Do I have to pay Washington Estate Taxes?
Originally posted 1/16/2018 and updated 3/1/2022 Did you know that Washington state has its own estate tax, and that it starts at a much lower dollar threshold than the federal tax? Your “estate” is essentially the property you own when you die, and an estate tax is...
How much can I own and still qualify for Medicaid?
Originally posted 2/1/2018 and updated 2/28/22 Do you know how much you can own and still qualify for Medicaid long-term care? Because Medicaid is a needs-based program, there are limits on how much you can own and still qualify for long term care (e.g., nursing...
Power of Attorney vs. Durable Power of Attorney
Originally posted 12/12/2017 and revised 2/15/2022 Did you know what makes a durable power of attorney “durable”? Powers of attorney fall into two general categories: powers of attorney and durable powers of attorney. If you execute a non-durable power of attorney,...
Medicaid and Gifting
Originally posted on 12/26/2017 and revised 2/1/2022 Did you know that making a gift does not necessarily disqualify you from getting Medicaid for the next five years? Medicaid is a needs-based program, which means that your income and assets must be below a certain...
Do I have to pay taxes when I receive a gift?
In most cases, you don’t have to pay taxes when you receive a gift. In Washington, when you receive a gift, the person who gave you the gift pays the taxes (I talked about the taxes that the gift giver may have to pay in my January 4th post). The one exception is...About Talis Law PLLC
Stephen King practices law in Bellevue, WA. He writes short articles about estate planning to be informative and empowering.