If you are involved in a probate proceeding in Oregon, you may encounter a document called a limited judgment appointing personal representative. This is a court order that grants authority to a person to act on behalf of the estate of someone who has died. The person appointed by the court is called the personal representative (PR) and has various duties and responsibilities to manage and distribute the estate assets according to the law and the will of the deceased person, if there is one.     A limited judgment appointing PR is different from a general judgment that con ..read more

It is important to keep estate planning documents in a safe and secure place where they can be easily accessed when needed. Here are some options for where to keep estate planning documents: Safe deposit box: You can keep your estate planning documents in a safe deposit box at a bank or other financial institution. This provides an extra level of security, but it can make it more difficult to access the documents when needed, as the bank may have limited hours or require advance notice to access the box. Fireproof safe: You can keep your estate planning documents in a fireproof safe in you ..read more

Talking to elderly parents about estate planning can be a difficult conversation to have, but it's an important one to ensure that their wishes are met and their assets are protected. Here are some tips to help you approach the conversation: Choose the right time and place: Estate planning is a sensitive topic, so choose a time and place where your parents will be comfortable and have time to discuss the issue without feeling rushed or pressured. Show respect and empathy: It's important to approach the conversation with respect and empathy for your parents' feelings and wishes. Acknowledge ..read more

Planning for your estate can seem overwhelming. Here are some steps to help you get started in estate planning: Determine your goals: Think about what you want to accomplish with your estate plan. Do you want to minimize taxes, ensure your assets are distributed according to your wishes, provide for your loved ones, or support a charity? Your goals will help shape your estate plan. Take stock of your assets: Make a list of your assets, including your home, bank accounts, retirement accounts, investments, and personal property. Consider their values and how they should be distributed after ..read more

Here are some questions that you may want to ask your estate planning attorney: What estate planning documents do I need? A good estate planning attorney should be able to evaluate your individual needs and help you determine which documents are necessary to achieve your estate planning goals. This may include a will, trust, power of attorney, and healthcare directive. What is the cost of estate planning services? Estate planning can be expensive, so it is important to understand the costs upfront. Your attorney should be able to provide you with a clear estimate of the costs involved in y ..read more

It is a good idea to review and update your estate plan or will periodically to ensure that it continues to meet your needs and reflects your current wishes. There is no set schedule for updating your estate plan or will, as the need for updates can vary depending on your personal circumstances and changes in the law. However, here are some general guidelines to consider: Major life events: You should review and update your estate plan or will following major life events such as the birth or adoption of a child, marriage or divorce, the death of a spouse or beneficiary, or a significant chan ..read more

Real property located outside of Oregon is generally not subject to the Oregon Estate Tax, even if the individual who owned the property was a resident of Oregon at the time of their death. The Oregon Estate Tax applies to the taxable estate of any individual who was a resident of Oregon at the time of their death, as well as to non-residents who have assets located in Oregon that are subject to the tax. However, for the purposes of the Oregon Estate Tax, real property located outside of Oregon is generally not considered an Oregon asset and is not subject to the tax. The important caveat is t ..read more

When someone passes away, their estate may need to go through a legal process called probate. Probate is the process of settling the deceased person's debts and distributing their assets according to their will or state law. The person who is responsible for managing this process is called the personal representative of the estate.  If you want to find out who is serving as the personal representative of an estate, you can check with:  The probate court where the deceased person lived or owned property.  The attorney who drafted or filed the will for the deceased person.&nbs ..read more

Estate planning can be expensive because it involves a number of complex legal and financial issues that require the expertise of professionals such as attorneys, accountants, and financial advisors. The cost of estate planning can vary depending on a number of factors, such as the size and complexity of the estate, the types of assets involved, and the specific estate planning strategies being used. Here are some of the reasons why estate planning can be expensive: Attorney's fees: The primary cost of estate planning is typically the fees charged by attorneys to draft legal documents such a ..read more

Yes, non-residents can be subject to the Oregon Estate Tax if they own real estate or tangible personal property located in Oregon, or if they have other assets that are deemed to have an Oregon situs, such as a business with a physical presence in the state. The Oregon Estate Tax applies to the taxable estate of any individual who was a resident of Oregon at the time of their death, as well as to non-residents who have assets located in Oregon that are subject to the tax. In the case of non-residents, the Oregon Estate Tax applies only to the portion of their estate that is attributable to Or ..read more