Portland Family Law And Estate Planning Blog
Why young adults should think about estate planning
When an Oregon resident passes away, their assets are known as the "estate." At no point does age alter this fact. Young adults might not think about estate planning, but they should, according to many financial and legal professionals. Even someone with minimal...
Probate required for most estates to validate will and assets
The estates of those who recently passed away in Oregon go through probate soon after their death. Probate is a process supervised by the court system in which a will is authenticated before assets are released. Estates without a will are considered intestate and...
Retirement accounts might go through probate
Retirement accounts in Oregon may be subject to probate if you don't name a beneficiary to the account. It may be a good idea to name an alternate beneficiary in the event that your primary beneficiary dies or is, otherwise, unable to receive funds from a 401(k),...
Understanding the key differences between wills and trusts
There are several estate planning tools available to an individual in Portland who wants to get their affairs in order. The goal of planning is to minimize the amount of estate tax that surviving family members, beneficiaries and heirs will pay on their inheritance. A...
When can your estate plan be harmful instead of helpful?
Estate planning can take some of the guesswork out of the equation for your family after you pass away. While it can help your wishes be known, mistakes made while drafting the plan can cause problems for your loved ones later on. Generally, estate planning...
New decade: Create or review your estate plan right away
With the start of a new decade, people around the country are making resolutions for things they feel will improve life in the upcoming year and beyond. Some people are forgetting one important resolution that can help not only you as you navigate through your future,...
Probate serves a variety of purposes
The probate process is one that is often misunderstood. You might think that if your loved one had a will, you won't have to go through probate; however, this may not be the case. The probate process serves a few purposes. One of these is that the will is filed with...
Probate entails various points, take them one at a time
Some adults choose to create an estate plan that includes a will, and sometimes, trusts. Anyone who is responsible for the handling of the estate when a loved one passes away should be prepared for the duties that come with this task. It isn't always easy because some...
Avoiding probate might be possible with planning
Thinking about having to go through probate when your loved one passes away might bring up feelings of fear and dread. It doesn't have to be this way. In some cases, a person's estate plan might make it possible to avoid probate. There are several things that the...
Guardianships are important components in some estate plans
A guardianship is a very important tool for parents who are worried about what is going to happen to their children if both parents pass away. This is a frightening prospect for many parents, but it is one that shouldn't be ignored. Here are a few points to remember...