Settling debts can be a major component of probate and estate planning in Oregon You might be planning your estate, setting up a trust, and/or writing your will. It can be comforting to think of how your assets can benefit people after you pass away. You might designate contributions to nonprofits or provide financial or other help to friends…
Do these things now so administering your trust is smoother later Establishing your Oregon trust is a big step, but the tasks you handle afterward are even more important. After all, a trust doesn’t take care of itself, and nothing winds up inside the trust without some work from you. Here are the next things to do after you…
Updating your estate plan can be based on time intervals and life changes Your will is a crucial component of your estate plan. A will is not a set-it-and-forget-it document though. Now and again, it’s important to review and update your Oregon will so that it continues to reflect the realities of your situation and preferences. When to review…
An Oregon Simple Estate or Small Estates Affidavit can take less time, but only certain estates may qualify In Oregon, a typical estate may require at least 7 months to fully process and conclude the standard probate process. However, Oregon has a special procedure for smaller estates. You might see it referred to as a Simple Estate Affidavit or…
Setting up a trust is only the first step. Oregon trusts have to be managed and closed properly too. Setting up a trust to benefit people and organizations can be an integral estate planning tool in Oregon. However, establishing the trust is only the first step. When it’s time to evaluate the trust’s assets and distribute them, trust administration…
Relying on AI to draft Oregon legal documents has pitfalls that could wreck your estate The influence of ChatGPT and other artificial intelligence, or AI tools, is only just beginning to be felt throughout society. AI tools are powerful and likely will transform industries and interactions in many ways. They also aren’t ready to take over setting up your…
Legal guardianship solutions are available for minor children and incapacitated adults It’s never easy emotionally when you realize that an adult in your life is becoming incapacitated, or when a minor child needs someone other than a parent to manage their safety, care, and life decisions. Fortunately, Oregon offers different types of legal guardianship as a means to assist…
In Oregon, a typical estate takes 6-9 months to complete probate. If you expect to receive a bequest, that time can feel like it moves far too slowly. You might also be aware of companies that offer an inheritance advance, giving you a lump sum faster… but at a cost. An inheritance advance can be tempting, but is it…
Oregonians can use this specialized trust for a taxpayer spouse who is not a US citizen Love might not know boundaries or citizenship, but taxes do. Surviving spouses can be eligible for estate tax exemptions. However, a spouse who is not a US citizen is ineligible and may face much higher estate taxes. When providing for a spouse who…
Understanding what a guardian is and what a conservator is You might have seen it on a permission or a release form: “parent or guardian.” Or perhaps headlines about someone being in a “conservatorship” has piqued your interest, but also stirred up your confusion. After all, what are guardianships and conservatorships in Oregon? Are they for health? Finances? Adults?…
