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COMMUNICATION
Institutional Strategies
The 2026 Washington State Legislative Session was quite active for a short 60-day session. Despite the short session, multiple changes were made regarding the Business & Occupation tax, Sales tax, Estate tax, and Capital Gains tax.
As expected, the March inflation report came in hot. Consumer Price Index (CPI) rose 0.9% month over month and 3.3% year over year - the largest monthly move in nearly four years.
While headlines remain dominated by geopolitical developments and ongoing conflict abroad, a steady stream of economic data continues to provide valuable insight into the U.S. economy’s underlying health.
Opening a Washington office had long been a goal for Ferguson Wellman. In 2021, as businesses globally grappled with remote work transitions, we established our first office in the state.
Even the best estate plan will go sideways without the right fiduciaries ready to step in and manage your affairs when you are no longer able to do so, whether by reason of death or incapacity during lifetime. It can be difficult to make these selections, considering family dynamics, time burden, availability, cost and the skills required. Thoughtful consideration in advance will be a gift to your loved ones when they may be called to enact your wishes.
It is easy to put off creating or updating an estate plan. Afterall, most of us believe we have at least a bit more time before it will be necessary and the excuses are obvious and plentiful. Herein, we will outline common impediments and corresponding benefits of a relevant plan with the intent of encouraging us all to take on the challenge.
When we think of estate planning, we often think of legal documents, trusts and tax strategies. Often, the most challenging aspect of creating a successful plan is the human element: your family’s unique dynamics. The good news is that many common conflicts are predictable and can be reduced with planning and clear communication.
Software stocks have experienced a selloff of over 30% since October 2025, largely driven by uncertainty around the competitive risks of artificial intelligence (AI). While AI will have a significant impact on software companies, the more relevant question for investors is understanding if it is an opportunity or a risk for individual businesses.
In the first quarter, several market-disrupting events took place: the Supreme Court struck down International Emergency Economic Powers Act (IEEPA) tariffs, war began in the Middle East, oil prices rose over 70%, expectations for two Federal Reserve rate cuts evaporated and AI substitution fears triggered a 20% selloff in software stocks, the S&P 500’s second-largest industry. While none of these are positive developments for the capital markets, the fact that the S&P 500 is only down 4% year-to-date suggests the economic fallout may be much less than the current headlines suggest (as of March 31, 2026).
