Q+A: Will My Grandson Get Hit with Capital Gains Taxes If I Leave My Home to Him?
I want to leave my house to my grandson because I know how hard it is for young people to buy homes these days. But I'm worried about the tax bill. I bought this house 40 years ago, and it has appreciated significantly. Will he get hit with a huge capital gains tax if I leave it to him?
Title the House Right the First Time: Why Your Estate Planning Should Happen Before Closing - Advice from a Portland, Oregon Estate Lawyer
You've found it. The home with the perfect kitchen, the right school district, and the backyard you've been dreaming of. The contract is signed, the inspection is scheduled, and you're already picking out paint colors.
But before you head to the closing table, there's one critical step most homebuyers overlook: setting up your Living Trust before you take title. While many people plan to "put the house in the trust" eventually, doing it during the purchase process saves money, protects your privacy, and ensures immediate asset protection.
Updating Property Deeds After You Create an Estate Plan: What Portland, Oregon Homeowners Need to Know
Creating a comprehensive estate plan is an important first step in protecting your assets and providing for your loved ones. However, many people don't realize that signing estate planning documents is only part of the process. If your plan includes a revocable living trust, you'll need to transfer ownership of your real estate by updating your property deeds. This process is called "funding your trust," and it's essential for your estate plan to work as intended.
Buying an Investment Property? Here Is How It Shapes Your Portland, Oregon Estate Plan
You found the perfect duplex or short‑term rental, ran the numbers, secured financing, and now you are ready to close. One question remains: does this new property change your estate plan? The short answer is yes. Real estate is a large, illiquid asset that brings tax, liability, and probate considerations that your current will or trust may not address.
Why Put My House in a Living Trust? 6 Benefits Every Portland, Oregon Homeowner Should Know
If you own a home, you’ve probably heard that “putting the house in a living trust” can save time and money for your family later on. Yet many homeowners hesitate because they’re unsure how a trust works or they assume the process is a hassle. Below, we answer the most common questions and show why placing your primary residence into a revocable living trust is often simpler (and more advantageous) than people think.
When Life's Storms Strike: A Portland, Oregon Trust Lawyer's Guide to Protecting Your Estate and Insurance Coverage
As a Portland, Oregon trust lawyer, I've seen how storms in life can come in all shapes and sizes—health crises, divorce, or the loss of a loved one. And of course, there are the literal storms: hurricanes, floods, and fires that can damage property and uproot lives. In recent months, you may have seen social media posts claiming that insurance companies won't pay out a total loss if your home is owned by a trust. While it's true insurers are more frequently scrutinizing claims, that doesn't mean your coverage is automatically void.
Commercial Property in Your Estate Plan: Advice From a Portland, Oregon Will and Trust Lawyer on Protecting Your Real Estate Legacy
If you own commercial property, you've likely spent years building and managing your real estate investments. As a Portland, Oregon will and trust lawyer, I've guided many property owners through the complex process of including these valuable assets in their estate plans. The truth is, passing down commercial property requires much more careful consideration than transferring a family home.
Deeds Decoded: Your Portland, Oregon Trust Lawyer Unveils Property Transfer Documents
As a Portland, Oregon Trust Lawyer, I often encounter questions about different types of property documents. Two that frequently come up are documents for transferring property ownership and those used in lending situations. Let's explore these important legal instruments and how they might impact your property rights.
What to Know When Including Raw Land in Your Estate Plan: Advice from a Portland, Oregon Estate Lawyer
Owning a piece of undeveloped land can be an exciting investment, full of potential and possibilities. However, when it comes to including this asset in your estate plan, there are unique considerations to keep in mind. As a Portland, Oregon estate lawyer, I often work with clients to ensure their raw land is properly addressed in their estate planning documents. Here's what you need to know…
Q & A with Portland, Oregon Estate Lawyer: Co-Signing a Home Loan for Your Responsible Adult Child
"I'm considering co-signing a loan so my daughter can buy a house before prices go any higher. My realtor suggested talking with an estate attorney to make sure I understand any repercussions it could have on my estate and financial plans before I go on jointly with her. What specifically should I know?"
Portland, Oregon: Why Knowing How to Take Title to Real Property Matters
If you're in the process of buying or investing in real estate, you've probably come across the term "taking title." It may sound technical, but understanding how to take title to real property is essential for protecting your interests and ensuring a smooth transfer of ownership. In this blog post, we'll explore why knowing how to take title matters and discuss the different options available to you. Let's dive in!
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[Real Estate] The Basics of Estate Planning: A Guide for Real Estate Agents in Portland, Oregon
Hey there, real estate agents! As an estate planning lawyer here in Portland, Oregon, I want to share some valuable insights with you about the basics of estate planning. Understanding this crucial aspect can help you guide your clients more effectively when it comes to taking title to real property. So, let's dive right in!