January 2, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
Happy New Year everyone! January is one of my favorite times of the year, filled with new energy, goals, dreams, and conviction.
I look forward to presenting on estate planning issues at the upcoming Moneywise Women Conference, to be held on Saturday, January 19, 2013, from 9:00 a.m. to 4:00 p.m. at North Seattle Community College. These popular conferences create excellent opportunities for women to network and attend classes on a variety of financial topics including retirement planning, investing, improving your credit score, and developing a more thorough understanding of your cash flow and budgeting. For further information and to register, please contact my office or visit: Money Wise Women.
In addition, on February 1st, I will be speaking at a NW Seattle PEPS group regarding estate planning issues. And on February 9th, I will once again team up with Debbie Whitlock of the Femme Finance radio show on 1150 a.m. radio, to discuss legacy and estate planning at the Northwest Chinese School.
Lisa Vargo will be out on vacation through January 7th. In January, our office will be closed on the 21st in observance of the Martin Luther King Day holiday. I will be out of the office on vacation from January 22nd – January 25th. I will have limited availability during this period. Lisa will be fully available to provide assistance during this time. In addition, our office will be closed on February 18th for President’s Day.
As you know, Washington recently approved Referendum 74 legalizing gay marriage. The new law took effect on December 6th. This law may impact your estate planning, particularly if you are currently in a state registered domestic partnership or if you recently got married. The Washington marital deduction for estate taxes was previously scheduled to extend to domestic partners on January 1, 2014, but will now be available immediately to all married couples regardless of gender. If you have questions, please contact my office.
“The secret of success is consistency of purpose.” Benjamin Disraeli
February 1, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
On January 19th, I spoke on estate planning issues at the Moneywi$e Women Conference at North Seattle Community College. These popular conferences create excellent opportunities for women to network and attend classes on a variety of financial topics including retirement planning, investing, improving your credit score, and developing a more thorough understanding of your cash flow and budgeting. The conference was well attended, and I was pleased to speak with many engaged, smart women about their estate planning concerns.
Today, I spoke with a NW Seattle PEPS group regarding estate planning. I enjoy connecting with new parents, and helping ensure their families are well prepared through the nomination of guardians and establishment of testamentary trusts for their children.
On February 9th, I will once again team up with Debbie Whitlock of the Femme Finance radio show (1150 am), to discuss legacy and estate planning at the Northwest Chinese School.
On February 22nd, I will participate as part of a panel discussion for a Washington Bar Association continuing legal education course. We will focus on the ethics of attorneys’ use of social media.
On March 8th, I look forward to teaching at a continuing legal education course for the King County Bar Association entitled “Bridging the Gap.” This course is designed to train new lawyers in basic practice areas. I will be speaking on how to advise clients on business entity selection and formation issues, as well as an overview on what it’s like to practice business law. I’m excited to help train tomorrow’s lawyers!
Please note that our office will be closed on February 18th for President’s Day. In addition, I will be out of the office on vacation from March 11th through March 15th. Lisa Vargo will be available during this period.
“The only difference between dreams and achievements is hard work.” Mayor Chris Bollwage
March 1, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
On February 1st, I spoke with a NW Seattle PEPS (“Program for Early Parent Support”) group regarding estate planning. PEPS is a wonderful group – I encourage new parents to check it out! I enjoyed chatting with new mothers, and addressing their concerns and questions to ensure their families are well prepared should the worst happen. The key issues include the nomination of guardians and establishment of testamentary trusts for their children. I encourage all new parents to work with counsel to either get a Will for the first time, or to absolutely update what they’ve done previously!
On February 9th, I teamed up with Debbie Whitlock of the Femme Finance radio show (1150 am), to discuss legacy and estate planning at the Northwest Chinese School. Since the audience consisted entirely of parents, and many attendees were recent immigrants, we enjoyed working through the questions concerning how our U.S. estate planning and probate system works.
On February 22nd, I participated in a panel discussion for a Washington Bar Association continuing legal education course, focusing on the ethics of attorneys’ use of social media. Some lawyers shun social media. Others use it inappropriately by degrading other lawyers and judges, or carelessly jeopardizing client confidentiality. I believe that lawyers can actively participate in social media, while employing a strong sense of professionalism and ethics! I liked being a part of this panel discussion.
On March 8th, I look forward to teaching at a continuing legal education course for the King County Bar Association entitled “Bridging the Gap.” This course is designed to train new lawyers in basic practice areas. I will guide the attorneys through several mock scenarios involving business law issues to help them increase their skills in analyzing complex issues and communicating well with their clients. It’s an honor to be able to train future business lawyers!
I will be out of the office on vacation from March 11th through March 15th. Lisa Vargo will be available during this period to assist you.
“If the mind of man can believe, the mind of man can achieve.” Napoleon Hill
April 1, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
On March 8th, I spoke at a continuing legal education course for the King County Bar Association entitled “Bridging the Gap.” This annual course trains new lawyers in basic practice areas. I focused on business law, guiding the attorneys through several mock scenarios. I wanted to help these new attorneys increase their skills in analyzing complex issues and communicating well with their clients. The audience kept raising their hands, with so many questions and comments! I felt excited to see these new lawyers be so engaged and interested in pursuing a career in business law. It’s an honor to help train them!
Last Friday afternoon, I “played hooky” for a few hours and had a photo shoot with Tara Gimmer Photography. What fun! I found the location quite interesting – a former prison tucked away in the International District near Uwajimaya. (Yes, I do understand the humor of a lawyer being photographed in a prison!). The current photos on my website are five years old, and in need of being refreshed. I look forward to posting some new looks, and am greatly appreciative of Tara for her fine work!
Next weekend, I’m excited to join my office for dinner at Joule in Seattle. Since we work virtually, we don’t get to actually be in the same room together very often! So we look forward to enjoying some face time, and hopefully some good food as well.
I will be out of the office on vacation from May 6th through May 10th. Lisa Vargo will be available to assist you, although Lisa will be out on May 10th as well. In addition, our office will be closed on May 27th for the Memorial Day holiday.
“I am not judged by the number of times I fail, but the number of times I succeed, and the number of times I succeed is a direct proportion to the number of times I fail and keep trying.” Tom Hopkins
May 1, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
On April 6, my office enjoyed a fun dinner at Joule in Fremont! Our core team, including Lisa Vargo, Andrea Logan and Kristen Larsen, takes pride in our set up as a virtual law firm with digital files. In addition to providing work autonomy for us, it benefits our clients through its efficiency and resulting cost savings – which reduces fees. However, I must confess, I enjoy seeing my team in person once in awhile! We had a wonderful time catching up. And Joule’s modern Korean cuisine was both creative and yummy!
On a less positive note, in April my desktop computer “blew up” with an audible pop, also taking out a monitor in the process. This mishap served as a great reminder for me, and hopefully all of you (especially my business clients!) to both continually back up your data and have a plan in place to cover these sorts of technology problems. With my laptop serving for a few days as a desktop substitute, and all of our client information fully backed up by Carbonite, I lost no data and minimal time as result of the mishap. Thank goodness!
On June 18th, I’m excited to participate for the seventh time as a panelist for the Washington State Bar Association’s (WSBA) continuing legal education program “Lincoln on Professionalism” in Seattle. The program focuses on ethical issues faced by Abraham Lincoln in his law practice, and teaches attorneys how Lincoln’s straightforward, practical values regarding ethics and professionalism still apply today. It’s an inspiring program, and I’m always grateful to participate.
As a Board member of Tennis Outreach Programs, I ask that you consider donating as part of the Seattle Foundation’s “Give Big” program on May 15th! Please see the additional information provided, and thanks in advance for your support!
I will be out of the office on vacation from May 6th through May 10th. Lisa Vargo will be available to assist you, although Lisa will be out on May 10th as well. In addition, our office will be closed on May 27th for the Memorial Day holiday. In June, I will be out June 3rd – June 7th, with Lisa serving as back up!
“To conquer without risk is to triumph without glory.” El Cid
June 1, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
On June 18th, I’m excited to participate for the seventh time as a panelist for the Washington State Bar Association’s (WSBA) continuing legal education program “Lincoln on Professionalism” in Seattle. The program focuses on ethical issues faced by Abraham Lincoln in his law practice, and teaches attorneys how Lincoln’s straightforward, practical values regarding ethics and professionalism still apply today. Fellow panelists include King County Superior Court Judge Catherine Schaffer, WSBA Professional Responsibility Counsel Jeanne Marie Clavere, David Leroy (the former Attorney General and Lt. Governor of Idaho), and Frank Williams (a former Chief Justice of the Rhode Island Supreme Court). Both Mr. Leroy and Judge Williams are Lincoln scholars, who add much historical context to the panel. It’s an inspiring program, and I’m always grateful to participate!
I’m happy to announce that last week I was elected to be on the Executive Board of Tennis Outreach Programs. As many of you know, I played junior tennis, and was ranked sectionally in our Intermountain Section (Idaho, Wyoming, Montana, Colorado, Nevada and Utah). I then went on to play college tennis for Idaho State University. Tennis taught me focus, grit, competitiveness, sportsmanship, and the value of a high work ethic. Tennis Outreach Programs creates similar learning opportunities for children by giving them a safe environment to learn tennis fundamentals, receive mentorship, and do their homework. No child is turned away from our programs due to a lack of financial resources. We have summer programs available, so please let me know if you have children who might be interested in signing up!
I will be out of the office on vacation from June 3rd – June 7th. Lisa Vargo will be able to assist you during this time. Lisa, in turn, will be out of the office from June 28th through July 22nd for her annual vacation to Idaho! I will be out of the office after Lisa returns, July 29th through August 2nd.
“Thoughts and ideas are the source of all wealth, success, material gain, all great discoveries, inventions and achievements.” Mark Victor Hansen
July 1, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
June was certainly a newsworthy month from an estate planning and business law standpoint! On June 10th, the Seattle City Council voted unanimously to limit the ability of employers to make inquiries regarding a job applicant’s criminal record. In addition, on June 13th Governor Inslee signed “emergency legislation” regarding our Washington estate tax which overrules a Washington Supreme Court decision known as “Bracken,” increases the estate tax rates to a top rate of 20%, and provides a qualifying small business deduction. Please let me know if you have questions regarding either of these topics!
On June 18th, I participated for the seventh time as a panelist for the Washington State Bar Association’s (WSBA) continuing legal education program “Lincoln on Professionalism” in Seattle. The program focuses on ethical issues faced by Abraham Lincoln in his law practice, and teaches attorneys how Lincoln’s straightforward, practical values regarding ethics and professionalism still apply today. Fellow panelists include King County Superior Court Judge Catherine Schaffer, WSBA Professional Responsibility Counsel Jeanne Marie Clavere, David Leroy (the former Attorney General and Lt. Governor of Idaho), and Frank Williams (a former Chief Justice of the Rhode Island Supreme Court). Both Mr. Leroy and Judge Williams are Lincoln scholars.
Thanks so much to all of you who donated to Tennis Outreach Programs (TOPs) during the Seattle Foundation’s Big Give campaign last month! We did well. I’m proud to serve on the Executive Board of TOPs. I’m also pleased to announce that Bartell Drugs is now including TOPs as part of its “B” Caring Card program, in which 4% of your purchase amount can be contributed to various non-profit organizations. So please be sure to shop at Bartell’s, use your “B” card, and designate TOPs as your non-profit of choice!
Lisa Vargo will be out of the office from June 28th through July 22nd for her annual vacation to Idaho. I will be out of the office after Lisa returns, July 29th through August 2nd.
“You miss 100% of the shots you don’t take.” Wayne Gretsky
August 1, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
Hello, and happy summer! I hope you all are enjoying our spectacular Seattle summer weather.
On August 8, I will again be teaching a continuing legal education course (“CLE”) as part of the Washington State Bar Association’s (WSBA) annual readmission program. This CLE is mandatory for attorneys who were once members of the Washington Bar, had their licenses lapse for a various reasons, and now seek to be readmitted to practice. I will be joining Jeanne Marie Clavere, Professional Responsibility Counsel of the WSBA, to discuss how our ethical rules, known as the Rules of Professional Conduct, govern lawyers’ participation in social media. As many of you know, I am fairly active on Twitter, LinkedIn and Facebook. I enjoy connecting with many of you! Our ethical rules require that professional conduct and protection of client confidentialities also apply to an attorney’s on-line communications and behavior. I’m honored to help train lawyers on these aspects of our ethical rules.
On September 28, 2013, I look forward to speaking once again at the U.S. Small Business Administration’s annual “Biz Fair”! I’ve volunteered for Biz Fair for years by teaching classes on the basics of business law. The entrepreneurs who participate are enthusiastic, engaged, and high energy! For more information, please visit: www.bizfair.org/.
As a member of the Executive Board of Tennis Outreach Programs, I’d greatly appreciate it if you would donate an auction item, big or small, for our November 1st auction! For more information, please contact me.
I will be out of the office on vacation September 2nd (Labor Day) through September 6th, and also on my birthday (September 25th). During this period, Lisa Vargo, Of Counsel, will be available to assist you. Lisa can be reached at lisa@staceyromberg.com. I will also be available on a limited basis.
“People of mediocre ability sometimes achieve outstanding success because they don’t know when to quit. Most men succeed because they are determined to.” George E. Allen
September 3, 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
Hello everyone! I hope you all enjoyed a wonderful Labor Day holiday.
On August 8, I taught a continuing legal education course (“CLE”) as part of the Washington State Bar Association’s (WSBA) annual readmission program. This CLE is mandatory for attorneys who were once members of the Washington Bar, had their licenses lapse for various reasons, and now seek to be readmitted to practice. Specifically, I teamed with Jeanne Marie Clavere, Professional Responsibility Counsel of the WSBA, to discuss how our ethical rules, known as the Rules of Professional Conduct, govern lawyers’ participation in social media. I’m continually honored to help train lawyers on our ethical rules.
On September 8th, I will celebrate the 14th anniversary of starting my own law practice. Thanks so much to all of you for your support, for being such wonderful clients, and for making these years so fun!
On September 28, 2013, I look forward to speaking once again at the U.S. Small Business Administration’s annual “Biz Fair”! I’ve volunteered for Biz Fair for years by teaching classes on the basics of business law. The entrepreneurs who participate are enthusiastic, engaged, and high energy! For more information, please visit: http://www.bizfair.org/.
As a member of the Executive Board of Tennis Outreach Programs (“TOPs”), I’d be pleased if you’re able to attend our November 1st evening of tennis, dinner, and silent and live auctions at the Eastside Tennis Center! It will be hosted by King 5’s John Curley. Please contact me if you’re interested in coming, and/or learning more about TOPs!
I will be out of the office on vacation through September 6th, and also on my birthday (September 25th). During this period, Lisa Vargo, Of Counsel, will be available to assist you. Lisa can be reached at lisa@staceyromberg.com. I will also be available on a limited basis.
“No man ever became great without many and great mistakes.” William E. Gladstone
October 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
Happy October, and welcome to the Inaugural Issue of our newsletter. I hope that you find it interesting and informative. I’ll cover legal issues related to business law, estate planning and probate, as well as occasional news about my office.
I recently published an article in the King County Bar Bulletin, giving some tips for ways to reduce fees and hassles while serving as Trustee or an Executor of an estate. Many of us, perhaps unexpectedly, find ourselves serving in this capacity. For example, if your parents or your spouse dies, you may be called in to help. Part One is reprinted below with permission from King County Bar Association, and additional tips will be forthcoming in next month’s newsletter:
Trust and Estate Administration:
Strategies for Minimizing Stress and Maximizing Results
“A trustee shall administer the trust solely in the interests of the beneficiaries.” -RCW 11.98.078(1). Non-professional fiduciaries serving as personal representatives or trustees often assume their new duties with apprehension. How much time will it take? Will the work be difficult? What if estate heirs or trust beneficiaries start fighting? This article offers 10 straightforward strategies to help you tackle your fiduciary duties in an efficient, legally sound an effective way.
Take Your Fiduciary Responsibilities Seriously
Washington law requires personal representatives, prior to appointment by the court, to “take an oath, … that the duties of the trust as personal representative will be performed according to law.” Similarly, RCW 11.98.078(1) provides, “A trustee shall administer the trust solely in the interests of the beneficiaries.” Serving as a fiduciary is serious business. If you commit errors, fail to promptly fulfill your obligations or engage in inappropriate conduct, you may find yourself in court attempting to justify your misdeeds before a judge, opposing counsel, and disgruntled heirs and beneficiaries.
Keep Meticulous Records
Carefully track all financial transactions related to the estate or trust. Keep copies of all receipts, checks, bank statements, etc. Additionally, keep detailed time records, especially if you expect compensation for performing your duties. If you serve as a personal representative, you will need to prepare an inventory of all assets owned by the decedent. You also may be required to provide a detailed accounting of all estate-related financial transactions. Similarly, as a trustee, you are required to provide detailed reports concerning trust transactions to “all persons interested in the trust.”
By understanding this obligation from the start and meticulously keeping records on an ongoing basis, you will make your job easier down the road.
Use Your Calendar
Serving as a fiduciary takes time. You can do your job more efficiently and effectively if you schedule sufficient time on a monthly basis to perform your duties. Otherwise, you may find yourself dealing with missed deadlines and those angry heirs and beneficiaries.
November 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
Hello, and Happy Thanksgiving! Thanksgiving is my favorite holiday of the year because it focuses on gratitude – and, of course, food! I hope all of you enjoy a safe, peaceful and fun holiday.
As many of you know, I serve on the Board of Directors for Tennis Outreach Programs (“TOPs”). We’re a Washington non-profit, and operate the Eastside Tennis Center in Kirkland. Our mission is empowering youth for lifetime success through tennis, education, fitness and character development regardless of economic circumstances. We had our annual Auction on November 1st, and it was a big success! My office team of Lisa Vargo, Andrea Logan and Kristen Larsen joined in the effort. We appreciated the opportunity to enjoy ourselves while supporting a compelling cause.
October’s newsletter reprinted some tips, from an article I recently wrote, for ways to reduce fees and hassles while serving as Trustee or an Executor of an estate. Part Two is reprinted below with permission from King County Bar Association. Additional tips will be forthcoming in next month’s newsletter.
Trust and Estate Administration:
Strategies for Minimizing Stress and Maximizing Results
Communicate Proactively with Your Attorney and Accountant
Your job description includes engaging with an attorney and an accountant on an ongoing basis to make sure all legal, financial and tax requirements are being met on a timely basis. If you have questions, ask.
Seek to do it right the first time, rather than expending the time, money and needless aggravation involved in fixing errors.
Communicate Frequently with Heirs and Beneficiaries
Heirs and beneficiaries tend to be anxious. They want the money they are entitled to receive, as soon as possible. They may be nervously checking their email inboxes, voice mail and mail boxes on an ongoing basis, waiting to hear from you.
Take good care of them by initiating positive and professional, ongoing communications, developing a sense of rapport and trust. By communicating often, you maximize the likelihood that your fiduciary duties can be performed without accusations and negativity.
Minimize Opportunities for Disputes
Treat all heirs and beneficiaries in a neutral, impartial manner. Whenever possible, communicate with everyone as a group rather than individually. If you notice tensions developing, immediately inform your attorney.
Seasoned estate planning attorneys can provide guidance to resolve disputes quickly and painlessly. Washington’s Trust and Estate Dispute Resolution Act (TEDRA) offers a roadmap for minimizing the time and attorneys’ fees involved in determining disputed matters.
Questions? Please let me know.
We had a GREAT time at the TOPs auction! A few fellow YMCA members joined me in making the “Y” sign & promoting our love of the Y & TOPs!
December 2013
NEWS FROM THE DESK OF STACEY L. ROMBERG
Happy Holidays!
As the year draws to a close, I’m especially grateful to all of you, my clients and colleagues, for your business and support. I’m so fortunate to be able to do what I love each day, and associate with people of such kindness, wisdom and integrity! Thank you.
My October and November newsletters both reprinted tips from an article I recently wrote, discussing ways to reduce fees and hassles while serving as a Trustee or an executor of an estate. Part Three, the final installment, is reprinted below with permission from King County Bar Association.
Strategies for Minimizing Stress and Maximizing Results
Set Apart Trust or Estate Assets from Your Own Assets
Never commingle trust or estate assets with your own assets. Immediately upon your appointment as a trustee or personal representative, work with your attorney to obtain a federal tax identification number for the trust or estate and open a separate bank account. If you expend your own funds on behalf of the estate or trust, be certain you have all your receipts and can fully support any reimbursements.
Respect Confidentialities
Keep all trust and estate information confidential, outside of communications that further trust interests. Confidentiality is a part of your fiduciary responsibilities; careless communications can come back to haunt you.
Avoid Self-Dealing
Any transaction between you and the estate or trust, such as your purchase of real estate from the trust, is self-dealing. Consult with your attorney prior to entering into a transaction of this nature.
Review “The Fiduciary’s Handbook”
You can purchase this helpful resource for a nominal fee from the Estate Planning Council of Seattle.
Questions? Please let me know.
On December 30th, I’m looking forward to moderating a program sponsored by the Washington State Bar Association featuring some of 2013’s best continuing legal education presentations. This perennially popular program covers a full day of educational videos via webcast. I’ll discuss the videos, and answer questions from participants. The diverse topics include business law, probate, community property law, practice management issues, and the Affordable Care Act.
Please enjoy a happy, safe and warm holiday season!
Phone: (206) 784-5305
