Navigating Estate Planning with Caress Law

It's October, so we're telling horror stories. These aren't ghosts. They're the estate planning mistakes we see families make every day, and every one of them started with a good intention.

Watch the episode here.

In this episode, Tammi Caress walks through five common mistakes that haunt Oregon and Washington families:

• The House That Cost a Fortune: why gifting your house to a child can trigger a huge capital gains bill, and which assets are smarter to gift
• The Joint Account Curse: why adding a child to your bank account can disinherit your other children
• The Will That Didn't Matter: how a single beneficiary designation can override your entire will
• The "I Love You" Will: why Oregon and Washington couples can lose a full state estate tax exemption at the first death
• The Unfunded Trust: how families pay for a trust and still end up in probate

If any of these sound like your plan, schedule a consultation at CaressLaw.estate

Chapters

00:00 Cold open

02:01 Why good intentions go wrong

03:29 Gifting your house to a child

06:39 Adding a child to your bank account

09:14 When a beneficiary designation beats your will

12:18 The "I love you" will and state estate tax

16:35 The unfunded trust

20:18 How to avoid these mistakes

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

https://www.instagram.com/caresslaw/

Follow the podcast in Apple Podcasts, Spotify, and YouTube

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

https://www.youtube.com/@thewillsandtrustlawyer

Disclaimer: This episode is for educational purposes only and is not legal or tax advice. Stories are composites and do not describe actual clients. Listening does not create an attorney-client relationship.

Think your estate plan is handled? Seven common mistakes could still leave your family with a costly mess. In this episode of Navigating Estate Planning with Caress Law, attorney Tammi Caress explains where plans go wrong, from relying on a will alone to overlooking Oregon and Washington estate taxes. Drawing on patterns she sees in her practice, Tammi shares what to check now, before your family has to sort it out later. Watch the episode here In This Episode

1. Assuming a Will Is Good Enough
2. Not Funding Your Trust
3. Ignoring Beneficiary Designations
4. Not Updating After Life Changes
5. Choosing the Wrong Fiduciary
6. Forgetting About Taxes
7. Not Telling Anyone About Your Plan

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

https://www.instagram.com/caresslaw/

Follow the podcast in Apple Podcasts, Spotify, and YouTube

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

https://www.youtube.com/@thewillsandtrustlawyer

Can you protect a new spouse and guarantee your kids from a first marriage still inherit? In this episode, Tammi breaks down the practical fixes for blended family estate planning — QTIP trusts, ILITs, premarital agreements, beneficiary audits, and choosing the right fiduciaries — plus why the hardest part usually isn't the paperwork, it's the conversation.

In This Episode You Will Learn

Estate Planning Resources for Blended Families

Understanding Blended Families: Navigating Estate Planning and Unique Challenges Podcast Pt 1

Understanding Blended Families: Navigating Estate Planning and Unique Challenges Podcast Pt 2

QTIP Trusts — What "qualified terminable interest property" Trust means, how it secures income/principal for a surviving spouse while preserving remainder for kids, marital deduction mechanics, can be set up pre-marriage

Life Insurance & ILITs — Using life insurance to equalize distributions between spouse and kids; ILIT structure to keep policy proceeds out of the taxable estate

Premarital/Postmarital Agreements — Reframed as inheritance protection, not distrust; waiving elective share; separating community vs. separate property (OR vs. WA)

Titling & Beneficiary Audits — Retirement accounts, joint bank accounts, why these pass outside the will/trust; triggers for review (divorce, remarriage, death, illness); real case example of ex-spouse remaining beneficiary

Choosing Fiduciaries — Why not to name spouse + adult child as co-fiduciaries; case for corporate/professional trustee in blended families

Having the Hard Conversations — Why documents alone aren't enough; timing conversations before crisis; family meeting vs. one-on-ones; what NOT to do (don't let kids weigh in on the plan, don't make promises, don't let reactions drive on-the-spot changes)

Warning — Warning against using general practitioners for estate planning; webinars, blog, website; review ask

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

If you own a home and a retirement account in Oregon or Washington, your family may already owe estate taxes — even if you've never thought of yourself as wealthy. In this episode, Tammi breaks down Oregon's frozen $1 million exemption, Washington's rapidly shifting exemption and tax rate, why owning property in a state you don't live in can trigger taxes there too, and the planning tools (marital deduction, QTIP trusts, exemption trusts, gifting, and LLCs) that can meaningfully reduce or eliminate the bill. She also unpacks Washington's newer capital gains tax and the upcoming "millionaire's tax."

Key Definitions

• Gross estate — everything a person owns at death: home, investment accounts, retirement accounts, life insurance.
• Exemption — the amount that passes free of estate tax.
• Taxable estate — the value above the exemption; this is what determines whether a return must be filed and tax paid.

The Two Numbers That Matter

Oregon

Washington (post 7/1/2026)

Exemption

$1,000,000 (unchanged since deaths after 1/1/2012)

$3,000,000 (frozen)

Top tax rate

16% (range 10–16%)

20%

Washington's exemption and rate have moved several times in the last two years: the top rate spiked to 35% for one year before dropping back to 20% and freezing the exemption at $3 million as of July 1, 2026. Estates of people who died before that date may fall under different numbers — the exemption and rate depend on date of death.

Key Takeaways / Action Items

• Know your number: $1M (Oregon), $3M (Washington), $15M (federal, ~$30M married).
• Add up everything — home, retirement accounts, investments, and life insurance — to see where you land.
• Leaving everything outright to a spouse can waste an exemption; proper planning (exempt trusts) can fix this.
• Gifting is an underused tool, but get professional input on which assets to gift.
• If you own property in more than one state, review your plan for cross-state exposure.
• If your plan is more than a few years old, or assets have appreciated significantly, revisit it now — Oregon's exemption hasn't moved, and Washington's is now frozen at $3M.
• Business owners with income near/over $1M (or Washington-sourced income) should start planning for the 2028 millionaire's tax now.
• All of this planning only works before death — once someone has passed, it's simply a tax calculation.

Resources & Contact

• Free blogs, on-demand webinars, monthly live webinars, and downloadable e-books on estate planning, wills, trusts, taxes, and fiduciary responsibilities.
• Consultations available for estate planning tax questions and guidance on moving into/out of state jurisdictions.
• Website: caresslaw.estate. https://caresslaw.estate/

Caress Law, PC is a boutique estate planning, probate, trust administration, and tax law firm serving clients in Oregon and Washington.

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

Tammi Caress replays her guest appearance on the APM Success Podcast, where she and host Justin Harvey dig into what really happens to your family, your business, and the people you love when you're gone. The conversation covers why estate planning gets pushed to the bottom of the to-do list, how to choose the right people to carry out your wishes, and why waiting is almost always the most expensive decision a family can make.

Notable Quotes

"The most expensive administrations to settle in an estate is if you have a fiduciary who delays and doesn't act... it really drives the cost up in the estate."

"The biggest mistake I see is when they appoint someone just because of their birth order."

"If you want your kids to be friends after you're gone... a thoughtfully constructed estate plan that is concrete, communicated, and documented" is the best appeal you can make.

See More APM Podcasts - https://apmsuccess.com/

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

Disclaimer

The information in this podcast and associated materials is for general informational purposes only and is not intended to replace or serve as a substitute for legal, tax, or estate planning advice. Consult a qualified professional before making decisions specific to your situation.

Many families delay handling estate matters after a loved one passes—understandably due to grief or uncertainty—but that delay can have real financial and legal consequences. In this episode, we walk through the top cost drivers that come from waiting too long and why getting started early (even in small steps) makes a big difference.

Outline

1. Why timing matters
2. Cost driver #1: Missed Tax deadlines
3. Cost driver #2: Frozen assets and investment losses
4. Cost driver #3: Higher legal and administrative fees
5. Cost driver #4: Family Conflict and Litigation
6. Cost driver #5: Creditor Claims & Lawsuits
7. Cost driver #6: Lost of tax election and disclaimers
8. Cost driver #7: Delayed Distributions

Speak to a professional to understand timelines and take the first steps:

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Links and Resources

Download What to do when a love one dies: https://caresslaw.estate/estate-planning-resources/estate-administration-probate-checklist/

Check our website for our free on demand and live webinars: https://caresslaw.estate/estate-planning-workshops/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

In this episode of Navigating Estate Planning with Caress Law, host Tammi Caress breaks down the sweeping updates to Washington State's estate and capital gains tax laws—set to take effect July 1, 2025. From a new $3 million estate tax exemption to rates climbing as high as 35%, plus a 9.9% tax on long-term capital gains over $1 million, these changes could have major implications for your wealth, your legacy, and your planning strategy.

Don't miss Tammi's expert insights on what it all means—and how to get ahead of it.

Highlights and Takeaways

1. Introduction to Estate Planning
2. Understanding the Estate Tax
3. Changes in Estate Tax Thresholds
4. Impact of Increased Tax Rates
5. Deductions for Family Businesses and Farms
6. Strategies to Minimize Estate Taxes
7. Long-Term Capital Gains Tax
8. Conclusion and Resources

Links and Resources Mentioned

https://caresslaw.estate/estate-planning-resources/

https://www.washingtonpolicy.org/publications/detail/governor-ferguson-signs-the-largest-tax-increase-in-washingtons-history-into-law

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

In this episode of Navigating Estate Planning with Caress Law, host Tammi Caress discusses a critical and often overlooked detail in estate planning: the importance of naming your trust as an insured party on your homeowner's insurance policy.

Drawing from recent real-world events, including insurance complications following the Los Angeles County fires, Tammi highlights how failing to correctly list your trust can result in denied insurance claims and unnecessary financial loss and expands the conversation to include vehicles titled in the name of a trust.

Tune in to learn how small steps today can make a big difference in protecting your legacy tomorrow.

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

In this episode of Navigating Estate Planning with Caress Law, Tammi Caress shares real-life horror stories of clients who neglected to put estate plans in place, leading to devastating consequences for their families. From unintended heirs to business failures and guardianship battles, these cautionary tales emphasize the importance of having a will, trust, healthcare directives, and tax-saving strategies to avoid legal chaos and financial losses.

Links and Resources

On Demand Webinar: Planning for Guardianship of Minors

7 Truths (and Truths) of Estate Planning

Podcasts: Episode 7 Oregon Estate Tax: What You Need To Know

Episode 20 When There's No Will: Understanding Intestate Succession

Episode 21 Untangling the Knot: Oregon's Spousal Elective Share

Episode 25 - 2026 Estate Tax Shake-Up: Protect Your Assets Now!

Episode 26 Understanding Blended Families Part 1

Episode 27 Understanding Blended Families Part 2

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Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp

In this episode we explore the powerful yet often overlooked strategy of the Annual Exclusion Gift. Whether you're looking to give meaningful financial gifts to your loved ones without triggering taxes or seeking ways to reduce your taxable estate, understanding the Annual Exclusion Gift is crucial.

We break down what this tax-free giving opportunity is, who can benefit from it, and how to maximize its potential.

Links and Resources Mentioned

Related Podcast Episode Links:

Episode 8 - Cost Basis

https://caresslaw.estate/episode-8-cost-basis/

Episode 7 - Oregon Estate Tax

https://caresslaw.estate/episode-7-oregon-estate-tax/

Leave a 5 Star Review

https://g.page/r/CZ7knJUB7Sd8EAE/review

Connect with Tammi Caress

https://caresslaw.estate/

https://www.linkedin.com/in/caresslaw/

Follow the podcast in Apple Podcasts or Spotify

https://podcasts.apple.com/us/podcast/navigating-estate-planning-with-caress-law/id1576876621

https://open.spotify.com/show/4iGJ7mtWDeqgHExxPqKeKp