Oregon’s estate tax only applies to the decedent’s wealth on the date of death. ORS 118.010. And Oregon has no gift tax. Thus, if assets are given away before death, by even one day, the tax is zero. But gifts can backfire. Here’s why. Continue reading
Is Oregon’s estate tax the highest in the nation? No. Is it one of the highest? Yes, but Oregon provides a much-needed tax break for modest estates.
This chart summarizes the estate tax laws of the 20 states that currently impose an estate tax. Included are the exemptions, top rate, and computations of tax liability for estates of $1M, $1.1M, $3M, $5M and $10M. Continue reading
General Overview. For the last 20 years, variations of the A/B Trust have been the cornerstone of estate tax planning for married couples. In a nutshell, the A/B Trust structure prevents all or a portion of the wealth from the first spouse to die from being included in the surviving spouse’s estate — even though she has the use of the money for the rest of her life.
The big difference between Oregon and Washington is that Oregon’s estate tax covers all wealth in excess of $1M, while Washington’s tax only applies to wealth in excess of $2M. In the table below, I have summarized the Washington tax payable on estates of various sizes. Continue reading