As a Portland, Oregon inheritance lawyer, I often recommend Irrevocable Life Insurance Trusts (ILITs) to clients looking to protect their family's wealth. Life insurance is a powerful estate planning tool, but without proper planning, it can become vulnerable to creditors or unnecessarily inflate your taxable estate, especially here in Oregon, where we have the lowest exemption rate in the country (your estate is taxed on everything you own at your death over $1 million). Let's explore how an ILIT can help safeguard your family's financial future.
Read More