Navigating Estate Planning with Caress Law (Tammi Caress)

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.

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

1. What is a Financial Power of Attorney (POA)?
2. Why Financial Institutions may not accept POAs.
3. Alternative Strategies
4. Family Protector Program for Caress Law clients

Links and Resources Mentioned

[Episode 6] What is a Fiduciary and How to Choos the Right One

https://caresslaw.estate/episode-6-what-is-a-fiduciary/

[Episode 5] Revocable vs. Irrevocable Trusts: What’s The Difference?

https://caresslaw.estate/episode-5-revocable-vs-irrevocable-trusts/

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

Free Workshops: https://caresslaw.estate/estate-planning-workshops/

Leave a 5 star review: https://g.page/r/CZ7knJUB7Sd8EB0/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

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:

1. Estate Taxes – What are they?
2. Estate Tax Exemption
3. Gift taxes
4. Expiration of the Federal Exemption Amount
5. Planning Opportunities
6. Life Insurance
7. Consult with Professional

Leave a 5 Star 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

Joining host Tammi Caress in this episode of Navigating Estate Planning with Caress Law is Lori Eckel, a certified clinical social worker who focuses on palliative care, hospice, and serious illness. Tammi and Lori discuss the significance of living wills and advanced directives, emphasizing the part they play in a person's priorities and values, and when it's best to start advanced care planning.

Key Takeaways:

1. Purpose of Advanced Directives
2. Beyond End-of-Life Decisions
3. Involving Appointed Representatives
4. Role of Healthcare Providers
5. Optimal Timing for Advanced Care Planning

How to contact Lori Eckel: https://www.lorieckel-lcsw.com/

Resources:

Conversation Project: https://theconversationproject.org/

Prepare for Your Care: https://prepareforyourcare.org/en/welcome

Caress Law Resources: https://caresslaw.estate/estate-planning-resources/

Caress Law Free Workshops: https://caresslaw.estate/estate-planning-workshops/

Connect with Tammi Caress

https://caresslaw.estate/

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

The only thing more important than having fiduciaries in place in the event of incapacity or death, is who you choose to represent you and your family when the time comes. In this episode, you will learn what a fiduciary is and how to choose the right person to carry out your wishes.

Links and Resources Mentioned

Blog: https://caresslaw.estate/power-of-attorney/power-of-attorney-how-to-choose-the-right-agent

Connect with Tammi Caress

https://caresslaw.estate/

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

Do you need a Pour Over Will?  The answer may surprise you. In this mini episode, we go over the Pour Over Will and when it is needed in your estate plan.

Links and Resources Mentioned

Should I Have a Will or a Trust?

 https://caresslaw.estate/episode-1-should-i-have-a-will-or-a-trust

What is Probate, and Can it be Avoided?

https://caresslaw.estate/episode-2-what-is-probate-and-can-it-be-avoided

Connect with Tammi Caress

https://caresslaw.estate/

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

Is your spouse entitled to a certain share of your estate? In this episode Tammi Caress discusses Oregon’s Elective share, the amount a spouse is entitled to receive, and how planning ahead can save time and expense for your loved ones.

Connect with Tammi Caress

https://caresslaw.estate/

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

Does a Will avoid probate? Will the state take my assets if I die without a Will? Should I name my eldest child executor of my estate? These questions are answered in this episode while we bust the common myths of estate planning.  

Subscribe to the podcast and listen to past episodes where we dive deeper into some of the myths and topics covered in this episode.

Common Myths of Estate Planning On-Demand Workshop: https://caresslaw.estate/estate-planning-workshops/7-truths-and-untruths-of-estate-planning/

Connect with Tammi Caress

https://caresslaw.estate/

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

Have you been told you need a trust but don't understand why or what a trust is? Do you think a Will avoids probate? This episode breaks down the differences between a Will and a Trust and why you may need one, or both, and discusses the effect each has on you and your loved ones

Links and Resources Mentioned

Estate Planning Primer: https://caresslaw.estate/estate-planning-resources

Blog - Difference Between Wills and Trusts: https://caresslaw.estate/estate-planning/probate-questions-answers 

https://caresslaw.estate/

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

How would you feel if you had no control over who inherited from you? This is precisely what happens when a person passes away without a will: they give up their freedom to choose who their beneficiaries are and how they inherit.

In this episode we discuss what it means to die intestate (without a Will) and the impact it has on those you leave behind.

Links and Resources Mentioned

What is Probate and Can it be Avoided podcast episode

https://caresslaw.estate/episode-2-what-is-probate-and-can-it-be-avoided/

Free On Demand Workshops: https://caresslaw.estate/estate-planning-workshops/

Business google review: https://g.page/r/CZ7knJUB7Sd8EB0/review

Connect with Tammi Caress

https://caresslaw.estate/

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

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

Should I have a Will or a Trust

https://caresslaw.estate/episode-1-should-i-have-a-will-or-a-trust/

Spousal Elective Share

https://caresslaw.estate/podcast-oregon-spousal-elective-share/

On Demand Workshop: Planning for Guardianship of Minors

https://caresslaw.estate/on-demand-workshop-guardianship-of-minors/

Business google review: https://g.page/r/CZ7knJUB7Sd8EB0/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

While most of us have heard of “trusts,” few understand the differences between the various types of trusts, specifically revocable and irrevocable trusts. When it comes to estate planning, these two types of trusts are discussed most often. Learn about the differences between these types of trusts—and when (and how) they should be used.

Links and Resources Mentioned

Blog: https://caresslaw.estate/estate-planning/what-to-consider-when-deciding-between-a-revocable-and-irrevocable-trust

Connect with Tammi Caress

https://caresslaw.estate/

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

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 Cover

1. Understanding Blended Families

2. Common Estate Planning Goals for Blended Families

3. Unique challenges faced by blended families

4. Potential risks and conflicts without proper planning

Links and Resources Mentioned

Spousal Elective Share: Episode 21

On Demand Workshop: Planning for Guardianship of Minors 

Business google review: https://g.page/r/CZ7knJUB7Sd8EB0/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

In this episode of "Navigating Estate Planning with Caress Law," host Tammi Caress dives into the often-overlooked yet crucial topic of including pets in your estate plan. With her beloved golden retriever by her side, Tammi emphasizes the emotional bond we share with our furry companions and offers actionable steps to ensure their care even after we're gone.

Key Points Covered:

• Personal Connection to Pets
• Importance of Pet Planning in Estate Plans
• Incorporating Pets into Estate Plans
• Choosing Caretakers for Pets
• Alternative Options for Pet Care

Recommended Action Items:

• Review and update estate plans to include provisions for pets.
• Consider potential caretakers and trustees for pets' well-being.
• Explore options such as pet trusts and charitable programs for pet care.

Google Business Review: https://g.page/r/CZ7knJUB7Sd8EB0/review

Connect with Tammi Caress

https://caresslaw.estate/

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

Tammi 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 Caress shares with you the importance of transparency with your estate planning attorney. 

Key Points:

• Transparency with Your Estate Planning Attorney
• Understanding Beneficiary Histories
• Living-in Persons in Your Home
• Non-Blood Related Family Members
• Special Needs Beneficiaries
• Anticipating Family Dynamics and Conflicts
• International Considerations
• Health Status Disclosure
• Updates on Life Changes

Google review: https://g.page/r/CZ7knJUB7Sd8EB0/review

Connect with Tammi Caress

https://caresslaw.estate/

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

Most people hear about the federal estate tax, but what about Oregon's estate tax?  In this episode, we review the Oregon estate tax, help you determine if your estate will be subject to this tax, and offer a few planning opportunities you can do now to minimize the estate tax burden.

Links to Form OR-706

https://www.oregon.gov/dor/forms/FormsPubs/form-or-706-inst_104-001-1_2021.pdf

Connect with Tammi Caress

https://caresslaw.estate/

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

Cost basis is not a glamorous topic, but it affects everyone. What is cost basis and how do you calculate cost basis? This episode will teach you what cost basis is and how it affects you and your loved ones during your life and upon death. 

Links and Resources Mentioned

https://www.forbes.com/sites/baldwin/2011/03/25/how-to-calculate-a-cost-basis-for-your-stock/?sh=4e2ae08b6a37

https://www.forbes.com/sites/kellyphillipserb/2012/01/19/got-stock-cost-basis-rules-may-impact-taxes/?sh=23b76b94418a

https://www.forbes.com/advisor/taxes/capital-gains-tax/

Connect with Tammi Caress

https://caresslaw.estate/

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

In this episode, host Tammi Caress emphasizes the crucial importance of properly signing a Last Will and Testament to ensure its validity. She shares some jaw-dropping tales of what happens when wills aren't signed correctly—think unexpected heirs and family drama.

Tammi’s advice? Get a pro, follow the rules, and keep the peace (and your wishes) intact!

What You Will Learn:

1. Importance of Proper Will Execution
2. Case Studies of improperly signed wills
3. State Law and Intestate Succession
4. Legal Requirement for a Valid Will
5. Special Circumstances to Will Signings
6. Are E-signatures Valid?

Links and Resources

Episode 21 Untangling the Knot? 

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

 Business google review: https://g.page/r/CZ7knJUB7Sd8EB0/review

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

Welcome to Navigating Estate Planning with Caress Law. Meet your guide Tammi Caress.

Connect with Tammi Caress

https://caresslaw.estate/

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

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

You may have heard of probate, but do you know what it is? Many people do not understand the probate process when it is required at death and if your estate will be subject to it. In this episode, we break down the probate process, when probate is required at death, and the documents that go through probate or will avoid probate at death.

Connect with Tammi Caress

https://caresslaw.estate/

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

Tammi 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.

Google review: https://g.page/r/CZ7knJUB7Sd8EB0/review

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:

 https://caresslaw.estate/?s=advance+estate&et_pb_searchform_submit=et_search_proccess&et_pb_include_posts=yes&et_pb_include_pages=yes

Connect with Tammi Caress

https://caresslaw.estate/

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

Creating your Revocable Trust is the first step to protecting you and your family; however, in order to have the benefits the Revocable Trust offers, the trust creator (Trustor, Grantor, Settler) has the homework of titling their assets in the name of the newly created trust. This episode will walk you through that process and once finished, show you how easy the trust is to maintain going forward. 

I chose this topic so that listeners can use this episode as a guide when funding their trust and to help those considering a revocable trust get comfortable with the idea. Once done, your everyday financial life does not change, and you have peace of mind that your wishes will be carried out as intended.

I have loads of resources on my website caresslaw.estate, including on-demand webinars on various topics geared to help you and your loved ones, both during your life and after death. 

What You Need to Know About Funding Your Trust

1. Assets that should be titled to the trust

2. All about the certificate of trust

3. How to place assets under your Trust umbrella (title assets to your trust) (a) Cash Equivalent assets (b) Securities (c) Real Property (d) Tangible Personal Property (e) Business Interests (f) Vehicles

4. IRAs/401ks and other Qualified Plans

5. Maintaining your Trust, once funded

6. Life Insurance

Links and Resources

https://caresslaw.estate/podcast/should-i-have-a-will-or-a-trust

Connect with Tammi Caress

https://caresslaw.estate/

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

In this podcast episode, Tammi Caress, founder of Caress Law, delves into the power of disclaimers in estate planning to minimize estate taxes and maximize inheritance. Through clear explanations and illustrative examples, listeners gain insights into how disclaimers can strategically shape one's legacy. Tammi emphasizes the importance of timely action, coordination with a professional estate planning team, and regular reviews to ensure the effectiveness of the estate plan over time.

Key Topics

1. What is a disclaimer?
2. Estate Tax Overview
3. How the disclaimer plan works to minimize estate taxes
4. Benefits of Disclaimer Planning
5. Key Considerations in Disclaimer Planning

Google Review link: https://g.page/r/CZ7knJUB7Sd8EB0/review

Connect with Tammi Caress

https://caresslaw.estate/

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

Estate Planning is not just about planning for your death. Just as important are documents that allow someone to help if you become incapacitated. Learn about the most important documents every young adult should have in place.

Links and Resources 

Blog: Advance Directives, Power of Attorney & Other Estate Planning Documents Your College Student Needs: https://caresslaw.estate/estate-planning/estate-planning-documents-your-college-student-needs

https://caresslaw.estate/

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

Many people make a will and think they have ensured their loved ones will inherit their assets at death. In this episode, we will go over title of assets and the effect it has on how assets pass at death. You will be surprised at the results! Connect with Tammi Caress https://caresslaw.estate/

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

Understanding your estate is crucial for securing your legacy and protecting your loved ones' futures. Join us in this episode as we demystify the term 'estate' and explore its profound impact on your estate plan.

Understanding the Estate

• An estate comprises all your assets, regardless of their value, including:

• Real property (e.g., homes, land)
• Cash equivalent accounts (e.g., savings, money market)
• Stocks, bonds, and investment accounts
• Business interests (e.g., LLCs, partnerships)
• Life insurance policies
• Retirement accounts (e.g., IRAs, 401ks)

• Key point: Nearly everyone has an estate, regardless of wealth.

Importance in Estate Planning

• Different assets have varying inheritance processes:

• Assets with beneficiaries bypass the will and probate process.
• Jointly owned assets transfer directly to the surviving owner.

• Wills control probate assets, while trusts govern trust assets.
• Proper titling and beneficiary designations are crucial for asset distribution according to wishes.

Types of Estates

• Probate Estate:

• Governed by the will, includes assets without designated beneficiaries or joint owners.
• Subject to probate proceedings for distribution.

• Trust Estate:

• Assets owned by a trust, managed according to trust terms.
• Avoids probate and provides privacy in asset distribution.

Tax Implications

• Estate tax applies to the total value of assets at death.
• Thresholds for filing estate tax returns vary by state:

• In Oregon, over $1 million; in Washington, just under $2.2 million.

• Proper estate planning can minimize tax liabilities through strategic asset management.

Conclusion and Resources

• Preparation is key: Maintain a detailed asset list with current titling and beneficiary information.
• Caress Law offers resources such as on-demand classes and live webinars for comprehensive estate planning education.

• https://caresslaw.estate/estate-planning-workshops/7-truths-and-untruths-of-estate-planning/
• https://caresslaw.estate/episode-3-the-effect-of-account-titling-and-beneficiary-designations-in-your-estate-plan/
• https://caresslaw.estate/episode-2-what-is-probate-and-can-it-be-avoided/

• Visit www.caresslaw.estate  for access to workshops and further guidance on estate planning.

In this episode, we explore the intricacies of estate planning and highlight seven common mistakes individuals often make when crafting their estate plans. From procrastination to neglecting digital assets, our discussion aims to empower listeners with the knowledge to navigate these pitfalls and secure their legacy.

In this episode you will learn from the mistakes of others and be given tools to prevent making similar mistakes yourself. Here are some of the topics covered:

• DIY Wills and Trusts

• Working with an Estate Planning Attorney to minimize taxes

• Who to choose as your executor or trustee

• How to plan for your digital assets

• Funding your revocable trust

• Minimizing delays and estate complications

If you like the show, please subscribe and tell your friends and family about our show. 

Tune in to safeguard your assets and ensure your wishes are honored in this crucial aspect of Estate planning.

Connect with Tammi Caress

https://caresslaw.estate/

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

Tammi Caress is the founder of Caress Law, PC, a boutique estate planning, probate, and trust administration firm servicing clients in Oregon and Washington. After 20 years of practice, Tammi shares real-life mistakes her clients have made that cost them time, money, and peace of mind.

Creating your Revocable Trust is the first step to protecting you and your family; however, not all assets can or should be owned by your revocable trust. This episode address how to pass those assets to your loved ones while still avoiding the probate process.

Links and Resources Mentioned

https://caresslaw.estate/podcast/i-created-a-revocable-trust-now-what 

https://caresslaw.estate/podcast/what-is-probate-and-can-it-be-avoided 

Connect with Tammi Caress

https://caresslaw.estate/

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