• The Federal Estate Tax. The federal government imposes an estate tax on the transfer of significant wealth at death. The current federal limit is $13.99 million for a single individual, and with portability, this amount increases to $27.98 million. Additionally, these amounts are scheduled to increase to $15 million and $30 million, respectively, at the beginning of 2026. However, any amount exceeding this limit is then taxed at a rate of 40%. While the federal exemption is currently high, allowing many estates to pass tax-free, this amount is not permanent and can change based on legislation. For high-net-worth families, planning to minimize this tax is crucial.

• The Oregon Estate Tax. Oregon has its own estate tax with a significantly lower exemption than the federal level. Oregon will tax any estate above just $1 million. This amount does not double for married couples, meaning a married couple's limit remains $1 million and is not indexed for inflation. Oregon will tax an estate above this limit at rates ranging from 10% to 16%. This means many Oregon families who are not subject to federal tax are still impacted by this state tax. Proactive planning is essential for Oregon residents to protect their assets from this exposure.

• The Washington Estate Tax. Like Oregon, Washington imposes its own estate tax with an exemption far below the federal threshold. Washington's estate tax limit is $3 million; it also does not double for a married couple, but is indexed for inflation. Washington also has one of the highest state estate tax rates in the nation. Washington will tax any estate over the limit at rates ranging from 10% to 35%. For clients who are Washington residents or own property there (such as a vacation home), planning to address the Washington estate tax is a critical component of a comprehensive plan.

Fortunately, with proactive and sophisticated planning, there are powerful strategies to minimize or even eliminate these taxes, ensuring your assets are preserved for the people and causes you care about most.

Navigating the Estate Tax Landscape

A primary goal of sophisticated estate planning is to ensure the wealth you have built passes to your loved ones, not to the government. With potential taxes at the federal and state levels, navigating this landscape requires careful, strategic planning. Our firm is dedicated to guiding you through this complexity, protecting your legacy from unnecessary depletion.

Learn More About Our Estate Planning Services

Establishes a clear plan for your medical and financial well-being, designating trusted individuals to make decisions on your behalf if you are unable to do so yourself.

The foundational document that outlines how your assets should be distributed, names guardians for minor children, and appoints a personal representative/executor to oversee the process.

Versatile and powerful legal instruments used to manage assets, bypass the public process of probate, provide for loved ones, and create lasting family legacies.

Strategic use of advanced tax planning tools, including specialized Irrevocable Trusts, designed to minimize exposure to estate, ensuring more of your wealth is preserved for your beneficiaries.

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