Myths About Wills and Probate: A Portland, Oregon Estate Lawyer Explains What You Need to Know
As a Portland, Oregon estate lawyer, one of the most common misconceptions I hear from clients is that having a will means their loved ones can avoid probate. Unfortunately, this isn't the case. Let's dive into why wills and probate go hand in hand, and what this means for your estate planning.
Estate Planning Red Flags: A Portland, Oregon Will and Trust Lawyer Reveals Common Parental Missteps
As a Portland, Oregon Will and Trust Lawyer, I've seen firsthand the consequences of inadequate estate planning. Many parents, regardless of age, overlook crucial aspects of securing their family's future. Whether you're a new parent, think you're too young for estate planning, or haven't updated your documents in years, this post is for you. Let's explore some common estate planning mistakes and how to avoid them.
Understanding Retirement Account Beneficiaries: Guidance from a Portland, Oregon Inheritance Lawyer
Retirement accounts, such as 401(k)s and IRAs, are often significant components of your financial portfolio. But do you know who will inherit these funds when you pass away? It's a crucial aspect of estate planning that deserves attention. Here, a Portland, Oregon inheritance lawyer offers expert insight into how retirement accounts are handled after your death.
Changing Beneficiaries on Your Life Insurance: Flexibility and Considerations from our Portland, Oregon Will and Trust Attorney
Life insurance is a powerful tool to ensure that your loved ones are taken care of financially after you're gone. But as life evolves, so do our relationships and priorities. A common question we encounter is: "Can I change the beneficiaries on my life insurance whenever I want?" Our Portland, Oregon will and trust attorney dives into that answer below.
Naming Alternative Beneficiaries: A Simple Step with Big Implications in Oregon
The way we plan for the future can have profound effects on our loved ones. When it comes to estate planning, one essential but often overlooked step is naming alternative beneficiaries on your accounts.
Portland, Oregon Trust and Estates Lawyer: How to Properly Choose Beneficiaries
An essential part of estate planning is designating beneficiaries for your life insurance policy, 401(k), and other financial accounts. A beneficiary is a person who receives someone's assets upon their death. There is no "correct choice" when choosing the beneficiaries who will inherit from you. It’s a personal decision. What must be handled “properly” however is the process of naming beneficiaries so that your loved ones can inherit what you desire for them. Let’s look at beneficiary designations in a bit more detail.
Beneficiary designation pitfalls
There are some major estate planning mistakes that people make with their beneficiary designations on life insurance and retirement accounts. Let’s go through a few of the most common ones that estate planning lawyers see happen every day when we administer estates.