<div dir="ltr"><div><span class="gmail_default" style="font-family:arial,sans-serif">To answer the question about whether the Bill addresses portability - NO, there is no change on the portability front. </span><br clear="all"></div><div><span class="gmail_default" style="font-family:arial,sans-serif"><br></span></div><div><span class="gmail_default" style="font-family:arial,sans-serif">In full transparency - the bill also addressed changes to the capital gains tax, but given where the discussion with us had been around the Estate tax, I just wanted to share that bit of news first. Full and formal recaps will be created as soon as there is final action. </span><br></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><br></div><br><div class="gmail_quote gmail_quote_container"><div dir="ltr" class="gmail_attr">On Thu, Apr 24, 2025 at 10:27 AM Paul Neumiller <<a href="mailto:pneumiller@hotmail.com">pneumiller@hotmail.com</a>> wrote:<br></div><blockquote class="gmail_quote" style="margin:0px 0px 0px 0.8ex;border-left:1px solid rgb(204,204,204);padding-left:1ex"><div class="msg-8843630201513914007">
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<p class="MsoNormal"><span style="font-family:"Times New Roman",serif">Did the Bill address the portability issue similar to the federal taxations we don’t need to play the disclaimer trust in a Will game??
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<p class="MsoNormal"><a name="m_-8843630201513914007_Paul_A__Neumiller"><span style="font-size:11pt;font-family:Calibri,sans-serif"><img width="250" height="150" style="width: 2.6in; height: 1.5583in;" id="m_-8843630201513914007_x0000_i1025" src="cid:ii_19668df60f84ce8e91"></span></a><span style="font-size:11pt;font-family:Calibri,sans-serif"><u></u><u></u></span></p>
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<p class="MsoNormal"><b><span style="font-size:11pt;font-family:Calibri,sans-serif">From:</span></b><span style="font-size:11pt;font-family:Calibri,sans-serif"> <a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.wsbarppt.com</a> <<a href="mailto:wsbarp-bounces@lists.wsbarppt.com" target="_blank">wsbarp-bounces@lists.wsbarppt.com</a>>
<b>On Behalf Of </b>Brent Williams-Ruth<br>
<b>Sent:</b> Thursday, April 24, 2025 10:17 AM<br>
<b>To:</b> WSBA Real Property Listserv <<a href="mailto:wsbarp@lists.wsbarppt.com" target="_blank">wsbarp@lists.wsbarppt.com</a>>; WSBA Probate & Trust Listserv <<a href="mailto:WSBAPT@lists.wsbarppt.com" target="_blank">WSBAPT@lists.wsbarppt.com</a>><br>
<b>Subject:</b> [WSBARP] Estate Tax Update - BREAKING NEWS<u></u><u></u></span></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">Greetings List Members - </span></span><br clear="all">
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">Last night the Washington House of Representatives passed SB 5813, with two amendments. It is NOT YET signed by the Governor....but here is what has been agreed to
between the House and the Senate: </span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">1) The Estate Tax Exemption Level will be adjusted to $3,000,000, to be adjusted annually with the CPI report that includes the City of Seattle....hopefully forever
preventing a future "stall" in adjustments when the CPI report changes its name. </span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">2) The Tax Brackets remain the same. </span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">3) The Tax Rates for the respective brackets will change, with the top effective tax rate being 35%, here is the table: </span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">Washington Taxable Estate, the Current Rate, and the New Rate</span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">$0 to $1,000,000, old rate 10%, new rate 10%</span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">$1,000,000 to $2,000,000, old rate 14%, new rate 15%</span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">$2,000,000 to $3,000,000, </span></span><span style="font-family:Arial,sans-serif">old rate<span class="m_-8843630201513914007gmaildefault"> </span>15%,
<span class="m_-8843630201513914007gmaildefault">new rate </span>17%</span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">$3,000,000 to $4,000,000, </span></span><span style="font-family:Arial,sans-serif">old rate<span class="m_-8843630201513914007gmaildefault"> </span>16%, new rate<span class="m_-8843630201513914007gmaildefault"> </span>19%</span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">$4,000,000 to $6,000,000, </span></span><span style="font-family:Arial,sans-serif">old rate<span class="m_-8843630201513914007gmaildefault"> </span>18%, new rate<span class="m_-8843630201513914007gmaildefault"> </span>23%</span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">$6,000,000 to $7,000,000, </span></span><span style="font-family:Arial,sans-serif">old rate19%, new rate<span class="m_-8843630201513914007gmaildefault"> </span>26%</span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">$7,000,000 to $9,000,000, old rate 19.5%, </span></span><span style="font-family:Arial,sans-serif">new rate<span class="m_-8843630201513914007gmaildefault"> </span>30%</span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif"> $9,000,000 and up, old 20%, new rate 35%</span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">What is NOT yet agreed to.....</span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">When this will take effect. Senate version has it go back to January 1, 2025 (good for those over 2.193, and below $3,000,000......bad for those in the top two tack
brackets). The House version has this taking effect on July 1, 2025. </span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">Also, the house version included the qualified non-familial heir. </span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">It is my personal belief that both of these house amendments will pass the Senate version....</span></span><u></u><u></u></p>
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<p class="MsoNormal"><span class="m_-8843630201513914007gmaildefault"><span style="font-family:Arial,sans-serif">Please note that the Governor has not weighed in on this specific topic (publically)....but I believe that this will be signed into law. </span></span><u></u><u></u></p>
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<p class="MsoNormal"><span style="font-family:Arial,sans-serif">To everyone who helped us lobby in our PERSONAL capacities as practitioners and citizens. Thank you. When we went to Olympia in support of the first bill that simply sought to fix the inflation
indexing, the comments and support of the over 200 signatories to our letter made an impact. <u></u><u></u></span></p>
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<p class="MsoNormal"><span style="font-family:Arial,sans-serif">Should I be re-elected to the RPPT Executive Committee again, I will propose a prospective plan where those who wish to follow legislation can "opt-in" and be kept appraised. The bill that passed
both the House and Senate was made public last week (during Spring Break and Easter Holiday) and the Senate hearing was given less than 24 hours notice. <u></u><u></u></span></p>
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<p class="MsoNormal"><span style="font-family:Arial,sans-serif">For future bills and laws, we will want to put into place a rapid response plan. <u></u><u></u></span></p>
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<p class="MsoNormal"><span style="font-family:Arial,sans-serif">Thank you and stay tuned for the final update after the Governor takes action!<u></u><u></u></span></p>
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<p class="MsoNormal"><span style="font-family:Arial,sans-serif">Brent<u></u><u></u></span></p>
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<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><u></u><u></u></p>
<p><b><span style="font-family:"Times New Roman",serif">Law Offices of Brent Williams-Ruth, </span></b><b><span style="font-size:7.5pt;font-family:"Times New Roman",serif">a division of BWR Consulting, PLLC</span></b><u></u><u></u></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><u></u><u></u></p>
<p><b><span style="font-family:"Times New Roman",serif;color:red">Mailing Address:</span></b><b><span style="font-family:"Times New Roman",serif"> PO BOX 3319; Federal Way, WA 98063 </span></b><u></u><u></u></p>
<p><span style="font-family:"Times New Roman",serif">Office/Scheduling Phone:<span style="color:rgb(0,64,128)"> </span><span style="color:red">(253) 285-7751</span></span><u></u><u></u></p>
<p><span style="font-family:"Times New Roman",serif;color:red">For All Meetings & Scheduling:
<a href="mailto:info@williams-ruthlaw.com" target="_blank">info@williams-ruthlaw.com</a></span><u></u><u></u></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><u></u><u></u></p>
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