Yes! Most people would be surprised to hear that their college-aged child needs estate planning documents. At age eighteen, a child is legally considered an adult but may still benefit from the assistance and guidance of their parents in making…
After someone dies, a court process known as probate may be required to ensure debts and taxes are paid and remaining assets are transferred to the rightful recipients. The probate process includes having a personal representative appointed by a judge,…
An ABLE account is a tax advantaged savings account for someone with disabilities with an onset prior to age twenty-six. Means tested programs like Supplemental Security Income (SSI), Medicaid, and Section 8 housing, have limits on resources and income. The…
Not all Powers of Attorney for Finances are created equal. The amount of control given to an appointed representative (called an “attorney-in-fact”) depends on the powers specifically spelled out in the document. A Power of Attorney for Finances (or Durable…
Parents of minor children need to plan for the possibility they die before their children reach adulthood. Minors do not have the legal status or cognitive ability to make decisions about their care and finances so an adult must act…
Understanding the difference between a will and a living trust can guide you in selecting the one that best meets your needs. A revocable living trust is a trust that is established during your lifetime. You would be the Trustor…
There are three main ways you can own real property with someone else in Oregon. Tenancy by the Entirety: Spouses can own real property as tenants by the entirety. This is the most common ownership interest for married persons. Both…
Controlling where your assets go at your death takes planning. If you die without a will (intestate) or if all of your beneficiaries die before you and you have not named an alternate beneficiary the laws of intestacy in your…
In Oregon, a spouse has a right to inherit from a deceased spouse, unless there is a prenuptial or postnuptial agreement. If the surviving spouse does not receive the Elective Share amount, determined by the length of the marriage and…
A life event, such as a marriage, is a good opportunity to review your estate planning. You will likely want to update your agents under your will, power of attorney for finances, and advance directive for health care documents. You…
