Alesia Pinney, co-founder and CEO of Legata, has launched a startup aimed at addressing challenges related to estate planning for affluent families. The Seattle-based platform assists households with assets ranging from $1 million to $20 million in creating wills and trusts to navigate complex estate tax regulations.
Legata emerged from Pinney's frustrations with the Washington state estate tax, which applies to estates over $3 million per individual. The recent tax increase, rising to as much as 35%, has sparked concerns about wealthy residents relocating due to high taxation. Pinney advocates for the repeal of this tax hike, emphasizing the risk of losing entrepreneurs in the state.
With a launch last year focused on Washington, Legata has expanded its services nationally. The platform offers a comprehensive estate planning solution for a subscription fee of $1,495 for initial setup and $195 annually for ongoing support and updates. According to Pinney, the need for effective estate planning services is critical as many families remain unaware of the risks to their wealth without proper planning.