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7 Financial and Legal Resolutions for the New Year
As the year comes to a close, many families reflect on their health and finances. But one area that often gets overlooked in the New Year’s resolution list is estate planning. A few simple resolutions can protect your loved ones, minimize taxes, and give you peace of mind for the year ahead.
When families think about estate planning, they usually picture wills and trusts. But one of the most common mistakes we see isn’t about those documents at all—it’s about beneficiary designations.
Beneficiaries are named on accounts like life insurance policies, retirement plans, and payable-on-death bank accounts. These designations determine where the money goes when you pass away. The problem? Beneficiary designations override your will or trust.
How to Use Gifting Strategies Before Year-End to Reduce Estate Taxes
The holidays are a season of giving. For many families, that generosity extends beyond presents under the tree. Smart financial gifting can reduce your taxable estate, provide meaningful support to loved ones, and even create opportunities for charitable impact.
Charitable Giving Through Your Estate Plan: Smart Ways to Maximize Tax Benefits
The holiday season is a time of giving—and charitable gifts can be one of the most meaningful parts of an estate plan. Beyond supporting causes you care about, charitable strategies can also reduce estate taxes, leaving more for your heirs.
As the year draws to a close, many of us reflect on what we’ve accomplished and where we want to go. But there’s one task that often gets overlooked: making sure your estate plan is up to date.
For families in Washington and Oregon, year-end is the perfect time to review your documents, update your fiduciaries and beneficiaries, and ensure your plan still matches your life. A little preparation now can save your family thousands later—and give you peace of mind heading into the new year.
When families begin estate planning, they often feel overwhelmed by the terms: trustee, executor, personal representative, attorney-in-fact, guardian, conservator. What do they all mean, and who should you choose for each role?
Understanding fiduciary roles is critical because these are the people who will carry out your wishes when you cannot. Choosing wisely can mean the difference between a smooth transition and a costly, painful family dispute.
For many families, the roles eventually shift: parents who once cared for their children now need their children to help care for them. In the Pacific Northwest, we’re seeing more adult children stepping into these roles—sometimes gradually, sometimes suddenly after a health crisis.
While the emotional weight of this shift is significant, the practical challenges can be even greater without proper planning. Estate planning is one of the most powerful tools adult children can use to prepare for their parents’ future—and their own peace of mind.
Protect your loved one’s finances before they become incapacitated. Learn key tools to avoid court delays and costly guardianships.
Imagine this: your father, who has always paid the bills on time and managed his investments carefully, suffers a sudden stroke. While he recovers in the hospital, you realize you have no legal authority to access his accounts, pay his mortgage, or even speak to his bank. Weeks go by, and late notices begin piling up. The only option? A stressful, costly guardianship or conservatorship process through the court.
Unfortunately, we’ve seen this scenario play out for families across Washington and Oregon—and it’s entirely preventable.
November is National Family Caregivers Month, a time to honor the millions of people who step in to care for aging parents, spouses, or loved ones facing illness. At Pettis Webber Pacific, we see caregivers every day—devoted daughters, steadfast spouses, and caring sons—doing extraordinary work.
But caregiving without legal support can be overwhelming. Without the right documents, even paying bills or speaking to a doctor can be a struggle. That’s why every caregiver needs a legal toolkit.
When someone loses the ability to make decisions and hasn’t done proper planning, families often have no choice but to go through the courts for guardianship or conservatorship.
Guardianship (for personal affairs) and conservatorship (for financial affairs) are legal processes where the court appoints someone to manage another person’s financial and personal affairs. While sometimes necessary, it is:
