Conscientious Estate Planning For Oregonians
Estate planning is not a one-time responsibility. It is a process that requires regular consideration from an individual. People derive the most protection from establishing estate plans early in life and then routinely modifying the documents to better meet current...
Most people in the gig economy focus on building income streams, managing changing schedules and keeping up with project demands. So, it’s easy to push long-term planning aside, especially when your work shifts from month to month. Although you are not following a...
It is surprisingly easy for people to justify estate planning procrastination. Most adults convince themselves that they have all the time in the world to put documents together. They may also trust in the good nature of the people that they love. What they may not...
Many people acknowledge that drafting a will is necessary for the protection of their loved ones. However, they may put off creating documents or may try to do so with the least amount of effort possible. Frequently, people draft do-it-yourself (DIY) documents,...
In Oregon, your estate must file an Oregon estate transfer tax return if the total value is $1 million or more and you owned Oregon-taxable property. The state taxes only the amount above $1 million, using graduated rates that start at 10% and step up by brackets....
Probate proceedings help to ensure compliance with the law and estate planning instruments. They give creditors and heirs or beneficiaries an opportunity to express concerns about estate administration or the legitimacy of documents. However, probate proceedings can...
When planning an estate, family relationships and legal considerations often collide. A decision that might seem straightforward, such as leaving someone out of a will, can create lasting conflict or unintended financial consequences. Disinheriting a beneficiary may...
Estate planning is all about clarity and control, and it lets you decide who should receive your property and who should help manage your affairs if you cannot. A clear estate plan reduces stress for your family and helps protect the value of what you have built....
If you’ve recently moved to Oregon from another state and you have an estate plan (even just a will) that you created in that state, one of the things you’ll want to do relatively soon after getting settled is review your estate plan with a professional. While the...
Many parents use equal bequests when making an estate plan. A parent with three children and $300,000, for example, leaves $100,000 to each child. If a parent owns a vacation property and wants it to stay in the family, they may leave it to the next generation as a...