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Question on Trust and Estate taxes on investment properties
Hi, We are a married couple and own a primary residence in Bay Area, CA and another investment property in Redmond, WA. We recently setup a trust in California. My attorney mentioned that the state of Washington has very high estate tax. Should something happen to one of the trustee, the other trustee will be subject to huge estate tax if he/she wanted to sell our investment property in Redmond. We are planning to invest in more real estate properties most likely in Phoenix and/or Dallas. Does anyone has guidance on estate taxes and or point me to the right attorney? How do we account for estate taxes in our real-estate strategy?