Tag: Advisor Enablement

Navigating the Line Between Tax and Legal Advice

No one gets married planning for divorce—but failing to plan can leave assets vulnerable. In this episode, Thomas Kopelman, Anne Rhodes, and Dave Haughton dive into why prenuptial agreements (prenups) are a key estate planning tool, not just a safeguard for the ultra-wealthy. They break down the difference between community and separate property, how prenups protect business owners, and what happens if you don’t have one in place. They also discuss post-nuptial agreements, common misconceptions, and how advisors can guide clients through these crucial conversations.

Spotify, Apple Podcasts or anywhere you listen to podcasts.

For any questions, email us at [email protected].

Trusts, Titling & Tough Calls: A Practical Q&A

No one gets married planning for divorce—but failing to plan can leave assets vulnerable. In this episode, Thomas Kopelman, Anne Rhodes, and Dave Haughton dive into why prenuptial agreements (prenups) are a key estate planning tool, not just a safeguard for the ultra-wealthy. They break down the difference between community and separate property, how prenups protect business owners, and what happens if you don’t have one in place. They also discuss post-nuptial agreements, common misconceptions, and how advisors can guide clients through these crucial conversations.

Spotify, Apple Podcasts or anywhere you listen to podcasts.

For any questions, email us at [email protected].

Big Changes to Washington’s Estate Tax: What Financial Advisors Need to Know

On May 20, 2025, Washington Governor, Bob Ferguson, signed new tax legislation that will have a significant impact on estate planning for clients in the state. These changes—which include both a higher exemption amount and steeper tax rates for larger estates—will take effect on July 1, 2025. Here’s what financial advisors should know to guide clients effectively.

What’s Changing?

Higher Estate Tax Exemption

Effective July 1, 2025, the estate tax exemption will increase from $2.193 million to $3 million. This means that the first $3 million of an estate’s value will be exempt from Washington’s state estate tax. For many clients, this increase offers additional room to pass wealth to heirs without incurring state-level estate taxes. The exemption amount will also be adjusted annually for inflation. The legislation also increases the state qualified family-owned business interest deduction to $3 million from $2.5 million.

Steeper Tax Rates for Larger Estates

While the higher exemption is welcome news for smaller estates, larger estates will face higher tax rates under the new legislation:

  • Estates exceeding $9 million will be taxed at a rate of 35%—up from the current top rate of 20%.
  • Estates valued between $1 million and $9 million will see marginal rates increasing on a graduated scale, ranging from 15% to 30%, depending on the estate’s taxable value.
Taxable Estate Value in WashingtonCurrent Tax RateNew Tax Rate (Effective July 1, 2025)
$0 – $1M10%10%
$1M – $2M14%15%
$2M – $3M15%17%
$3M – $4M16%19%
$4M – $6M18%23%
$6M – $7M19%26%
$7M – $9M19.5%30%
$9M+20%35%

Washington’s Capital Gains Tax: An Additional Planning Consideration

Effective retroactively to January 1, 2025, Washington now imposes an additional 2.9% surtax on capital gains exceeding $1 million per year. This is on top of the existing 7% tax on long-term capital gains over $270,000 (2024 inflation-adjusted amount). As a result, gains over $1 million will now be taxed at a combined state rate of 9.9%.

While the capital gains tax is separate from the estate tax, it’s an important planning consideration for high-net-worth clients. Large capital gains may reduce estate liquidity and potentially influence how clients structure wealth transfers and trust funding.

Why This Matters to Your Clients

Washington is one of several states that imposes a separate estate tax in addition to the federal estate tax. In addition to the federal estate tax at 40% for taxable estates greater than $13.99 million for 2025, larger estates will be subject to both the federal tax and the highest state estate tax rates in the country. For Washington clients with estates exceeding $3 million, it’s essential to:

  • Review existing estate plans and trust structures to ensure they align with the new exemption amount and higher rates.
  • Consider lifetime gifting strategies to reduce the taxable estate before death. Remember, Washington does not tax lifetime gifts, offering a powerful planning opportunity.
  • Integrate capital gains planning with estate tax mitigation strategies, especially for clients with taxable estates or those anticipating a large transaction, like the sale of a business.
  • Explore family-owned business deductions and other planning strategies to manage the potential tax impact.

Stay Ahead of the Curve

At Wealth.com, we understand that staying ahead of legislative changes is crucial to delivering exceptional service to your clients. To review the new legislation in full, click here.

Curious how to bring estate planning into your practice or how these changes could impact your clients? Book a demo to see how Wealth.com can help you deliver deeper value through modern, compliant estate planning. Our platform’s tools make it easy to integrate these changes into your clients’ estate plans, ensuring they remain aligned with the latest tax laws.

Titling Assets: The Critical Step After Estate Docs Are Signed

No one gets married planning for divorce—but failing to plan can leave assets vulnerable. In this episode, Thomas Kopelman, Anne Rhodes, and Dave Haughton dive into why prenuptial agreements (prenups) are a key estate planning tool, not just a safeguard for the ultra-wealthy. They break down the difference between community and separate property, how prenups protect business owners, and what happens if you don’t have one in place. They also discuss post-nuptial agreements, common misconceptions, and how advisors can guide clients through these crucial conversations.

Spotify, Apple Podcasts or anywhere you listen to podcasts.

For any questions, email us at [email protected].

Commonwealth Chooses Wealth.com to Deliver Estate Planning Platform Access to Network of Advisors

PHOENIX, AZ – June 3, 2025 — Wealth.com, the leading end-to-end estate planning platform, today announced it has been selected by Commonwealth Financial Network® (“Commonwealth”) as an estate planning solution for its more than 2,300 affiliated independent financial advisors. The partnership positions Wealth.com as a core component of Commonwealth’s broader effort to bring specialized planning services to advisors looking to attract and retain high-net-worth (HNW) clients through seamless, integrated estate planning as part of a comprehensive client experience.
“We continually seek innovative solutions that help our advisors get time back in their day while also becoming strategic partners for their clients, including HNW clients,” said Heather Zack, JD, director, high net worth, at Commonwealth. “Wealth.com simplifies estate planning nuances with a modern, tech-enabled approach. This partnership enables our advisors to grow, scale and deepen relationships by delivering a full spectrum of wealth management solutions to their clients.”
Wealth.com’s platform includes powerful tools such as Ester™, an AI-powered legal assistant that automates document review and generates client-ready summaries. For Commonwealth advisors, these innovations can translate into time savings, deeper planning insights and the ability to deliver more proactive, personalized estate guidance. Advisors gain the ability to seamlessly incorporate estate planning into their broader wealth management process, with the opportunity to strengthen client relationships, improve retention across generations and drive growth at scale.
By introducing Wealth.com into its suite of planning services, Commonwealth is equipping advisors with tools that simplify the estate planning process, transforming what was once a complex and static task into an accessible, ongoing part of a client’s financial life.
“We’re honored to be named Commonwealth’s estate planning partner,” said Tim White, co-founder and chief growth officer at Wealth.com. “This partnership reflects not only the strength of our platform, but also the shift taking place across the industry. Scalable, modern estate planning solutions are in demand, and Commonwealth is enabling their advisors to meet the evolving needs of their clients.”
Additional onboarding resources and training sessions will be made available to Commonwealth advisors in the coming months to support implementation and engagement. To learn more about Wealth.com’s advanced, end-to-end estate planning platform, please visit Wealth.com.

About Commonwealth Financial Network®

Commonwealth Financial Network, Member FINRA/SIPC, a Registered Investment Adviser, provides financial advisors with holistic, integrated solutions that support business evolution, growth acceleration, and operational efficiency. J.D. Power ranks Commonwealth “#1 in Independent Advisor Satisfaction Among Financial Investment Firms, 11 Times in a Row.” Founded in 1979, the firm has headquarters in Waltham, Massachusetts, and San Diego, California, and an operations hub in Blue Ash, Ohio. Learn more about how Commonwealth partners with approximately 2,345 independent financial advisors overseeing more than $344 billion* in assets nationwide by visiting www.commonwealth.com. Commonwealth received the highest score among independent advisors in the J.D. Power 2010, 2012, 2013, 2014, and 2018‒2024 U.S. Financial Advisor Satisfaction Studies. Presented on July 10, 2024, for January to May of 2024, it is based on responses from 4,072 advisors employed by or affiliated with the firms included in the study. Not indicative of the firm’s future performance. Your experience may vary. Study is independently conducted, and the participating firms do not pay to participate. Use of study results in promotional materials is subject to a license fee. Visit jdpower.com/awards for more details.

* As of 12/31/2024

About Wealth.com

Wealth.com is the industry’s leading estate planning platform, empowering 1,000+ wealth management firms to modernize the delivery of estate planning guidance to their clients. As the only tech-led, end-to-end estate planning platform built specifically for financial institutions, Wealth.com helps drive scale and efficiency, meeting client needs across the wealth spectrum. Financial advisors ranked Wealth.com as the #1 estate planning platform in the 2024 T3/Inside Information Advisor Software Survey. In 2024, Wealth.com was honored by WealthManagement.com as the ‘Best Technology Provider’ in the Trust category, and CEO Rafael Loureiro received the Advisor Choice Award for Technology Providers: CEO of the Year.

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Dynasty Trusts & the GST Exemption: Protecting Wealth Across Generations

No one gets married planning for divorce—but failing to plan can leave assets vulnerable. In this episode, Thomas Kopelman, Anne Rhodes, and Dave Haughton dive into why prenuptial agreements (prenups) are a key estate planning tool, not just a safeguard for the ultra-wealthy. They break down the difference between community and separate property, how prenups protect business owners, and what happens if you don’t have one in place. They also discuss post-nuptial agreements, common misconceptions, and how advisors can guide clients through these crucial conversations.

Spotify, Apple Podcasts or anywhere you listen to podcasts.

For any questions, email us at [email protected].

The Family Support Playbook: Gifting, Loaning, and Renting Explained

No one gets married planning for divorce—but failing to plan can leave assets vulnerable. In this episode, Thomas Kopelman, Anne Rhodes, and Dave Haughton dive into why prenuptial agreements (prenups) are a key estate planning tool, not just a safeguard for the ultra-wealthy. They break down the difference between community and separate property, how prenups protect business owners, and what happens if you don’t have one in place. They also discuss post-nuptial agreements, common misconceptions, and how advisors can guide clients through these crucial conversations.

Spotify, Apple Podcasts or anywhere you listen to podcasts.

For any questions, email us at [email protected].

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