05/29/2026
Washington just changed its estate tax law, and the new rules take effect July 1, 2026.
Governor Ferguson recently signed legislation that lowers the state estate tax exemption to $3,000,000 and sets the top tax rate at 20%. That's a significant rollback from the 35% rate currently in effect for deaths occurring before July 1st.
If you're a Washington resident with a taxable estate, now is the time to act.
Proper planning, including reviewing beneficiary designations, updating estate documents, and exploring options to reduce future tax liability, can make a meaningful difference for the people you leave behind. And if you're thinking about changing your domicile to another state, the tax implications deserve a close look before you move.
The estate planning team at Shannon & Associates is here to help you navigate these changes with confidence.
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