How is a Pour-Over Will different from a Regular Will?
Portland Oregon Elder Law Attorneys » Estate Planning
by Tais Kulish
9M ago
When an attorney asks if you have a Will, does he or she mean a Last Will and Testament, a Pour-Over Will, a Living Will, or all of the above? You may be thinking, “I thought these were all the same thing!” These documents are, in fact, drafted to accomplish very different objectives. Legal documents can be confusing. So, let’s cut through the legal lingo and provide some descriptions that will help you decide which of the documents may be good for you. Last Will and Testament This is probably the document you think of when you hear the word Will. A last will and testament is a document that ..read more
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Prenuptial Agreement vs Will or a Trust
Portland Oregon Elder Law Attorneys » Estate Planning
by Tais Kulish
9M ago
I am married with a prenuptial agreement, do I also need a Will or a Trust? A prenuptial agreement is a contract between spouses that binds you in the event of a death or divorce.  It sometimes addresses obligations during the marriage.  It can only be changed by mutual agreement. A prenuptial agreement is not a testamentary document. Therefore, it does not pass title/ownership of assets at death.  For example, a surviving spouse cannot ask a title company, bank, or broker in placing a decedent’s asset in his or her name based just on the prenuptial agreement. A testamentary ..read more
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Three Reasons to Have an Attorney Draft your Will
Portland Oregon Elder Law Attorneys » Estate Planning
by Nay & Friedenberg
9M ago
I and other attorneys at the office often get the question from potential clients regarding whether they should hire us or use an online drafting service to create their estate planning documents.  Below are three reasons to hire an estate planning attorney rather than use an online service. Reason One – Value Proposition The first reason is surprising to many clients – you don’t get very much for what you pay with an online drafting service.  Unfortunately, online drafting services successfully market themselves as an alternate or substitute for an estate planning attorney.&nb ..read more
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CARES ACT May Provide Tax Relief for Taxpayers Subject to Required Minimum Distribution Rules
Portland Oregon Elder Law Attorneys » Estate Planning
by Nay & Friedenberg
9M ago
When Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March of this year, most people focused on the stimulus payment. However, if you have retirement savings, there may be additional helpful provisions in the Act. If you receive an annual Required Minimum Distribution (RMD) from a tax-deferred retirement account like an IRA or 401k and don’t need the income this year, Congress has granted a one-time exception to the required minimum distribution. Not receiving your RMD may lower your taxable income, and you don’t have to take out more next year to m ..read more
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Will the stimulus payment affect an individual’s Medicaid and SSI benefits eligibility?
Portland Oregon Elder Law Attorneys » Estate Planning
by Nay & Friedenberg
9M ago
The Coronavirus Aid Relief and Economic Security Act, also known as the CARES Act, has resulted in most individuals receiving a one-time Economic Impact payment from the IRS to help them stay afloat during these difficult times while simultaneously providing a boost to the national economy.  People with disabilities and elderly people who receive SSI and Medicaid benefits are among those who have received the stimulus checks. Although the stimulus checks have been a welcome relief to most individuals, SSI recipients and Medicaid long-term care beneficiaries may be concerned that their st ..read more
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Using This Time To Plan Ahead
Portland Oregon Elder Law Attorneys » Estate Planning
by Nay & Friedenberg
9M ago
Many of us have more time on our hands during this novel coronavirus (Covid-19) pandemic. One silver lining is this gives us a chance to tackle some of those items on our To-Do lists. Tasks like organizing the garage, learning to cut hair, and yes, estate planning. Now is a great opportunity to take advantage of this extra time by creating an estate plan or updating existing estate planning documents. Proper estate planning ensures that directions are in place to safeguard your health and manage your assets in the event of incapacity or death. If you answer “yes” to any of the following quest ..read more
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5 Reasons Everyone Needs a Will
Portland Oregon Elder Law Attorneys » Estate Planning
by Nay & Friedenberg
9M ago
The hesitancy to plan for death as part of life is a common reason for not having a will.  I like to reframe the conversation by teaching why a will should be considered a living document. The reason being that you can change it at any time while you are still alive.  In fact, a will should reflect your life circumstances and should be modified based upon changes in your life such as birth, adoption, death, marriage, divorce, incapacity, variations in wealth, etc.  Below are five reasons having a properly drafted will may improve your life and peace of mind. Why Me? Many people ..read more
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Can I add a Canadian Property to an Oregon Trust?
Portland Oregon Elder Law Attorneys » Estate Planning
by Nay & Friedenberg
9M ago
Q: I am a resident of Oregon and own property in Canada. One piece is a condo at Whistler, BC and the other is one is ownership of half of a home that my sister and I inherited from my mother. Here in Oregon, my wife and I have a revocable living trust to avoid probate at our passing. I have heard that if I own assets in other states or countries, they will go through probate unless I place them in trust. Should I hire a Canadian lawyer to place these two properties in my trust? A: Your general points about trusts, avoiding probate and out of state property, are ..read more
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I live in Oregon but am not a US citizen. Which estate planning documents do I need?
Portland Oregon Elder Law Attorneys » Estate Planning
by Nay & Friedenberg
9M ago
The world is getting smaller and we are seeing a lot of people that are from other countries but reside here in Oregon.  Many may return to their country of origin.  The fact is that if you plan on residing in Oregon (or any US state) and you own things, particularly if you have family here, you should do at least a minimum of estate planning.  That planning would be no different than that done by US citizens although the tax consequences will vary. Planning for health care would include a health care power of attorney and an advance directive in the event y ..read more
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How is a Pour-Over Will different from a Regular Will?
Portland Oregon Elder Law Attorneys » Estate Planning
by Tais Kulish
3y ago
When an attorney asks if you have a Will, does he or she mean a Last Will and Testament, a Pour-Over Will, a Living Will, or all of the above? You may be thinking, “I thought these were all the same thing!” These documents are, in fact, drafted to accomplish very different objectives. Legal documents can be confusing. So, let’s cut through the legal lingo and provide some descriptions that will help you decide which of the documents may be good for you. Last Will and Testament This is probably the document you think of when you hear the word Will. A last will and testament is a document that ..read more
Visit website

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