Insights on Estate Tax Changes and Estate Planning

The topic of estate taxes has garnered a lot of attention lately, especially as we approach a new presidential election.  In addition to the Biden administration’s many estate tax proposals, one of the main topics of discussion is the potential sunset of the current federal estate tax exemption beginning in 2026.  Many people are concerned about how these changes will affect their own estate planning.

Is it Ever Too Early to Create an Estate Plan?

Life can get busy. With relationships, kids, jobs, bills, and pets, it can be easy to put off thinking about estate planning, especially when you are young and healthy. In the not-so-distant past, estate planning was thought of as something only the wealthy needed to manage large estates. This misconception has led many to suffer the unfortunate consequences of being unprepared in the case of an accident, medical crisis, tragedy, or early death.

Overview of Washington State Capital Gains Tax

Governor Inslee signed Washington’s new capital gains tax into law on May 4, 2021. It becomes effective January 1, 2022 for capital gains on or after that date.

Estate and tax changes under the Biden Administration

With Democrats now controlling the House and the Senate being equally divided (with Vice President Harris having the tie breaking...

Opinion: Is out-of-state property subject to Washington estate tax?

Is out-of-state property subject to Washington estate tax?