Big Tax Changes Are Coming to Washington — Are You Ready?

In this episode of Navigating Estate Planning with Caress Law, host Tammi Caress breaks down the sweeping updates to Washington State’s estate and capital gains tax laws—set to take effect July 1, 2025. From a new $3 million estate tax exemption to rates climbing as high as 35%, plus a 9.9% tax on long-term capital gains over $1 million, these changes could have major implications for your wealth, your legacy, and your planning strategy.

Don’t miss Tammi’s expert insights on what it all means—and how to get ahead of it.

Highlights and Takeaways

1. Introduction to Estate Planning
2. Understanding the Estate Tax
3. Changes in Estate Tax Thresholds
4. Impact of Increased Tax Rates
5. Deductions for Family Businesses and Farms
6. Strategies to Minimize Estate Taxes
7. Long-Term Capital Gains Tax
8. Conclusion and Resources

Links and Resources Mentioned

https://caresslaw.estate/estate-planning-resources/     

https://www.washingtonpolicy.org/publications/detail/governor-ferguson-signs-the-largest-tax-increase-in-washingtons-history-into-law

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp