Series I Bonds: Portland, Oregon Probate Lawyers Reveal What You Need to Know
A Series I bond is a non-marketable interest-bearing U.S. government savings bond. It's a low-risk investment that earns a variable inflation rate adjusted every May and November and an interest rate fixed for the bond's life. The non-marketable feature means you can't sell or buy it in a secondary market.
Portland, Oregon Estate Planning Attorney Announces IRS Increase to Estate Tax Exclusion For 2023
After you’ve rung in the New Year, it’s time to start getting down to business and thinking about tax season. While it’s not the merriest time of the year, tax season is a great time to review your finances and the changes that may impact how you file. Every year, the Internal Revenue Service provides its updated tax inflation adjustments. These yearly amendments lay out the amounts exempt from federal estate and gift taxes. Due to inflation, the IRS has increased estate tax exclusions for 2023. What does that mean for you?
Portland, Oregon Estate Lawyer: How to Create an Estate Plan When Love and Relationships Are Complicated
Establishing an estate plan is a critical part of safeguarding your assets and making sure they are passed on to the rightful heirs. However, when you have a complicated relationship or family dynamic, this process can be difficult to navigate. Fortunately, there are still ways to ensure that your wishes are respected and that your loved ones receive the assets you meant for them to have. Here’s what you need to know about estate planning when love and relationships within the family are complicated.
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.
Portland, Oregon Will and Trust Lawyer Answers, “How Often Do I Need to Update My Estate Plan?”
Creating an estate plan feels like something you check off a to-do list. Once the task is complete, you can move on and forget about it. However, that is not the mentality you should take when drafting your final wishes. An estate plan should reflect your current circumstances and should be periodically reviewed and amended as your life changes.
Portland, Oregon Elder Law Attorney: The Basics of Hospice Care and How to Avoid Providers Involved in Medicare Fraud
When faced with a terminal illness or condition, more people than ever are choosing hospice care over starting or continuing expensive medical treatments. Hospice care is for patients who choose not to undergo specific treatments or when they are no longer effective. Instead, the focus is on the patient’s comfort and quality of life. Care is received at home or in a facility, such as a hospital or a nursing home.
Portland, Oregon Trusts Lawyer: Estate Planning Checklist for January
If you’ve already met with an estate planning attorney to put together your wills, trusts, powers of attorney, and other long-term plans, then congratulations! You’ve taken a really important step toward being prepared for the future and making things easier on your family and friends should you pass away or become unable to make decisions for yourself.
Service Dogs: A Lifeline for Families with Disabled Children
Service dogs are specially trained to provide assistance to children with disabilities. They can be taught to support kids in a variety of unique ways that help with daily living and even help in an emergency situation. For families with disabled children, service dogs can be a lifeline.
Portland, Oregon Business and Estate Attorney on Finding the Off Ramp for Your Business Ownership
Business plans often address marketing, growth, and product development issues. However, business owners often fail to create an exit strategy, succession plan, or acquisition plan. But Succession isn’t just for obscenely wealthy kingpins of media with overly ambitious and conniving children.
Portland, Oregon Estate Planning Lawyer on How to Make a Charitable Bequest with an IRA
You can donate retirement accounts, such as an IRA, by distributing the proceeds to charity. However, the tax benefits for donating this way are minimal. A tax-efficient donation strategy is to contribute your retirement fund directly to a charitable organization as part of your estate plan.
Portland, Oregon Estate Tax Lawyer Answers, “What Is Portability in an Estate Plan?”
Federal estate tax law includes a provision called portability. This provision only applies to married couples. It allows the surviving spouse to use any part of their deceased spouse’s unused estate and gift tax exemption. Including portability in an estate plan protects the surviving spouse from significant estate tax bills if the deceased spouse’s estate didn’t exceed exemption thresholds. With the deceased spouse’s unused exclusion (DSUE), the surviving spouse can transfer their spouse’s unused federal gift or estate tax exemption upon death.
Portland, Oregon Elder Law Attorneys on How to Help Seniors Find Joy During the Holidays
The holiday season is joyous for many. However, it can be overwhelming if you care for an older adult. People in their senior years often feel isolated from the outside world if they can't participate in certain festivities. Maybe they used to be active and loved playing with their kids and grandkids but no longer have the energy or physical abilities.