TOD Beneficiary: What You Should Know | Portland, Oregon Estate Attorney
Your named beneficiaries will likely have to go through probate to receive your real property after your death if it is only in your name and not held in trust. Although transferring property into trust can ensure your family does not have to wait for a judge to validate your will before distributing your assets, it might not make sense for your situation. Another beneficial method is a transfer-on-death (TOD) deed. A TOD deed transfers a person’s real property to named beneficiaries upon the transferor’s death. It is similar to a transfer-on-death registration for an investment account or a payable-on-death designation for a bank account.
The Holidays Are a Great Time for Estate Planning Talks
The holidays are a great time to catch up with loved ones, so why not make the most of it by having some important conversations? One topic that is often overlooked, yet critical to discuss is estate planning. Here are a few reasons you may want to sit down with your loved ones this year to talk about your wishes and answer any questions they may have so that everyone is on the same page if something happens to you.
Wedding Bells Later in Life? What Newlywed Seniors Need to Know About Their Estate Plans
Some seniors don’t expect to remarry after a divorce or the death of a spouse. However, life is full of surprises. You could meet someone at any age, even during your retirement years. Many older adults bring various assets and debts into a new relationship. They might also have children from a previous marriage, one or multiple businesses, and collections they’ve worked hard to accumulate. Without adequate estate planning, you or your spouse could encounter significant problems if one of you dies or suffers a debilitating medical condition.
The Best Identity Theft Protection Services of 2022
We have all heard horror stories about identity theft. Not only is it astonishingly easy for thieves to steal your identity, but it often comes with little recourse and can take years to repair your credit when it happens. Seniors are especially susceptible to identity theft because they are less likely to use tools that help to keep their identities secure. As people age, the danger becomes even greater, because a person may experience dementia or other cognitive impairments that go unchecked before things get to a serious enough point that someone steps in to manage that person’s affairs.
Portland, Oregon Trust Lawyer on the Elements of a Valid Trust
When creating a trust with a Portland, Oregon trust lawyer, it is important to understand the specific roles involved. The grantor is the person who establishes a trust. The designated beneficiary is the person who receives the assets held in trust when the grantor dies. Probate is unnecessary because trust property passes outside the last will and testament or intestacy law.
Anne Heche, Wendy Williams, Aretha Franklin, and YOU.
They say celebrities are “just like the rest of us,” and that’s certainly true when it comes to estate planning. While no one likes to think about (or plan for) their incapacity or death, there are real-life consequences for not doing so. It doesn’t matter if you are a billionaire or just an average Joe, everyone needs a plan to protect their assets and their family if something happens to them.
Portland, Oregon Will Lawyers on Why a Power of Attorney Is So Important for Your College Student
When most people think about estate planning tools such as power of attorney, they imagine that they are solely for people who already have children, who have significant assets, or who are nearing the end of their lives. However, you may be surprised to know that many Portland, Oregon will lawyers also recommend that college students have powers of attorney in place for both their healthcare and their finances. While your college-aged child may not require other aspects of a full estate plan, these power of attorney documents could nevertheless be vital.
Portland, Oregon Will and Trust Lawyer on What Single Seniors Need to Know About Their Estate Plan
Whether you’re a single senior who lives alone or one who lives with a partner, establishing a new estate plan or modifying an existing one is essential. You might wish to leave assets to your partner that they could not get through intestate succession, or maybe you have children you want to leave your assets to. Perhaps there are organizations you want to receive a charitable donation upon your death. Whatever your final wishes, you should create a legally enforceable estate plan now.
Portland, Oregon Estate Planning Attorney: How Ranchers and Farmers Can Protect Their Life’s Work
Creating a comprehensive estate plan can protect your interests and your family’s future. When you work hard to earn a living and obtain assets, it’s natural to want to pass them down to your children or dependents when you pass away.
Portland, Oregon Trust Attorney Answers, “Is it Better to Inherit Stocks or Cash?”
Inheriting any assets from someone’s estate could benefit a person financially. However, it can also create some challenges. Cash and stock inheritances come with various advantages and disadvantages. Although they provide the funds someone might need to pay necessary expenses or grow their portfolio, some complications could arise.
Why Moving Is So Hard for People with Dementia | Portland, Oregon Elder Law Attorney
Oregon elder law attorneys know that making the decision to move an elderly loved one into an assisted living facility is never easy. However, when your elderly parent or grandparent is struggling with Alzheimer’s or another form of dementia, the situation can be particularly challenging.
Oregon Elder Law Attorney: Three-Quarters of Middle-Class Seniors Priced Out of Assisted Living by 2033
In general, middle-income seniors have income and assets that make them less likely to qualify for Medicaid. At the same time, they may not have adequate resources to pay for the rising costs of housing and care options they need.