Strategic Legacy Building: Advanced Strategies in Estate Planning
Navigating Estate Planning with Caress Law
Release Date: 03/21/2024
The Clock is Ticking: How Delays Drain Estates
Navigating Estate Planning with Caress Law
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 Why timing matters Cost driver #1: Missed Tax deadlines Cost driver #2: Frozen assets and investment losses Cost driver #3: Higher legal and administrative fees Cost driver #4: Family Conflict and Litigation Cost driver #5: Creditor Claims &...
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Big Tax Changes Are Coming to Washington — Are You Ready?
Navigating Estate Planning with Caress Law
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 Introduction to Estate Planning...
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Naming Your Trust as an Insured Party
Navigating Estate Planning with Caress Law
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...
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Estate Planning Horror Stories: The Cost of Inaction
Navigating Estate Planning with Caress Law
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: Podcasts: Connect with Tammi Caress Follow the podcast in Apple...
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Tax-Free Treasure with Annual Exclusion Gifts
Navigating Estate Planning with Caress Law
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: Connect with Tammi Caress Follow the podcast in Apple Podcasts or Spotify
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Understanding Blended Families: Navigating Estate Planning and Unique Challenges Part 2
Navigating Estate Planning with Caress Law
Welcome to today's episode, where we dive into the essentials of estate planning with a focus on blended families. We'll explore the critical documents in an estate plan for blended families, the consequences of not having a Will or Trust, and how each can benefit blended families. Plus, we'll discuss planning for minor children, stepchildren, and how to navigate spousal considerations and family dynamics in a comprehensive estate plan. Stay tuned as we break down practical steps to ensure your plan is up-to-date and aligned with your wishes. Links and Resources Mentioned ...
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Understanding Blended Families: Navigating Estate Planning and Unique Challenges Pt. 1
Navigating Estate Planning with Caress Law
In this episode, we're diving into the world of blended families, uncovering the unique challenges they face in estate planning. From juggling the needs of biological and stepchildren to ensuring fair distribution of assets, we'll explore the emotional and financial intricacies that can arise when two families blend into one. Join us as we provide valuable insights and practical tips to create a rock-solid estate plan that keeps the peace and protects everyone's interests. Get ready for an engaging and eye-opening discussion that's crucial for every blended family! In This Episode We...
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2026 Estate Tax Shake-Up: Protect Your Assets Now!
Navigating Estate Planning with Caress Law
The Federal Estate Tax has quietly stayed in the background for most, thanks to its high amount that can pass tax free at death. But starting January 1, 2026, everything changes, potentially impacting many more estates. Tune in to our podcast for essential strategies to reduce your tax burden and protect your legacy before it's too late! In this Episode: Estate Taxes – What are they? Estate Tax Exemption Gift taxes Expiration of the Federal Exemption Amount Planning Opportunities Life Insurance Consult with Professional Connect with Tammi Caress Follow the podcast in Apple...
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The Powerless Power of Attorney
Navigating Estate Planning with Caress Law
Today’s episode discusses the financial durable power of attorney, which is crucial in the management of your financial affairs if you're incapacitated. It is critical to guarantee that financial institutions honor this document, since their internal procedures may impede its acceptance at the time it is needed most. What You Will Learn What is a Financial Power of Attorney (POA)? Why Financial Institutions may not accept POAs. Alternative Strategies Family Protector Program for Caress Law clients Links and Resources Mentioned [Episode 6] What is a Fiduciary and How to Choos...
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Selling Property in Probate with Mark Charlesworth
Navigating Estate Planning with Caress Law
In this episode, Tammi sits down with real estate expert Mark Charlesworth to delve into the intricacies of the probate process and selling property under probate. They explore key aspects to watch for, including how to avoid predatory tactics, and emphasize the critical role of professional guidance during this challenging time. Connect with Mark Charlesworth Mark Charlesworth and the Mark Charlesworth Real Estate Team: Connect with Tammi Caress Follow the podcast in Apple Podcasts or Spotify Links and Resources Need to brush up on the probate process? See Episode...
info_outlineTammi Caress is the founder of Caress Law, PC, a boutique estate planning, probate, and trust administration firm servicing clients in the States of Oregon and Washington. In today’s episode, Tammi shares advanced estate planning strategies to minimize estate taxation and pass more wealth to your loved ones.
Key Points:
- Overview of estate and gift taxes, emphasizing thresholds for taxation at federal and state levels.
- Techniques discussed:
- Tax-free gifts up to $18,000 per individual annually.
- Direct payment of tuition and medical expenses to institutions.
- Charitable contributions and trusts for tax deductions and reducing estate tax burden.
- Irrevocable trusts such as charitable remainder trusts and grantor retained annuity trusts.
- Family limited partnerships to reduce estate tax through minority interest discounts.
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If you want written materials on the subject, please click on the link to our blog:
7 Advanced Estate Planning Strategies to Reduce Estate Taxes:
Connect with Tammi Caress
https://www.linkedin.com/in/caresslaw/