Portland Oregon Estate Planning News
Even iconic artists like Prince can encounter estate planning challenges. As a devoted fan of many musical legends, I was surprised as a Portland, Oregon trust lawyer to learn that Prince passed away without a trust or will. Sadly, the resulting legal battles within his estate continue to make headlines. Let's delve into the situation and discover valuable lessons we can all learn from this unfortunate estate planning situation.
Read MoreAs 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 MoreAs a grandparent, you've probably spent countless hours doting on your grandchildren, showering them with love, and creating precious memories. But have you considered how you can continue to support and protect them long after you're gone? As a Portland, Oregon estate planning lawyer, I've seen firsthand how grandparents can play a crucial role in securing their grandchildren's financial future. Let's explore some powerful strategies you can use to leave a lasting legacy.
Read MoreAs a Portland, Oregon business planning lawyer, I've seen too many thriving businesses falter when faced with unexpected transitions. That's where a buy-sell agreement comes in - it's the safety net you hope you'll never need but will be eternally grateful for if you do.
Read MoreAs a Portland, Oregon will lawyer, I've seen my share of DIY disasters, but AI-generated legal documents are taking things to a whole new level of potential chaos. Let me explain why entrusting your legacy to an AI might be the plot twist your family doesn't need.
Read MoreImagine you're at a family reunion, and your eccentric Uncle Joe starts talking about how he's become a "Grantor." Your cousin rolls her eyes, assuming it's just another one of Uncle Joe's quirky hobbies. But little does she know, Uncle Joe might just be the smartest person at the picnic table.
Read MoreOwning a piece of undeveloped land can be an exciting investment, full of potential and possibilities. However, when it comes to including this asset in your estate plan, there are unique considerations to keep in mind. As a Portland, Oregon estate lawyer, I often work with clients to ensure their raw land is properly addressed in their estate planning documents. Here's what you need to know…
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 MoreHave you ever caught yourself thinking, "I love my children, but when it comes to my future care, they'll probably end up in a battle royale"? You're not alone. As a Portland, Oregon will lawyer, I've seen countless families grapple with this exact concern. It's the elephant in the room that many of us dread addressing: what happens when our adult children can't see eye to eye on our care decisions?
Read MoreMy ex-husband is named as the executor in my will. Do I need to change this after our divorce?
Read MoreAs parents of disabled children or adults, we often find ourselves lost in thought about their future. We picture a world where they're safe, happy, and well-cared for, even when we're no longer around to guide them. But here's a hard truth that many of us have faced: sometimes, despite our best efforts, Plan A just doesn't pan out.
Read MoreAugust is Make-A-Will Month, a national reminder of the importance of having a valid will in place. While it might not be the most exciting topic, taking this step is crucial for ensuring your wishes are respected and your loved ones are taken care of after you're gone.
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