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…
Supplemental Security Income (SSI) is a means tested benefit that provides $735/month (for 2017) in income to the beneficiary. The beneficiary is not allowed to have more than $2,000 in countable resources. A person eligible for SSI will also be…
Attorney Tim Nay is a founding member Of the Trump Policy Analysis Group (TPAG). Its purpose is to objectively review and analyze legislative, regulatory, and other initiatives that directly impact older Americans and Americans with special needs. Members of…
A will allows you to nominate a personal representative of your estate and dispose of your probate assets. The personal representative would be in charge of your probate estate at your death. However, a will only controls the distribution of…
Real property is often the main asset of an estate. The home may be sold during the probate process but only by someone with legal authority to manage the estate assets. The Personal Representative (executor) must be formally appointed by…
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…
Naming an agent or representative to act on your behalf is an important step in your estate planning. Care must be taken in deciding who to name as the primary agent and alternate(s). Many people name their spouse, adult child,…
For a person to execute a valid will, in the presence of at least two witnesses the person making the will needs to be able to sign the will, or direct one of the witnesses or another person to sign…
You should review your estate planning if you are planning on getting married. You will likely want to update who your agents are under your will, power of attorney for finances, and advance directive for healthcare documents. You would also…
If a Medicaid applicant has gross income over the Medicaid limit of $2,199 per month (in 2016) an income cap trust is a device to enable the applicant to qualify for Medicaid with respect to the income requirement. This ‘income…
