Elevated Estate Planning, P.S. | April 10, 2025 | Estate Tax Planning
What Is the Difference Between Estate, Inheritance, and Gift Taxes in Washington?
Note: For deaths in 2026, the Washington State Department of Revenue sets the estate tax filing threshold and exclusion amount at $3,076,000 per individual. This exemption, which applies to both residents and non-residents with WA property, is not portable between spouses and does not include an automatic, 6 million combined exemption. The estate tax is often misunderstood. Many Washington…
Elevated Estate Planning, P.S. | February 2, 2024 | Estate Planning
4 Things You Need to Know About Washington State Medicaid Planning for 2024
For many Washington residents aged 65 and older, the cost of receiving long-term nursing home or other institutional care is prohibitively expensive. Medicaid can provide benefits to cover these costs. But there are strict income limits and other eligibility requirements a senior must follow in order to qualify and remain eligible. Proper Medicaid planning can…