Estate planning is essential for Washington residents who want to minimize or avoid estate taxes, which can significantly reduce the value of an inheritance.

Estate planning is essential for Washington residents who want to minimize or avoid estate taxes, which can significantly reduce the value of an inheritance. Washington imposes an estate tax on estates exceeding $2.193 million as of 2024. To avoid or reduce this tax, consider strategies such as gifting assets during your lifetime or setting up a Family Limited Partnership. Another approach is to use the unlimited marital deduction, which allows you to transfer an unlimited amount of assets to your spouse tax-free. Proper planning with an experienced lawyer can help you protect your assets and ensure that more of your wealth is passed on to your heirs rather than the state.

If you have questions about the Washington State estate tax and how to minimize or avoid it upon your death, give us a call at 253.858.5434 to set up an appointment today.