A credit shelter trust, a bypass or exemption trust, is a type of trust used in estate planning to reduce the amount of federal or Washington estate tax owed by a deceased person's estate. Washington state has a state-level estate tax with an exemption amount of $2,193,000 per person (as of 2023). The federal estate [...]
One thing we've found when it comes to the probate process in Washington State is that there are quite a few people who either don't understand it or simply don't know specifics about how it works. We put a great deal of emphasis on client education because we believe a better informed client is one [...]
Before I answer your question, let me say that having a solid will that outlines how you want your estate handled upon your passing is a good idea. It helps to ensure your wishes are followed, and it can make the time after your passing easier on your heirs. That being said, it is wrong [...]
Are your loved one's belongs subject to probate administration upon their passing? Any of this property would be considered Probate Estate and would include ALL property that is included in the probate administration. What Does This Include? Non Physical Assets - banking assets, bonds, CDs, and other securities Physical Assets - houses, property, jewelry, furniture, [...]
