Portland Oregon Legal Planning News
Inheriting an IRA can be a significant financial event, and recent changes to the IRS rules make it crucial for beneficiaries to understand their obligations. Whether you're in Portland, Oregon or elsewhere, these new regulations could significantly impact your inheritance. As a Portland, Oregon estate planning lawyer, I'll break down the key changes and how they could affect your financial planning.
Read MoreWhen you decide it's time to get serious about your future, you might be surprised to learn that you need not one, but two professionals in your corner: an estate planning lawyer and a financial advisor. Many people assume these roles are interchangeable or that one professional can handle it all. Spoiler alert: they are two separate roles and here's why that's actually great news for you.
Read MoreRetirement accounts, such as 401(k)s and IRAs, are often significant components of your financial portfolio. But do you know who will inherit these funds when you pass away? It's a crucial aspect of estate planning that deserves attention. Here, a Portland, Oregon inheritance lawyer offers expert insight into how retirement accounts are handled after your death.
Read MoreOne common misconception when it comes to estate planning is the belief that one must have significant assets to establish a comprehensive plan. As an estate lawyer in Portland, Oregon, I'm here to tell you that this simply isn't the case. In fact, life insurance can play a crucial role in your estate planning, even if your existing assets are modest.
Read MoreAre you a senior who is contemplating adding an adult child to your bank account to help manage your finances? It may seem like an easy solution for getting assistance with bill payments, but it's crucial to weigh the pros and cons before taking action. Our Portland, Oregon elder law attorney is here to guide you through this decision.
Read MoreIf you have a parent in a nursing home, you're likely facing a lot of difficult decisions and stressful situations. It's natural to feel overwhelmed, but it's important to remember that you have options and resources available to you. One question that often comes up is whether the nursing home can take a loved one’s life insurance policy. Let's dive into this issue and provide some empowering advice.
Read MoreAs our family members age, taking care of their financial and medical needs becomes increasingly important. Having conversations about the realities of aging early on can help ease the emotional stress that comes with it - providing a cushion for both you and your loved ones in case any conditions like dementia set in quickly down the line. With proactive planning and by utilizing the strategies listed below, families can ensure that their older loved ones are well-supported through this stage of life.
Read MoreA Series I bond is a non-marketable interest-bearing U.S. government savings bond. It's a low-risk investment that earns a variable inflation rate adjusted every May and November and an interest rate fixed for the bond's life. The non-marketable feature means you can't sell or buy it in a secondary market.
Read MoreYou can donate retirement accounts, such as an IRA, by distributing the proceeds to charity. However, the tax benefits for donating this way are minimal. A tax-efficient donation strategy is to contribute your retirement fund directly to a charitable organization as part of your estate plan.
Read MoreWe have all heard horror stories about identity theft. Not only is it astonishingly easy for thieves to steal your identity, but it often comes with little recourse and can take years to repair your credit when it happens. Seniors are especially susceptible to identity theft because they are less likely to use tools that help to keep their identities secure. As people age, the danger becomes even greater, because a person may experience dementia or other cognitive impairments that go unchecked before things get to a serious enough point that someone steps in to manage that person’s affairs.
Read MoreAs part of your Spring Cleaning, I recommend that you review a few key things to make sure that your estate and financial plans are going to work when you need them. You have made investments in your future based on goals that you have. It’s smart to review them each year to make sure that you’ve protected your investment, and so that your plan aren’t totally useless by the time you need them.
Read MoreWelcome to the Roots + Wings Legal Podcast, hosted by Aiston Law LLC and Portland, Oregon Attorney Candice Aiston. In our 5th episode, we talk with Financial Counselor Dawn Torres-Gale. I surveyed the people in my Facebook group, Portland Smart Planning Parents, about the money and legal issues that keep them up at night. The top two answers were: 1) not enough money to cover a life event such as a layoff or illness; 2) not enough money or unsure if enough money in retirement savings. I asked Dawn if she could provide some guidance in these areas, and we recorded this podcast episode.
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