Estate Planning in Washington State

[@etutlf4176]

Assume my estate is worth 3.2 million and my home is worth 2.2 million say. So of I pass away now, I will owe estate taxes in WA on 3.2 million. If I have made a TOD on my home and it passes to my daughter on my passing. For estate tax purposes, is my estate worth 1 million or still 3.2 million after my passing? In other words, does the TOD reduce the value of my estate for estate tax purposes? Many thanks.

[@sophoswealthmanagement]

TOD assets are still considered part of the taxable estates. The primary benefit with such a designation is a quick transfer that avoids probate.