After over three decades in the trust management business, we have built-up an endless collection of stories, experiences and industry insights. We have written about these lessons learned in bi-annual newsletter articles. These articles will help you understand what we do as trustee and how you can benefit from our services, mostly through the use of real stories from our business.
ANNOUNCEMENTS
Here you'll find important announcements about exciting things happening with the Northwest Trustee team.
Our Spokane office has moved!
Your Trust is our Business®. . . Anywhere From starting in the basement of our founders home, to spending over 30 years in the same office building, Northwest Trustee & Management Services, LLC, now has a new “home” for our Spokane office, located at: 111 West CataldoSpokane, Washington 99201 Change is the heartbeat of growth…
Business Development in Idaho
We separate new business from client administration so our Relationship Teams can focus on what is most important…serving our clients.
Journey to the Puget Sound
Stephen Trefts, President & Founder
An incredible journey started as a vision, born in the basement of our modest home more than 30 years ago, that led us to open an office in the Puget Sound.
Transitions & Reflections
In September of 2024, Stephen Trefts will be stepping down from his duties at Northwest Trustee & Management Services. As he reflects on this transition, he would like to take you through the experiences that made Northwest Trustee what it is today.
Becoming a State Chartered Trust Company
Stephen Trefts, President
By achieving the designation of a state chartered trust company, and with our new capabilities under the recently enacted directed trust laws, we are even better equipped to provide your clients with creative solutions to their complex fiduciary needs.
Welcome Capstone!
We are thrilled to welcome Capstone Trust to the Northwest Trustee & Management Services’ family! The team from Capstone Trust is now part of Northwest Trustee, where we remain committed to offering trust and estate solutions.
Idaho, we have arrived
Stephen Trefts, President
By creating a permanent presence in Boise, we have increased our ability to provide the unique services of an independent, non-bank, chartered Trust Company to residents all across Idaho.
Celebrating 30 years
Our business has transformed into a leading independent trust company that spans across Washington, Oregon, Idaho and Alaska.
SELECTING A TRUSTEE
The choice of who you chose as trustee will mean everything to you and your beneficiaries when it comes time to implement your estate plan. These articles will give you more information when you are considering who to hire.
The Best Choice versus the Common Choice
The pitfalls of naming a family member or friend as Trustee or Personal Representative are highlighted in this article. We hope these stories assist you in selecting the best fiduciary for your plans.
Location, Location, Location!
We provide clients with exceptional, personalized service to better meet their needs — whether they live down the road or halfway around the world
Deja Vu: Return of the 2012 tsunami
Greg Bowman, CEO
Let us help you with the tsunami of new trusts created by the end of this year.
The Duties of a Fiduciary
Cam McGilivray, Trust Officer
Entering a fiduciary relationship carries serious responsibilities. In Washington, trustees are guided by both the terms of the trust document and by statutes pertaining to trusts. This article outlines what can happen if there is a breach of fiduciary duty, as well a highlight some of the laws.
Real Examples of Financial Exploitation
Stephen Trefts, President
Financial exploitation is often financially and emotionally devastating to the exploited individual. The following true stories illustrate the complexity of the problem, and highlight some ways to prevent it from happening in the first place.
5 Easy Ways to Destroy an Estate Plan
Sandy Calbreath, Trust Officer
When it comes to estate planning, the best laid-plans can derail because of simple oversights over time, or errors in judgement. Here are some ways to help this not happen to you.
Common Pitfalls for a Trustee
Stephen Trefts, President
Occasionally a trustee is replaced because of malfeasance. More commonly, the trustee is simply unable to fulfill his or her duties due to a lack of knowledge or skills, too little time, or because of interpersonal conflicts.
BENEFITS OF TRUSTS
Federal Tax Change Announced
Greg Bowman, CEO
Proposed federal tax changes — it’s not too late to reassess your estate planning.
Using a Charitable Trust to Meet Your Family Needs
Sandy Calbreath, Trust Officer
Charitable trusts are a great way to provide for your family and also leave something for the community. The story of Maurice shows how this benefits everyone.
Staying in Charge – The Benefits of a Revocable Living Trust
Sandy Calbreath, Trust Officer
Losing control over your life or finances can make anyone feel anxious. Revocable living trusts are a great way plan for the future, and still remain in control of your finances for as long as you are able. This story of Lowell and Geraldine highlights these benefits.
Stretching Your IRA Using a Charitable Trust
Sandy Calbreath, Trust Officer
IRA’s often form a significant part of most estate plans. Using a Charitable Remainder Trust can be used to reduce taxes, ensure professionally managed assets during the lifetime of the beneficiary, and ultimately benefit a deserving charity.
Trusts for the Benefit of Your Children
Stephen Trefts, President
Trusts for children come in many different forms and can be crafted to meet the needs of each individual child. Following are examples of the possibilities available to provide for children through proper trust planning.
Building an Endowment through Planned Giving
Stephen Trefts, President
Planned giving programs are an extremely effective way to help the charitable organizations you are passionate about. Over the years, it has brought me great satisfaction to witness firsthand the generosity of our clients support their charitable causes well beyond their lifetime.
The Bering Sea, the cure for Alzheimers and Directed Trusts
Greg Bowman, CEO
This article highlights how the increased use of “directed trusts” in the Northwest has provided increased control and flexibility for families while still accomplishing their tax and estate planning goals.
IMPORTANCE OF ESTATE PLANNING
Using Estate Management to Remedy Financial Exploitation
Sandy Calbreath, Trust Officer
Losing a spouse is hard enough, but becoming a victim of financial exploitation is something no one should have to go through. This is the story of one of our clients who we helped out of exploitation through a keen-eyed investment advisor.
Signs of Financial Exploitation
Stephen Trefts, President
It is heartbreaking to watch the elderly become victim of financial exploitation. In this article we explore what financial exploitation is, some red flags to identify when it is happening, and how to avoid it.
6 Ways to Start a Family Feud
Stephen Trefts, President
After many years in the trust and estate management business, we have found that there are several common estate planning errors that will inevitably start a family war when it comes time to implement that plan.
Year-End Estate Planning Crunch — We Can Help!
Greg Bowman, CEO
Let us help you look good with your clients by helping you guide them through the 2021 estate planning efforts.
Why Appoint a Professional for Probate and Estate Settlement
Sandy Calbreath, Trust Officer
The task of taking an estate through probate and estate settlement is often more than you might expect.
The Effects of ‘Do-It-Yourself’ Estate Planning
Sandy Calbreath, Trust Officer
After spending a lifetime building your estate, a “do-it-yourself” attempt at estate planning can result in a legacy of confusion. This is a brief story of one of our clients who left just such a legacy.
HOW WE SERVE OUR CLIENTS
Why Appoint a Professional for Probate and Estate Settlement
Sandy Calbreath, Trust Officer
The task of taking an estate through probate and estate settlement is often more than you might expect.
New Laws Herald New Trust Opportunities in the Northwest
Greg Bowman, Vice President, Finance & Business Development
A directed trust allows a person creating a trust to direct specific duties of the trust to a third party, rather than conferring all authority and duties to a trustee. Before Washington allowed for this, you would have to go to a trust company in another state to receive this service, such as Delaware or South Dakota. Now you can have the benefit of a local trust management company who can provide with these services.
What we do as Guardian of the Estate
Lavonda Ataid, Trust Officer
Guardianship laws create solid accountability to the court and the incapacitated person. They set a high bar for both professional and non-professional guardians that will ultimately benefit the most vulnerable persons who are depending on us for their care and financial well-being.
Rebuilding With Our Beneficiaries
Stephen Trefts, President
When our hardworking and resourceful trust beneficiary lost everything in the Carlton Complex Fires, we were able to partner with her as she rebuilt her life.
Resolving Conflicts
Stephen Trefts, President
Conflicts are a fact of life, but unresolved conflicts can tear families apart. Our role as trustee is to resolve the disputes fairly and administer the trust impartially. This article highlights how estate planning decisions can cause conflicts, and how we go about resolving them.
Managing Complex Assets
Sandy Calbreath, Trust Officer
Managing a trust is complicated. Considering the following real-life trust situation where we stepped in to manage a trust that was in disarray.
Perspectives on Inheritance – Part 1 of 3
Stephen Trefts, President
“Wealth never creates wisdom. Wisdom may create wealth. If you pass wisdom to your children, you probably can pass wealth to them. If they have enough wisdom, then they may not need your wealth.” In this newsletter, we pose 4 questions to help in the process of passing down your wisdom along with your wealth
Perspectives on Inheritance – Part 2 of 3
Stephen Trefts, President
William Vanderbilt once famously stated, “Inherited wealth is as certain death to ambition as cocaine is to morality.” The following is a discussion around balancing the unique needs of all heirs, and taking measures to prepare them for an inheritance.
Perspectives on Inheritance – Part 3 of 3
Stephen Trefts, President
By allowing your family to participate in your estate plan, you can experience the fruits of your labor as you see your wealth put into action during your lifetime. In this newsletter, we highlight some thoughts on wealth transfer during your lifetime, as part of your estate plan.
Managing Personal Residence to Meet the Needs of the Beneficiary
Sandy Calbreath, Trust Officer
Many of our trusts include the residence of the beneficiary. The following summary explains how we manage property within our trusts.
Meeting the Needs of our Beneficiaries Through All Life Stages
Stephen Trefts, President
This story of Margaret shows how we walk alongside our beneficiaries to ensure their needs are met through all the stages of life.
Trusts for the Benefit of Your Children
Stephen Trefts, President
Trusts for children come in many different forms and can be crafted to meet the needs of each individual child. Following are examples of the possibilities available to provide for children through proper trust planning.
Help When You are in Over Your Head – Agency Agreements
Sandy Calbreath, Trust Officer
Agreeing to serve as trustee or attorney-in-fact under a Power of Attorney seems like reasonable task when your friend or family member is not incapacitated. However, the task can easily become a burden when it comes time to make difficult decisions or enter into complicated family dynamics. An Agency Agreements allows you to remain in control, and at the same time have help with the administrative tasks involved.
Housing Decisions for Senior Adults
Sandy Calbreath, Trust Officer
Where a person lives out the remainder of his or her life is a very important decision. As trustee, we understand that each individual’s needs are different and find the living arrangement that will best meet those needs.
Making Discretionary Decisions
Stephen Trefts, President
Discretionary decision making is a big part of being a trustee, and one that effects beneficiaries greatly. While there is no mechanical formula that can be used, this article identifies certain land marks we look for on the road to the right decision.
Making Trust Payout Decisions
Stephen Trefts, President
The language of the trust document determines how we make trust payout decision. This article addresses the nuances of several common distribution types to take into consideration when creating trust documents.
Creating Solid Investment Plans
Stephen Trefts, President
In the face of economic storms, how does a trustee make wise investment decisions? There are several steps we take to create a trust lifeboat in the sea of these turbulent financial times.