Does your estate need to account for biological or adopted children, stepchildren, and/or grandchildren? When your family needs to account for children, various Oregon trusts for kids can be an essential part of your Oregon estate plan. A range of trusts can align with how you want to provide for: Here are four trusts in particular that you might…
For certain needs, preferences, and privacy, an Oregon trust is best When we mention an Oregon trust, the assumptions begin: “Trusts are just for rich people.” “My will does everything already.” “I couldn’t possibly need another estate document.” Here’s the thing, though: wills and trusts are not interchangeable. While a will is an essential part of most estate plans,…
Does your Oregon estate plan provide for your pets or other animals? Whether your trusted pet, service animal, or other animals in your life, you consider them companions, friends, and even family. However, for the pets and animals you own, Oregon law considers them as property. Fortunately, Oregon pet trusts are a useful legal tool you can use to…
When a person with a disability in Oregon uses benefits such as SSI or Medicaid, there’s a cutoff. If that person has $2,000 in assets in their name, they could lose access to their benefits, and may even be on the hook to pay back funds. Fortunately, there’s a way around that: a Special Needs Trust, or SNT. Need…
TODD transfers Oregon real estate probate-free… in the right situations An Oregon Transfer On Death Deed, or Oregon TOD deed (or TODD) gives Oregonians a relatively simple, straightforward way to bypass probate and transfer ownership of real property in an estate. When used properly, in the right situations, TODD takes care of a property transfer without the need for…
Buying real estate can be challenging at any time. When you are in the market, a property that turns out to be part of an estate can be confusing. What is probate real estate in Oregon, and what are the upsides and downsides of buying a probate property? Buying probate real estate in Oregon can be advantageous. The process…
Legally manage and transfer firearms to heirs and beneficiaries, but that’s not all Figuring out how to manage and pass along your firearms is a crucial part of responsible gun ownership. Oregon gun trusts are a special legal tool that can be a critical part of your estate, so that your firearms can legally and properly pass along to…
Life changes. Your Oregon estate plan can change too. Should you update or replace your Oregon will? Actually, it’s a trick question. When you “update your will” in Oregon, you’re actually replacing it with a new one. With one exception. Wondering about creating or reviewing your will? The exception: Make simple updates with a codicil You can make simple…
Pass along your firearms legally in your will or trust When setting up your estate plan, it’s common to include your wishes on what happens to your personal property. From a piece of furniture to important books, family heirlooms to tools, in general you can set down your wishes in your estate plan. Firearms compliance in Oregon, guns and…
Your trust can be the most important part of your Oregon estate plan. But when abuses, lawsuits, or improper setup cause trust problems, the fallout could wreck your trust and your entire estate. Fortunately, many problems with Oregon trusts are avoidable and preventable. Let’s look at some possible trust pitfalls. 1. Incorrect, improper, and/or inconsistent trust setup Trusts are…
