<div dir="ltr"><div><div class="gmail_default" style="font-family:arial,sans-serif"><span style="font-family:"Times New Roman",serif;font-size:12pt">This is an update on the proposed bills that impact the Washington estate tax exemption and estate tax rates.</span></div><p class="MsoNormal"><span style="font-size:12pt;font-family:"Times New Roman",serif"><u></u> <u></u></span></p><ul type="disc" style="margin-bottom:0in;margin-top:0in"><li class="m_7223245893435395543MsoListParagraph" style="margin:0in;font-size:11pt;font-family:Aptos,sans-serif"><b><u><span style="font-size:12pt;font-family:"Times New Roman",serif">NEW</span></u></b><u><span style="font-size:12pt;font-family:"Times New Roman",serif"> <b>HB 2019</b> - making the estate tax more progressive</span></u><span style="font-size:12pt;font-family:"Times New Roman",serif">: a hearing is scheduled for <b><span style="background:yellow">Tuesday 2/25 at 8:00 AM</span></b><span style="background:yellow">.</span> <b>This does not give us enough time to write another group letter to present at the hearing.</b> <b><span style="background:yellow">If you want to make your opinion known on this bill, please sign up to submit oral or written testimony here:</span></b> <a href="https://app.leg.wa.gov/csi/House?selectedCommittee=31643&selectedMeeting=32893" target="_blank">https://app.leg.wa.gov/csi/House?selectedCommittee=31643&selectedMeeting=32893</a><u></u><u></u></span></li><ul type="circle" style="margin-bottom:0in;margin-top:0in"><li class="m_7223245893435395543MsoListParagraph" style="margin:0in;font-size:11pt;font-family:Aptos,sans-serif"><span style="font-size:12pt;font-family:"Times New Roman",serif">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.<u></u><u></u></span></li><li class="m_7223245893435395543MsoListParagraph" style="margin:0in;font-size:11pt;font-family:Aptos,sans-serif"><b><span style="font-size:12pt;font-family:"Times New Roman",serif">BUT it also significantly changes the estate tax rates as follows:<u></u><u></u></span></b></li></ul></ul><p class="m_7223245893435395543MsoListParagraph" style="margin:0in 0in 0in 0.5in;font-size:11pt;font-family:Aptos,sans-serif"><span style="font-size:12pt;font-family:"Times New Roman",serif"><img border="0" width="680" height="284" id="m_7223245893435395543Picture_x0020_1024982579" src="cid:image002.png@01DB85FA.3AA4F910" class="gmail-CToWUd gmail-a6T" tabindex="0" style="cursor: pointer; outline: 0px; width: 7.0869in; height: 2.9565in;"></span><span style="font-size:12pt;font-family:"Times New Roman",serif"><u></u><u></u></span></p><p class="m_7223245893435395543MsoListParagraph" style="margin:0in 0in 0in 0.5in;font-size:11pt;font-family:Aptos,sans-serif"><span style="font-size:12pt;font-family:"Times New Roman",serif"><u></u> <u></u></span></p><ul type="disc" style="margin-bottom:0in;margin-top:0in"><li class="m_7223245893435395543MsoListParagraph" style="margin:0in;font-size:11pt;font-family:Aptos,sans-serif"><u><span style="font-size:12pt;font-family:"Times New Roman",serif">HB 1375 - adjusting the estate tax exclusion amount for inflation</span></u><span style="font-size:12pt;font-family:"Times New Roman",serif">: there was a hearing on 2/20/25 by the House Committee on Finance <a href="https://app.leg.wa.gov/BillSummary/?BillNumber=1375&Year=2025&Initiative=false" target="_blank">https://app.leg.wa.gov/BillSummary/?BillNumber=1375&Year=2025&Initiative=false</a><u></u><u></u></span></li><ul type="circle" style="margin-bottom:0in;margin-top:0in"><li class="m_7223245893435395543MsoListParagraph" style="margin:0in;font-size:11pt;font-family:Aptos,sans-serif"><span style="font-size:12pt;font-family:"Times New Roman",serif">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.<u></u><u></u></span></li></ul></ul><p class="m_7223245893435395543MsoListParagraph" style="margin:0in 0in 0in 0.5in;font-size:11pt;font-family:Aptos,sans-serif"><span style="font-size:12pt;font-family:"Times New Roman",serif"><u></u> <u></u></span></p><ul type="disc" style="margin-bottom:0in;margin-top:0in"><li class="m_7223245893435395543MsoListParagraph" style="margin:0in;font-size:11pt;font-family:Aptos,sans-serif"><u><span style="font-size:12pt;font-family:"Times New Roman",serif">SB 5405 - updating the inflation adjustment for the estate tax exclusion amount</span></u><span style="font-size:12pt;font-family:"Times New Roman",serif">: there was a hearing on 2/4/25 by the Senate Committee on Ways & Means <a href="https://app.leg.wa.gov/billsummary?BillNumber=5405&Year=2025&Initiative=False" target="_blank">https://app.leg.wa.gov/billsummary?BillNumber=5405&Year=2025&Initiative=False</a><u></u><u></u></span></li></ul><p class="m_7223245893435395543MsoListParagraph" style="margin:0in 0in 0in 0.5in;font-size:11pt;font-family:Aptos,sans-serif"><span style="font-size:12pt;font-family:"Times New Roman",serif"><u></u> </span></p><br clear="all"></div><div><div dir="ltr" class="gmail_signature" data-smartmail="gmail_signature"><div dir="ltr"><div dir="ltr"><p><b><span style="font-family:"Times New Roman",serif">Brent
Williams-Ruth</span></b><span style="font-family:"Times New Roman",serif"> (pronouns: he/him)<br>
<i>Attorney-At-Law</i></span></p><p><b><span style="font-family:"Times New Roman",serif">Law
Offices of Brent Williams-Ruth, </span></b><b><span style="font-family:"Times New Roman",serif"><font size="1">a division of BWR Consulting, PLLC</font></span></b><b><span style="font-family:"Times New Roman",serif"></span></b></p><p><b><span style="font-family:"Times New Roman",serif">Physical Address: 500 S 336th Street, Suite 214; Federal
Way, WA 98003</span></b><span style="font-family:"Times New Roman",serif"></span></p><p><b><span style="font-family:"Times New Roman",serif"><font color="#ff0000">Mailing Address:</font> </span></b><b><span style="font-family:"Times New Roman",serif">PO BOX 3319; Federal Way, WA 98063 </span></b></p><p><span style="font-family:"Times New Roman",serif">Office/Scheduling
Phone:<span style="color:#004080"> </span><font color="#ff0000">(253) 285-7751</font></span></p><p><font color="#ff0000" face="Times New Roman, serif">For All Meetings & Scheduling: <a href="mailto:info@williams-ruthlaw.com" target="_blank">info@williams-ruthlaw.com</a></font></p><p>









</p><p><span style="font-family:"Times New Roman",serif"><a href="mailto:Brent@Williams-RuthLaw.com" target="_blank">e-mail</a> / <a href="http://www.williams-ruthlaw.com/" target="_blank">website</a> /</span><span style="font-size:9.5pt;font-family:"Times New Roman",serif"> </span><span style="font-family:"Times New Roman",serif"><a href="http://www.facebook.com/bwrlaw" target="_blank"><span style="font-size:9.5pt">facebook</span></a></span><span style="font-size:9.5pt;font-family:"Times New Roman",serif"> / </span><span style="font-size:12.0pt;font-family:"Times New Roman",serif"></span></p></div></div></div></div></div>