When I talk to a client about an estate plan, I find myself often using the phrase “express your wishes.” An estate plan is not just about saying who gets what assets. It’s also about saying how the transfer should be accomplished and what the assets should be used for. Similarly, creating documents that say […]
Read More»Yesterday’s Oregonian detailed the latest in what seem to be an unending series of abuses of children in foster care under the supervision of Oregon’s Department of Human Services (http://www.oregonlive.com/pacific-northwest-news/index.ssf/2013/06/salem_foster_parent_who_abused.html). What happens when a parent is in a coma after a car accident or medical emergency? What if a spouse is out of town or […]
Read More»Estate planning is important. Sure, it may be a key part of your plan to minimize estate taxes or to make sure that nephew Billy gets your baseball card collection. But it may be much more important to express your values: to support nephew Billy’s hard-working entrepreneurial spirit, to help a local hospital provide better […]
Read More»An estate plan is especially important for parents. They can nominate guardians and set up testamentary trusts for their kids, to provide guidance for distribution of assets so that the funds are not distributed in their entirety when a child turns 18. I also create a Durable Power of Attorney for Childcare: a detailed, legal […]
Read More»What greater burden could one place on one’s family than asking them to make a life or death decision with no information? Health care planning is an opportunity to give your family the gift of certainty in an uncertain time. By showing that you made considered choices, you can ensure that your family comes together […]
Read More»Children are not generally liable for their parents’ debts, but that may be changing as care costs rise and state and federal government budgets are cut back. So far, there is no talk of a “filial responsibility” statute in Oregon, but it’s scary to consider. The article below may be a good excuse for you […]
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We thought we’d share with you why Probates are so Awesome. Aside from avoiding Probate because the Trust owns all of the assets. Avoids Probate: The Trust owns everything Trust assets can be removed at any time The whole Trust can be undone (revoked) at any time As much control over Trust property as an […]
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Probate is the court process that ensures that a deceased individual’s assets are distributed as required by law. If the individual left a will, probate ensures that the will is honored to the greatest extent possible. If there is no will, probate follows the plan of distribution set out in the law. Because probate is […]
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