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…
Making lifetime gifts of your assets may benefit your estate, assuming you will have sufficient resources remaining to live comfortably. An individual can give $14,000 per year to another individual. However, Oregon does not tax lifetime gifts. The federal government…
Medicaid for long term care services is a program that provides benefits to someone with disabilities, or who is legally blind, and those older than age 65. The applicant must meet certain requirements regarding income, resources, and level of care…
Estate planning allows you to prepare for incapacity during your lifetime and the transfer of your assets at your death. Your planning may include a power of attorney for finances, an advance directive for health care, and a will or…
You must have capacity or be ‘of sound mind’ to make a will in Oregon. You must also be eighteen or be married. Beginning January 1, 2016, an emancipated minor can also make a will. The will must be based…
Understanding who will receive your possessions after your death is important to many people. For someone dying without a valid will (intestate), if the decedent leaves a surviving spouse and no children from a previous marriage, the surviving spouse would…
In Oregon, a spouse has a right to inherit from a deceased spouse’s estate. The percentage of the deceased spouse’s estate the surviving spouse has a right to is determined by the length of the marriage. The right to elect…
