
      • What is a Will and Why Do you Want One?
    • Videos
      • Estate Planning Videos
  • Contact

Daily Archives: May 22, 2018

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Planning to Transition a Family Business

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

There are many aspects you as a business owner need to consider, plan, and prepare for. The number of these aspects increases when thinking about what you want the business to be in the future. Do you want to keep your business in your family? Are you sure the steps you’re taking now will allow…

3 Most Important Changes to Washington LLCs in 2016

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

At the start of 2016, laws for Washington limited liability companies (“LLC”s) went through some major changes. While there were numerous revisions to the law that we enacted, these are the top three changes to the default rules I want you to be aware of if you are currently a member / owner of an…

Introducing “Digital Assets” Legislation

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

For those that engage any financial transactions online or use social media, there are new laws going into effect you’ll want to know about, known as “Digital Assets” legislation.  These laws allow executors of estates and other agents access to a deceased person’s online records.  Digital asset laws are needed to identify the accounts the…

The Top 4 Scenarios that Can Sink an Estate Plan

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

  When one of our loved ones passes, we feel many emotions. Grief, pain, sadness, and heartache to name a few. Another common emotion is tension. It can be felt in many situations and interactions with those closest to us. Here are four subjects involving family and close friends that can potentially sink an otherwise…

Be Careful with your Business by Being Wary of Equal Ownership Splits

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

While setting up a partnership or multi-member LLC, each partner or member having equal ownership in the entity makes a lot of sense. Even though the partners may be doing different work in different capacities (i.e., one person creates the product, one person does the marketing, one person provides the capital, etc.), it’s still understood…

Final Beneficiary Designation

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

Just Who is the Beneficiary? Determining the beneficiary of a retirement account or life insurance policy of a deceased person can be challenging, but it’s easier than you think. To prevent any confusion, it’s crucial you know about what benefits get passed on and to whom.  There continues to be perplexity about these matters for…

Income Tax Concerns with Receipt of Stock Grants

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

I have a client that wants to grant stock to his employees in order to “incentivize” them to work harder for the company.  However, there are particular tax issues that not only the employer but the employee need to be aware of when they receive their stock grant.  The following article addresses those concerns. Contractors,…

Asset Protection of Intellectual Property

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

I’m pretty sure everyone has ideas – What should I do today? What’s for dinner tonight? What’s the best way to get to work this morning? For everyone, there’s a “laundry list” of ideas every day. But are those ideas “assets”? Thomas Edison invented the lightbulb. Alexander Graham Bell invented the telephone Henry Ford invented…

Estate Planning during Divorce

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

Estate plans prepared for married couples will vary in complexity and detail but generally follow the same theme: The revocable trust or will typically provides that upon the death of the first spouse, the surviving spouse will not only serve as trustee and executor, but will also receive most if not all of the deceased…

Bitcoin and What it Means for You (Tax-Wise)

UncategorizedBy slosson@outlook.comMay 22, 2018Leave a comment

Yes, “Bitcoin” is booming, but most people don’t understand what it really is. Basically, Bitcoin is a type of “virtual currency” and is one of the most popular of its kind. While it is still gaining acceptance among the general population, virtual currency like bitcoin can be used to buy goods from many different vendors,…

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