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Tag: estate tax

14Feb 2023

Author Kaity Perez

Possible Increase to Washington State Estate Tax Exemption Amount

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

Author Kaity Perez

Portability Only Estate Tax Returns

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

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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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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10Feb 2020

Author Kaity Perez

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

  • Feb 10, 2020
  • Kaity Perez
  • Estate Planning, Finance
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  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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29Nov 2018

Author Kaity Perez

Donor Advised Funds

  • Nov 29, 2018
  • Kaity Perez
  • Estate Planning
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If you are interested in making charitable contributions without the complexity of establishing a private foundation or a charitable trust, you may consider giving through a donor-advised fund (DAF). What is a Donor Advised Fund? Essentially, a DAF is an…

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10Jul 2018

Author Kaity Perez

Recent Washington Case: Estate of Rathbone

  • Jul 10, 2018
  • Kaity Perez
  • Estate Planning, Trust & Estate Litigation and Dispute Resolution
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In Matter of Estate of Rathbone, the Washington State Supreme Court held that the trial court did not have the authority to construe an ambiguous provision in a non-intervention Will (1). Rathbone involves a dispute among three brothers (Todd, Glen,…

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4Dec 2017

Author Kaity Perez

Comparing the Tax Reform Plans in the House and the Senate

  • Dec 4, 2017
  • Kaity Perez
  • Business Law, Estate Planning, Real Estate Law
  • Add a comment

On November 16, 2017, the House of Representatives passed the “Tax Cuts and Jobs Act” (H.R. 1) (the “House Bill”) with a 227–205 vote. The Senate’s version of the “Tax Cuts and Jobs Act” (the “Senate Bill”) has not been…

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26Jul 2017

Author Ryan Montgomery

The Estate Planner’s Guide to the “Deal”

  • Jul 26, 2017
  • Ryan Montgomery
  • Business Law, Estate Planning
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The business attorney’s focus when advising a client selling a business is necessarily the transaction itself. Primary considerations typically include maximizing the purchase price, reducing the income and other (e.g., real estate excise) taxes resulting from the transaction, and minimizing…

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2May 2017

Author Brady Somers

Changing Your Residency to Avoid Washington Estate Tax

  • May 2, 2017
  • Brady Somers
  • Estate Planning
  • Add a comment

For Washington residents facing the possibility of a sizable estate tax bill, establishing residency in a different state may be worth considering, particularly for those who already have a second residence in another state. Establishing residency in another state may…

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