News Author: Teresa Tallarita
New Washington Estate Tax Law Raises Exemption, Hikes Rates for Wealthy
Since 2018, estate planning legislation in Washington has remained stagnant. Increases in our legislated estate tax exemption rate had been tied to a Consumer Price Index that no longer existed, and the legislature largely ignored the issue. Recently, the Washington State Legislature finally turned an eye to addressing the issue and enacted a bill which
Estate Planning for Young Adult Children
The job of parenting can be consuming with the drive to protect children in all circumstances, including the unthinkable. However, the topic of estate planning for children still looms large on the mind of most parents. Estate planning clients of young-adult children often express concerns about ensuring their children are cared for in the event
Avoid the Estate Planning Exemption Cliff: Plan to Take Advantage of the Current Exemption Before it Expires
In an effort to provide Americans with various forms of tax relief, in 2017 Congress enacted the Tax Cuts and Jobs Act (“Tax Act”). This act provided tax reductions in many different categories, but one of the most significant was that it nearly doubled the Estate Tax and Lifetime Gifts Exemption (“Exemption”). However, these tax
Estate Planning for the Modern Global Family
Estate planning tends to be a topic that overwhelms most people. It can be further complicated for modern-day global families whose lives include international nuances. For example, when one spouse is not a U.S. citizen, certain legal considerations come into play that can impact your planning strategies. Further, more and more families have international beneficiaries