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All Estate Planning

28Mar 2022

Author Alan & Ryan Montgomery

The Joint and Survivor Grantor Trust and the S Election

  • Mar 28, 2022
  • Alan & Ryan Montgomery
  • Business Law, Estate Planning, Washington State Law
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Following the death of the first spouse, a joint and survivor grantor trust remains an eligible S corporation shareholder for which no electing small business trust or qualified subchapter S trust election is required until after the death of the surviving spouse.

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22Dec 2021

Author Allison Int-Hout

2022 IRS Increases to Federal Transfer Tax Exemption and Annual Exclusion for Gifts

  • Dec 22, 2021
  • Allison Int-Hout
  • Estate Planning
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In recently issued Revenue Procedure 2021-45, the IRS announced calendar year 2022 increases to the federal estate and gift tax exemption, and to the gift tax annual exclusion.  The 2022 federal estate and gift tax exemption has been increased to…

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20Dec 2021

Author Matthew Hart

Washington to Allow Electronic Wills Beginning January 1, 2022

  • Dec 20, 2021
  • Matthew Hart
  • Estate Planning
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Earlier this year, Governor Jay Inslee signed into law Senate Bill 5132.  Among various other changes to Washington trust and estate law, the Bill adopts the Uniform Electronic Wills Act (the “Act”), which allows Washingtonians to create valid digital Wills…

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15Jun 2021

Author Kaity Perez

Tax Impacts of the American Families Plan

  • Jun 15, 2021
  • Kaity Perez
  • Estate Planning
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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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15Jun 2021

Author Allison Int-Hout

Washington Legislators Pass New Capital Gains Tax

  • Jun 15, 2021
  • Allison Int-Hout
  • Estate Planning, Washington State Law
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The Washington Legislature passed a new state capital gains tax on April 5, 2021. Governor Inslee signed the bill, Senate Bill 5096, into law on May 4, 2021. The new law imposes a 7% tax on gains exceeding $250,000 in…

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1Feb 2021

Author Allison Int-Hout

2021 Increase to Federal Transfer Tax Exemption

  • Feb 1, 2021
  • Allison Int-Hout
  • Estate Planning
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The IRS increased the 2021 federal estate and gift tax exemption to $11,700,000, up from $11,580,000 in 2020.  The IRS announced the increase, along with a variety of other adjustments, in Rev. Proc. 2020-45. This increase to the federal exemption…

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22Oct 2020

Author Ryan Montgomery

Retirement Account Planning Before and After the SECURE Act

  • Oct 22, 2020
  • Ryan Montgomery
  • Estate Planning
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Retirement accounts are often the most significant asset in an estate, yet in most cases, these assets pass outside the terms of our clients' testamentary documents. As a result, planners must take particular care to coordinate beneficiary designations with overall…

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6Apr 2020

Author Kaity Perez

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

  • Apr 6, 2020
  • Kaity Perez
  • Announcements, Estate Planning
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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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26Mar 2020

Author Allison Int-Hout

New SECURE Act May Significantly Impact Existing Estate Plans

  • Mar 26, 2020
  • Allison Int-Hout
  • Estate Planning
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The SECURE Act may impact existing estate plans, particularly for people who have named a trust as beneficiary of a retirement account.

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25Mar 2020

Author Ryan Montgomery

The Estate Planning Group is Available During Coronavirus Pandemic

  • Mar 25, 2020
  • Ryan Montgomery
  • Announcements, Estate Planning
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We understand that the coronavirus outbreak is a source of high anxiety. The estate planning attorneys at MPBA have transitioned to remote operations during the stay-in-place order to ensure we meet our clients’ needs. We remain available to assist during this challenging…

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Recent Posts

  • The Joint and Survivor Grantor Trust and the S Election
  • New Law Prohibits Mandatory Arbitration for Sexual Assault and Harassment Claims
  • An Unregistered Contractor Can’t Commence a Lawsuit to Recover for Unpaid Work
  • Washington Has a New Nonprofit Corporation Act – Are You Prepared?
  • 2022 IRS Increases to Federal Transfer Tax Exemption and Annual Exclusion for Gifts

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