[WSBARP] Washington estate tax

[cyfield at rockisland.com]

But having out of state assets treated as personal property may be a good thing if those assets are in a state with low estate tax exemption. For instance, Oregon has only a $1M exemption, so for a Washington resident with a $1M-$3M estate with Oregon assets, it may be worth it to convert Oregon real property to personal to avoid Oregon estate tax.  Thanks, Cy

Cyrus W. Field, Attorney at Law (admitted in Washington and Oregon); Phone: 360-472-1223 
Mail: POB 367, Shaw Island, WA 98286
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-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Mike Zeno
Sent: Monday, September 22, 2025 1:01 PM
To: WSBA Real Property Listserv <wsbarp at lists.wsbarppt.com>
Subject: Re: [WSBARP] Washington estate tax

Last time I checked--about two years ago--holding out of state property in an LLC was a mistake, because membership interests are considered personal property, thus bringing the value of the out-of-state real estate into the Washington taxable estate.




-----Original Message-----
From: wsbarp-bounces at lists.wsbarppt.com <wsbarp-bounces at lists.wsbarppt.com> On Behalf Of Chris B
Sent: Monday, September 22, 2025 12:32 PM
To: wsbarp at lists.wsbarppt.com
Subject: [WSBARP] Washington estate tax

I am not an estate planner, but I am getting quite a few inquiries about how to plan for the Washington estate tax.  Specifically, I have quite a few clients moving their residence outside of Washington, but who still have investment properties and/or vacation homes in Washington.

Are there any especially good resources to learn the planning strategies.  For example, is there any benefit for using foreign LLCs to hold Washington properties? Similarly, what about using or avoiding Washington LLCs to hold assets outside the state.  

I am also curious what my colleagues are experiencing. I am seeing a huge number of high net worth individuals and families leaving Washington.

FWIW, I’ve reviewed the DOR website and am only more confused.

Christopher T. Benis
Sent from my iPad

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