Elevated Estate Planning, P.S. | June 18, 2025 | Estate Planning
The Complete Guide to Washington State Estate Planning
You may have heard the phrase, “Nothing is certain except death and taxes.” With that in mind, we should probably plan for both when it comes to estate planning in Washington State. Estate planning doesn’t have to be a boring topic, and much of it can be pretty interesting once you start understanding the benefits….
Elevated Estate Planning, P.S. | May 2, 2025 | Trusts
What is a Memorandum of Trust Used For?
One of the primary benefits of having a Revocable Living Trust is the privacy offered by this estate planning method. Unlike a Will, which becomes a matter of public record when it’s offered for probate, your Trust Agreement does not become public. So, your business remains your business. What happens, then, when you are attempting…
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…