[WSBAPT] WA Estate Tax Legislative Update - Proposed increase to Estate Tax Rates

[Brent Williams-Ruth]

>From what I have heard from 1 Republican legislator and 1 Democratic
legislator - "unless there is a budgetary need for this legislation" all of
these bills are dead.

So, it is likely that they are dead.

*Brent Williams-Ruth* (pronouns: he/him)
*Attorney-At-Law*

*Law Offices of Brent Williams-Ruth, **a division of BWR Consulting, PLLC*

*Physical Address: 500 S 336th Street, Suite 214; Federal Way, WA 98003*

*Mailing Address: **PO BOX 3319; Federal Way, WA 98063 *

Office/Scheduling Phone: (253) 285-7751

For All Meetings & Scheduling: info at williams-ruthlaw.com

e-mail <Brent at Williams-RuthLaw.com> / website
<http://www.williams-ruthlaw.com/> / facebook
<http://www.facebook.com/bwrlaw> /


On Fri, Mar 21, 2025 at 11:58 AM Joshua McKarcher <josh at mckarcherlaw.com>
wrote:

> Liberty or anyone else on the chain – any updates or insight on how one or
> more of these bills are faring in the legislature?
>
>
>
> *From:* wsbapt-bounces at lists.wsbarppt.com <
> wsbapt-bounces at lists.wsbarppt.com> *On Behalf Of *Liberty Upton
> *Sent:* Sunday, February 23, 2025 1:59 PM
> *To:* 'WSBA Probate & Trust Listserv' <wsbapt at lists.wsbarppt.com>
> *Subject:* [WSBAPT] WA Estate Tax Legislative Update - Proposed increase
> to Estate Tax Rates
>
>
>
> This is an update on the proposed bills that impact the Washington estate
> tax exemption and estate tax rates.
>
>
>
>    - *NEW** HB 2019 - making the estate tax more progressive*: a hearing
>    is scheduled for *Tuesday 2/25 at 8:00 AM*. *This does not give us
>    enough time to write another group letter to present at the hearing.* *If
>    you want to make your opinion known on this bill, please sign up to submit
>    oral or written testimony here:*
>    https://app.leg.wa.gov/csi/House?selectedCommittee=31643&selectedMeeting=32893
>       - This bill does increase the estate tax exemption to $3M for
>       deaths after 1/1/2025, and it does fix the CPI index name issue.
>       - *BUT it also significantly changes the estate tax rates as
>       follows:*
>
>
>
>    - *HB 1375 - adjusting the estate tax exclusion amount for inflation*:
>    there was a hearing on 2/20/25 by the House Committee on Finance
>    https://app.leg.wa.gov/BillSummary/?BillNumber=1375&Year=2025&Initiative=false
>       - Thank you to everyone who signed on to support this bill (it was
>       discussed in the hearing). Unfortunately, it is unlikely that this bill
>       will move forward because a new bill (HB 2019) that proposes more extensive
>       changes to RCW 83.100.020 was added to the docket on Friday. In short, HB
>       1375 adds to the budget deficit and is unlikely to move out of the
>       committee. Whereas HB 2019 will bring in more revenue for the state.
>
>
>
>    - *SB 5405 - updating the inflation adjustment for the estate tax
>    exclusion amount*: there was a hearing on 2/4/25 by the Senate
>    Committee on Ways & Means
>    https://app.leg.wa.gov/billsummary?BillNumber=5405&Year=2025&Initiative=False
>
>
>
>
>
>
>
>
>
>
>
> Liberty Upton
>
> Attorney
>
> Tel (206) 382-4414  (ex. 232) / Fax (206) 382-4412 / *lupton at khbblaw.com
> <lupton at khbblaw.com>*
>
> 705 Second Avenue / Suite 800 / Seattle, WA 98104 / *www.khbblaw.com
> <http://www.khbblaw.com/>*
>
>
>
>
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