A Simple Way to Avoid Paying Estate Taxes | Estate Planning TV 023

A Simple Way to Avoid Paying Estate Taxes

If you live in Washington State your estate tax burden starts at $2.129 million dollars.

That might sound like a lot, but when you factor in the price of real estate AND the fact that life insurance counts in that calculation, it doesn’t take much to reach that $2.129MM estate tax threshold.

And, once you get there, the money adds up fast.

On the first million over that mark you are paying a 10% tax.

On the next million it’s 14%.

That means if you have an estate that’s a little over $4 million dollars and you die you are looking at a $240,000 estate tax bill!

There are some ways to reduce and eliminate your estate tax liability, it just takes a little a little strategizing, a little planning, and the help of a great estate planning attorney.

And, when you’re done, If you want to talk more about your own estate planning needs and wants, click here and schedule a strategy session.