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 Wa State Successor Authority 2019-2025

Successor 2019-2025 Form

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[Music] When I am talking about Estate  why I'm saying that is like upon death,   you're probably familiar that there's an Estate  tax. If you take those assets and get them out   of your own ownership and put them into an  Irrevocable Trust, they are outside of your   Estate and you're not going to be taxed on those  when you pass. So minimizing Estate taxes is   a purpose that is well served by use of an  Irrevocable Trust and I don't want to get in,   well let me talk a little bit about the Estate  tax laws. Right now in Washington State we have a   2.193 million dollar credit exclusion amount, many  the majority of states don't even have an Estate   tax, but we in Washington do. At the federal level  currently in 2023 it is 12,920,000 thousand is the   federal tax exclusion amount. So if you are in a  state that has no Estate tax, Idaho for example,   you can pass 12.92 million dollars and none of  that is

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