Corporate & Business Law
LeSourd & Patten believes in small business and that a small business owner should have the opportunity to succeed. Our attorneys assist clients and businesses in selecting the appropriate ownership structure for their business, the advantages and disadvantages, and the associated tax liability, with an emphasis on minimizing taxes. Collectively, the members of our team have over 100 years of experience in forming corporations (profit and nonprofit), limited liability companies (LLCs), and partnerships, with an emphasis on professional service corporations and LLCs, as well as corporate governance and compliance (daily operations advice). In addition, our attorneys can assist you with the sale of your business or professional practice or with the purchase of a business or practice. Our attorneys can also advise you on employee benefits and executive compensation, qualified retirement plans, wealth transfer, and other planning for the business owner.
Probate & Trust Administration
The most important consideration is that the survivors are taken care of as the decedent wishes; however, estate taxes can be a heavy burden on heirs and beneficiaries. Sometimes what appears to be a simple path of dividing property can have big tax consequences for the next generation. We assist clients in minimizing both the expense and taxes of administering an estate. We prepare estate tax returns and handle estate tax audits with the IRS and the state of Washington both for our clients, and for the clients of other lawyers who refer this work to us. We can also give guidance about tax impacts of transferring IRAs and employment benefits.
Additionally, we regularly assist where taxes are not a primary concern, e.g. processing wills, community property agreements, and trusts (which may avoid court ordered probate). We help transfer real estate and other assets to the designated beneficiaries, work to make estate sales go smoothly, and help process claims from creditors. We are often called on to help with trust funding decisions and disclaimers. Where situations have changed from when the original estate planning documents were signed, we help families modify existing trusts to clarify and conform to the family’s interests.