It’s easy to think of Oregon estate planning trusts as one type of document. In fact, there are lots of different types of trust. Each has a specific use that can be beneficial to a set of circumstances. Talking about trusts is more like talking about a tool box. A trust is a broad term that encompasses many different…
When it comes to your estate planning in Oregon, a trust may be the perfect solution you didn’t realize you needed. Trusts aren’t just for the wealthy either. Everyday Oregonians can benefit from having a trust as part of their estate plan. The reason is simple: At its heart, a trust is simply an agreement that manages assets for…
When someone passes away and you need to manage the affairs of their estate, it helps to have an Oregon estate checklist. From probate court to making public notice to creditors, ordering death certificates to canceling streaming services, those first weeks after someone passes away are full of tasks big and small. In the first 24 hours During that…
Here’s a realistic timeline How long does probate take in Oregon? At a minimum, 5 months, but 6-9 months is a more typical, realistic timeline. Often it can can take longer. Let’s look at what probate is, and why it takes months—or sometimes even years—to conclude. What is probate? The word alone can sound intimidating, but probate doesn’t have…
Understanding the will executor duties in Oregon has its complexities, but it really boils down to one essential rule of thumb: Do nothing until your attorney says it’s okay. Don’t misuse your powers over the estate Being in the deceased’s will does not automatically give you power over the decedent’s property. The probate court needs to appoint you as…
Your estate plan always needs a will. Sometimes you need a trust too. Here are some key differences. When it comes to making or updating your Oregon estate plan, the difference between a will and a trust becomes important. After all, odds are you’ve at least heard of both wills and trusts (such as revocable living trusts). However, each…
Verbal gifts outside of a will: It’s often thought that when someone says they want you to have something when they die, then that will happen. Some might point out that an oral contract is supposed to be legally binding. Or that what someone said should outweigh what’s in that person’s will or estate plan. Unfortunately, verbal gifts can…
Succession planning ensures your business avoid the risks and pitfalls of failing to plan for the future Once upon a time, someone who owned a business died, had no succession planning in place, and the entire enterprise became a complete mess. Sometimes the situation gets so bad, the business fails. Pretty much every business owner or partner has heard…
When you are creating or updating your Oregon will, you might wonder if you can forgive debts in your Oregon will. Your estate plan can include provisions about forgiving, or canceling, debts owed to you. Forgiving debts in your will is a powerful tool. But like any powerful tool, it must be used with care. When it comes to…
Your Oregon will is a crucial document. However, it’s not the place for every wish, preference, or instruction you communicate as part of your Oregon estate plan. It’s important to be careful with what you promise, instruct, or designate in your will. Here are 7 common will mistakes you want to avoid. 1. Conditions that can’t be enforced in…
