WA Supreme Court - QTIP Fix Stays in Place
If you’re doing complex estate planning involving a QTIP, you should probably read this case. For the rest of the world, to put this in perspective, the TAXES paid on this thing in protest were $643.953. Think of the amount the Estate must have been?!
The real moral of this story is that the so-called Death Tax does not apply to people like you and me. Your estate has to be huge for it to apply. How huge? $5,340,000 huge for Federal and $2,000,000 and change huge for state. Don’t worry about it if your assets are below that.