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Author: Kaity Perez

29Oct 2024

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

2025 Changes to Federal Gift and Estate Tax Exemption and Annual Gift Tax Exclusion

  • Oct 29, 2024
  • Kaity Perez
  • Estate Planning
  • Add a comment

The IRS recently issued Revenue Procedure 2024-40 announcing increases to the federal estate and gift tax exemption and the gift tax annual exclusion for the 2025 tax year, among numerous adjustments to other tax provisions. The 2025 tax law changes…

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3Jun 2024

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

Dangers of Online Estate Planning Forms

  • Jun 3, 2024
  • Kaity Perez
  • Estate Planning
  • Add a comment

Although you may believe your estate plan should be simple, there are a number of issues that can arise if your estate planning documents are not drafted correctly. Many of those issues are difficult and costly to resolve following your…

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10Nov 2023

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

New Strategy Soon Available for 529 Accounts

  • Nov 10, 2023
  • Kaity Perez
  • Estate Planning
  • Add a comment

Many people use 529 accounts as part of their estate and financial plan to support their children’s education. However, it is not always certain whether children will use those funds or not (for example, the funds may not be used…

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16Feb 2023

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

Possible Change to Washington State Estate Tax Regime

  • Feb 16, 2023
  • Kaity Perez
  • Estate Planning, Washington State Law
  • Add a comment

Co-author: Ryan Montgomery, Partner - Montgomery Purdue PLLC   On February 8, 2023, House Bill 1795 was introduced to the 69th session of the Washington State legislature, which proposes substantial changes to the Washington State estate tax rate structure. If…

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14Feb 2023

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

Possible Increase to Washington State Estate Tax Exemption Amount

  • Feb 14, 2023
  • Kaity Perez
  • Estate Planning, Washington State Law
  • Add a comment

The Washington State estate tax exemption is currently $2.193 million. The exemption amount is meant to be adjusted for inflation, but it has not changed since 2018. That is because the inflation adjustment is tied to a Washington law that…

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28Nov 2022

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

Portability Only Estate Tax Returns

  • Nov 28, 2022
  • Kaity Perez
  • Estate Planning, Washington State Law
  • Add a comment

The federal estate tax exemption is currently $12.06 million per taxpayer. However, in 2026, the exemption amount is set to decrease to $5 million, indexed for inflation (estimated to be between $6-$7 million). The current high threshold means many estates…

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15Jun 2021

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

Tax Impacts of the American Families Plan

  • Jun 15, 2021
  • Kaity Perez
  • Estate Planning
  • Add a comment

President Joe Biden recently announced the American Families Plan (“the Plan”), which is summarized in the Fact Sheet provided by the President. The Plan is a proposal that has not passed Congress. If adopted, it would make several changes to…

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6Apr 2020

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

IRS Extends Income and Gift Tax Deadlines Due to COVID-19

  • Apr 6, 2020
  • Kaity Perez
  • Announcements, Estate Planning
  • Add a comment

The IRS extended the deadline to file individual income tax returns (Form 1040) for all taxpayers from April 15, 2020 to July 15, 2020 in response to the current coronavirus pandemic.

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10Feb 2020

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

Potential Impact of the Presidential Election on Your Estate Plan and Financial Plan

  • Feb 10, 2020
  • Kaity Perez
  • Estate Planning, Finance
  • Add a comment

  Co-author: James Nevers, CFP ® - Soundmark Wealth Management Your estate plan and financial plan should be given careful thought before the 2020 elections.  The Senate currently is made up of 53 Republicans, 45 Democrats, and 2 independents.  There…

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9Jan 2020

Kaitlyn Perez Seattle Attorney

Author Kaity Perez

Washington Adopts Greener Methods to Dispose of Human Remains

  • Jan 9, 2020
  • Kaity Perez
  • Estate Planning
  • Add a comment

The cremation process has a significant carbon footprint, as does traditional burial. However, Washington residents will soon be able to dispose of human remains using more environmentally friendly methods.

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