The Washington State Legislature is considering two bills affecting our State estate tax. Hearings were recently held in the Senate on SB 5405 and in the House on HB 2019.

The Washington State Legislature is considering two bills affecting our State estate tax. Hearings were recently held in the Senate on SB 5405 and in the House on HB 2019. These bills, if signed into law by Gov. Ferguson, would increase the State estate tax exemption amount, change the rate of tax, and update the inflation adjustment for the estate tax exclusion amount. However, according to at least one Democratic legislator and one Republican legislator, neither bill is likely to make it out of committee and both are essentially dead. So it looks like Washington will continue to tax estates with a gross value of $2.193 million or more at the current rates, at least through 2026.

If you have questions about estate taxes and how they might affect your estate plan, give us a call at 253.858.5434 to set up an appointment today.