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
The short answer is yes, but there are requirements. A person who is legally entitled to control the disposition of human remains by scattering may do so without a permit. That person could be the person whose ashes are involved if they signed a document, properly witnessed, that expressed their wishes. If that person did… 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
Federal law imposes a tax on gifts made in excess of a specific amount in a calendar year to a specific recipient (known as a “donee”). That tax is usually paid by the donor (the giver) of the gift. The specific amount is known as the annual gift exclusion. The annual gift exclusion is $17,000… Read More
The “basic exclusion amount” is the amount of a deceased person’s estate that passes free of federal estate tax. This differs from the unlimited marital deduction that applies when one spouse dies and transfers all of his or her interest in property to the surviving spouse. There is a basic exclusion amount for federal estate… Read More
Washington State Business and Real Estate Law Lawyer Babak Shamsi | 11/14/2023
We often do not want to plan for death. There are certainly plenty of more uplifting things to do. While estate planning serves a critical role in self-protection as well as protection of one’s family, it often falls to the side as a lower priority endeavor because of its inherent morbid nature. It should not.… Read More