Tax Planning

 

Minimize Your Tax Burden with Strategic Estate Planning

While passing on your legacy is a primary goal, minimizing the tax impact on your beneficiaries is equally important. A well-crafted estate plan considers various taxes that could affect your assets, including Washington Estate Tax, Federal Estate Tax, Capital Gains Tax, Gift Tax, and Generation-Skipping Tax.

Understanding Washington Estate Tax

Washington residents with estates exceeding $2.2 million face a 10–20% estate tax. Careful planning with proper legal documents can significantly reduce this tax burden, ensuring more of your assets reach your loved ones.

In Seattle or Anywhere in Washington — We’re Here for You

Local to Seattle? You can meet with us in person at our office or choose a virtual appointment — whatever works best for you. Outside the area? No problem — we provide expert legal services virtually to clients across Washington, making it easy and convenient to get the trusted support you deserve.

Federal Estate Tax and Its Implications

The federal government also taxes estates exceeding a threshold (currently around $11.7 million). Strategic planning can minimize the impact of this tax, maximizing the value your beneficiaries inherit. For estates falling between the Washington and federal tax thresholds, unique strategies exist to optimize tax savings.

Beyond Estate Taxes: Capital Gains and Gift Taxes

Proper estate planning helps minimize capital gains taxes on assets like your home or stocks. It also utilizes gifting strategies to reduce federal tax burdens. Washington’s lack of a gift tax creates further planning opportunities.

Harbor Law Firm: Your Tax Planning Partner

Don’t let taxes erode your legacy. Our experienced estate planning attorneys will work closely with you to understand your assets and beneficiary goals. We’ll then craft a personalized plan that minimizes your tax liability and maximizes the value passed on to your loved ones.

Contact Harbor Law Firm today to schedule a consultation and start planning for long-term tax efficiency and peace of mind.