Conscientious Estate Planning For Oregonians
Estate planning generally involves identifying resources, choosing beneficiaries and drafting legally-sound documents. Valuable resources often require more careful consideration than basic personal property. Business holdings, including professional practices, family...
During estate planning, people try to provide for their loved ones and protect their valuable resources. Many testators establishing their initial plans focus on protecting specific assets. The primary residence of the testator may be their most valuable possession....
A significant percentage of American adults do not have an estate plan. While they may have different reasons for not starting estate planning, some are more common. So, what are the “excuses” Americans give for not having an estate plan? Here are three of them:...
Many people believe estate planning is only about preparing for the transfer of assets after death. In reality, estate planning is a broader process that protects your wishes during life and after, while reducing confusion and stress for your loved ones. A thoughtful...
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...