The Internal Revenue Service (IRS) recently announced the 2027 updates for the federal estate and gift tax exemption and the annual exclusion for gifts. However, the Washington state estate tax exemption will not change in 2027. The federal changes (and…
Read MoreThere are many reasons to transfer ownership of real estate to a business entity, such as an LLC, or to a trust. Regardless of why you choose to transfer real estate ownership out of your individual name, you will almost…
Read MoreThe “One Big Beautiful Bill Act,” (OBBBA) which President Trump signed into law on July 4, 2025, enacts an increase in the federal estate and gift tax exemption. Background The federal estate and gift tax exemption is the total amount…
Read MoreThe federal estate and gift tax exemption is scheduled to decrease from the current amount of $13.99 million per person to approximately $7 million per person. Without action by Congress, this change will take effect on January 1, 2026. Background…
Read MoreMany people believe that once they have completed an estate plan, they can check this important item off their to-do list for good. However, while strong estate plans are set up to be as flexible as possible, it is worth…
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