Elevated Estate Planning, P.S. | October 9, 2025 | Estate Planning
National Estate Planning Awareness Week: Why It Matters for Washington Residents
Every October, National Estate Planning Awareness Week reminds Americans of the importance of preparing for the future. From October 20–26, people across the country are encouraged to review their financial and legal affairs to make sure their loved ones are protected. In Washington, estate planning isn’t just for the wealthy — it’s for anyone who…
Elevated Estate Planning, P.S. | October 8, 2025 | Trusts
Can a Trust Help Me Reduce Washington State and Federal Estate Taxes?
Estate planning in Spokane can start to feel complicated when looking at estate tax rules. This is especially true in Washington because it is one of the few states that imposes its own estate tax in addition to the federal estate tax. If your estate is large enough, you may be subject to both. The…
Elevated Estate Planning, P.S. | September 24, 2025 | Estate Tax Planning
Three Ways to Save on Washington Estate Taxes
The estate tax in Washington is among the highest in the country. The amount of estate taxes range from 10 to 35 percent, and they increase depending on the value of the estate. Unlike other states, though, Washington does not have an inheritance tax. An inheritance tax is placed on the beneficiaries of the estate,…
Elevated Estate Planning, P.S. | September 13, 2025 | Asset Protection
What Assets Belong in a Medicaid Asset Protection Trust?
If you are looking to qualify for Medicaid to receive help in paying for nursing home care, you may need to establish a Medicaid Asset Protection Trust (MAPT). A MAPT is an irrevocable trust that protects your assets from being counted against you when applying for Medicaid. When properly structured, MAPT assets will also not…
Elevated Estate Planning, P.S. | September 2, 2025 | Power of Attorney
Frequently Asked Questions About Washington Durable Powers of Attorney
In Washington estate planning, a durable power of attorney (DPA) is a critical document that can help protect your assets. A DPA enables you to appoint a family member, friend, or other trusted person to make financial decisions for you and your property. This can prove especially useful if you become incapacitated and are no…
Elevated Estate Planning, P.S. | August 11, 2025 | Wills
What Are the Basic Requirements for a Valid Will in Washington?
Creating a valid will is one of the most important steps you can take when planning for your future. In Washington, the law sets out clear rules that must be followed for a will to be legally recognized. If any of these rules are not met, the court may not honor the will during probate,…
Elevated Estate Planning, P.S. | August 7, 2025 | Estate Planning
Why Do I Need an Estate Planning Attorney in Washington?
Planning for the future often feels like something that can wait, but when it comes to your estate, delay can lead to confusion, conflict, and financial consequences for those you leave behind. That’s where working with a Spokane estate planning lawyer can make all the difference. While some people turn to online templates and generic…
Elevated Estate Planning, P.S. | August 4, 2025 | Estate Planning
How a Washington Credit Shelter Trust Can Affect Your Future Estate Tax Liability
If you are married and own substantial real estate or property in Washington State, you may need to think about creating a credit shelter trust as part of your estate plan. A credit shelter trust is a type of irrevocable bypass trust that can be used to reduce the amount of federal or Washington estate…
Elevated Estate Planning, P.S. | July 24, 2025 | Estate Planning
Explore the Costs of Estate Planning in Washington State
When considering one’s future, estate planning is a crucial aspect that ensures your assets, properties, and, most importantly, your loved ones are well-cared for when you’re no longer there. Today, we delve into the cost of estate planning in Washington state , offering a comprehensive guide to help you prepare for this essential step. Estate…
Elevated Estate Planning, P.S. | July 10, 2025 | Estate Planning
Is it Wise to Do Your Own “DIY Living Trust”?
In the internet age, doing things yourself, or the “DIY approach,” has become more popular. There’s no denying the appeal: it’s often cheaper, convenient, and can provide a sense of satisfaction. However, it’s crucial to understand the potential risks involved when it comes to significant financial and legal matters such as a DIY Living Trust….