Legal Question in Wills and Trusts in Washington

Re: inheritance taxes

Some states have separate inheritance taxes IN ADDITION TO federal estate tax. Other states have inheritance tax but it is tied as an exemption or the like to the federal estate tax with the result being that no further estate tax is due other than the federal estate tax. It is simply a way for the state to insure that some of the federal estate tax is directed towards the needs of that state. Washington is in the latter category. It has an inheritance tax of sorts but it is merely tied to the federal estate tax and results in no additional tax due in addition to the federal estate tax. So, to make a long story long, if, as you state, you reside in Washington and all of your assets are in Washington (or accounts in Washington) you shouldn't owe any estate tax in addition to any federal estate tax you may have regardless of where your children live.

Hope this helps.

Bruce R. Busch

Attorney at Law