A financial advisor in Seattle, Washington, Geoffrey H. Garrett has years of experience as an attorney and beyond. In 2016, Geoff Garrett began applying his prior experience as by offering estate planning and trust administration services to his clients. Though seemingly daunting, small business law is an important subject for a prospective small business owner to know.
In general, business law refers to multiple fields. Business law pertains to laws involving contracts, taxes, intellectual property, and labor and employment. Staying informed regarding business law will help you avoid costly penalties, and take advantage of any legal advice you do receive most effectively. One important aspect of business law you should know is contract law. A contract is only binding if all parties understand its contents and agree to it. This is why you need an attorney to help you examine it and discuss its contents with other party’s attorneys. An oral contract is as binding as a written one, but an oral contract cannot be used in certain circumstances. You also need to keep intellectual property concerns in mind. If you do not file patents or trademarks for your logo, technology, or services, other companies can use them without repercussions. Consult an attorney specialized in intellectual property law to determine what, if any, of your goods and services can be protected with a trademark. Small business law also governs the customer-facing aspects of the business, like how the business protects customers’ data. You need to create a clear privacy policy that explains how your business will secure customer data, and if you share that data with other entities, how and why you will do so. Invest in antivirus software and other cybersecurity measures, and back up your critical files so that you are prepared for whatever may happen, whether a data breach or natural disaster.
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Retired Washington-based attorney Geoffery Garrett specialized in trust, trust administration, estate planning, and probate. Mr. Garrett is also a retired USAF and United Airlines Pilot. Passionate about cycling, Geoffrey Garrett is a member of the Cascade Bicycle Club.
The Cascade Bicycle Club is a national biking community of more than 8,500 cyclists. The organization's origins date back to July 1970 when two young brothers, Mike and Rick Quam, organized a public conference to explore riding in the Puget Sound region. The Quam brothers, sons of a trail advocate, identified a need for a bicycle club that would conduct not only enjoyable group rides but also encourage the construction of bicycle trails in Washington. Thirty people attended the first public meeting, and together they developed the club to 300 members in just two years. Chilly Hilly and the Burke-Gilman Trail were two early accomplishments of the Cascade Bicycle Club. STP and RSVP, two renowned bike races, were also created by the volunteer-led group in the 1970s and 1980s. Cascade Bicycle Club saw tremendous growth and expanded into cycling education in the 1990s and 2000s, thanks to outstanding leadership and competent personnel. The organization's size and influence grew even further throughout the 2010s. With more than 8,500 members, 250 volunteers, and 24 employees, the Cascade Bicycle Club has grown into a force in event production, cycling education, and activism in the decades since that first meeting. A financial advisor at Erickson Wealth and Tax Management and an attorney in private practice, Geoffrey H. Garrett focuses much of his work on estates and trusts. Geoffrey “Geoff” Garrett not only assists with estate planning and probate matters, but also advises clients on trust administration processes. The first part of this process involves properly notifying beneficiaries of a trust.
Nearly every state in the United States has specific rules regarding how and when a successor trustee, which is the person who takes over the trust after the settlor passes, must let beneficiaries know about a trust. Typically, notification letters must be sent out 30 to 60 days after the settlor passes away. The exact deadline varies by state, so it’s important to be aware of the local rules. Within this notification letter, successor trustees must tell beneficiaries about the irrevocable part of the trust and inform them that the successor trustee has control of the assets contained in the trust. Beneficiaries need the name and address of the successor trustee, along with an indication that the successor trustee will distribute assets as soon as possible. Such basic information does not raise unreasonable expectations among beneficiaries. Before trust assets can be distributed, the successor trustee must determine what assets are contained in the trust and pay off debts and taxes. This process takes a variable amount of time, so it’s best to not give beneficiaries a specific date or timeline when they will get their assets. A graduate of the University of California at Davis, Geoffrey “Geoff” H. Garrett is an attorney and financial advisor with experience in estates and estate planning, trusts and trust administration, and probate. In his free time, Geoffrey Garrett participates in the Cascade Bicycle Club, which operates the Pedaling Relief Project.
In 2020, the Cascade Bicycle Club started the Pedaling Relief Project to assist families and individuals who lost income due to the pandemic. The project relies on volunteer cyclists who deliver food from local food banks to families in Seattle. The volunteers also collect food from grocery stores for local food banks, in addition to restocking the project’s Little Free Pantries, which provide assistance at the neighborhood level. So far, the project’s volunteers have made more than 2,500 trips and traveled over 7,100 miles to deliver much-needed assistance. By providing assistance via bike, the Pedaling Relief Project’s volunteers have kept nearly 4,000 pounds of carbon dioxide out of the atmosphere. To learn more about the project, visit Cascade.org/rides-and-events/pedaling-relief-project. |
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