Recent News

The Tax Cuts and Jobs Act (TCJA), enacted in December 2017, introduced significant reforms that affected various aspects of federal taxation, including changes to estate and gift tax provisions. One of the most notable provisions was the temporary increase in the exemption amounts for federal estate and gift taxes. However, these increases are set to… Read More

One of the primary goals of estate planning is to establish protective mechanisms for beneficiaries with varying needs. For instance, a young couple with children may opt for a trust and appoint a reliable trustee to manage assets until the children reach an age where they can responsibly handle their own finances. Alternatively, some individuals… Read More

If you are the primary breadwinner in your family and have purchased a life insurance policy to provide for your loved ones in the event of your untimely demise, you may be wondering whether the proceeds from that policy could expose your estate to estate taxes. Depending on the policy, these proceeds can range from… Read More

As we are entering into June 2024, a number of new laws enacted this year will soon become effective, including SHB 2347 concerning adult family home information on the Department of Social and Health Services website. This bill was signed by the Governor on March 25, 2024, and will become effective on June 6, 2024.… Read More

Have you ever wondered whether and how much you are entitled to from your deceased spouse’s estate if they have left little or nothing to you? As a surviving spouse (or a surviving state registered partner, or a surviving dependent child), you are entitled to an award for family support, which is also called basic… Read More

Since the Uniform Electronic Wills Act took effect on January 1, 2022, allowing a Will to be executed in electronic form, the Washington State Legislature is further pondering during this year’s legislative session on the possibility of having other estate planning documents to be executed in electronic form.  The Senate Bill 5787 (2023-24) (now, the… Read More

While the WA Legislature is currently in regular sessions, multiple bills are under review for consideration, and, once enacted, may change current practices to estate planning and probate. This blog will discuss general bullet points on House Bill 1867 relating to eliminating the estate tax filing requirement involving a qualifying familial residence. In general, if… Read More