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Estate Planning News
Construction Under Way on SR 14 Hood River Bridge Traffic Signal Installation Project
BINGEN - A traffic signal installation project on State Route 14 on the Washington side of the Hood River Bridge began construction on Monday, September 20, announced the Washington State Department of Transportation (WSDOT).
The project will install a new, three-way traffic signal at the intersection, which will allow traffic enough time to make turns onto State Route 14 without waiting for cross traffic to pass. The signal will improve the existing congestion problems experienced by vehicles coming from Oregon into Washington on the bridge, and it will make left turns from State Route 14 westbound onto the bridge approach easier and safer. The new signal will be controlled by vehicle sensors located in the pavement rather than by a timer, which will help keep traffic flowing. The project also will install approximately 300 feet of concrete median curb along SR 14 on both sides of intersection. WSDOT recently awarded this project contract to the Electrical Construction Company of Albany, Ore., which submitted the winning bid of $188,820.
Construction will occur during the day, Mondays through Fridays. There will be intermittent lane closures with flaggers as needed, but traffic impacts will be minimal. The project contractor is coordinating their work with the Port of Hood River's bridge deck replacement project to avoid additional traffic impacts to motorists using the bridge. Weather permitting, the new traffic signal will be functional by December 2004.
Advance warning signs will be placed ahead of the construction area, and motorists are asked to please slow down and use caution when driving through the work zone.
Give 'em a Brake! Work Zone Safety Facts: It is more likely that a motorist will be killed in a highway work zone accident than a construction or maintenance employee. In Washington, 12 motorists are killed for every WSDOT employee killed and 214 motorists are injured for every WSDOT employee injured. The most common causes of work zone accidents are speeding and inattentive driving. Traffic law violation fines are doubled inside work zones when workers are present (RCW 46.61.527). All motorists must obey the directions of all flaggers or pilot vehicle drivers within the work zone. If you ignore their directions or in any way endanger their lives with reckless driving, you will be charged with a misdemeanor (RCW 46.61.015). State law dictates that all motorists must yield the right of way to any highway construction personnel, vehicles with flashing yellow lights or construction equipment inside a highway construction or maintenance work zone (RCW 46.61.215).
A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.
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Definition:
The value of an estate before the debts are paid. In California Probate statutory attorneys and personal representatives fees are usually calculated based on the gross value of the estate, so that the value of the home is calculated before deducting the amount due on the mortgage.
Incapacity / Incompetent
Definition:
Legally unable to manage one's own affairs due to mental disability. This may be temporary or permanent.
Estate
Definition:
The total of all assets, all debts and other obligations of an individual. At the time of death the total amount of benefits (life insurance, annuity and retirement benefits) to be paid to beneficiaries are often also considered part of the estate for Federal Estate Tax purposes
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