Even though there can be tax benefits to deferring payouts from an IRA or a 401K, sometimes this benefit is a minor benefit when compared with the risks of having the asset distributed directly to someone who may have problems handling money.
The rules have changed over the years.
Inherited property, in Oregon, now, is generally not spilt equally among spouses when they divorce.
For tax reasons, it is often wise to pass IRAs, 401Ks, and other tax deferred assets outside of probate, by making sure the beneficiary designations on these assets name actual individuals.
As explained in other articles in this series, Oregon divorce courts are required to make an equitable division of assets when a couple is divorced.
In Oregon, there is a presumption of equitable division of property upon divorce.
In most cases, where there has been a long term marriage, this will mean a roughly equal division of assets.
One of the great income generators for lawyers can be, curiously enough, the do-it-yourself divorce.
If something is done incorrectly in your divorce, you may spend a great deal of money trying to fix the matter.
Many people hope to save on costs by entering into divorce mediation without having their own attorney.
Whether or not your spouse has an attorney, if you are contemplating a divorce, you should have your own divorce lawyer.
Advance Directives for Health Care, in contrast to POLSTs (Physician Orders for Life Sustaining Treatment - see earlier article), are used to provide information and authority to substitute decision makers who are operating in a less urgent situation.
POLSTs (Physician’s Orders for Life Sustaining Treatment) and Advance Directives for Health Care are often confused.
In a story reported on October 23, 2012, by the New York Times, it was announced that a court settlement has been reached (pending approval of the judge).
This settlement will result in a very important change to how Medicare policy is implemented in the real world.
Something that seems to catch many lawyers and some clients unaware are the unexpected difficulties that people face later in life if they are ever the subject of a Family Abuse Prevention Act (FAPA) Abuse Prevention Order.
More and more people are living together without marriage. This includes senior citizens.
This can create special problems for Medicaid.
It is becoming more and more common for people to live together on a long term basis, without getting married.
One reason people give for not getting married is that they have been told that it is easier to split apart if they are not married. This is not usually true.
No document constructed by humans can perfectly resolve all future conflicts.
However, if you are living together, but are not married, a formal Domestic Partnership Agreement can give a great deal of predictability to the eventual dissolution of the relationship.
Small to medium sized businesses often produce more liability than their owners realize.
Often the risk comes from areas that the business owner does not immediately focus on.
A useful 21 page publication has recently been made available over the internet by the Oregon Department of Human Services.
This is titled Guidance for Successful Transitions in Oregon Assisted Living and
Residential Care Communities.
In Oregon there are potentially six kinds of protective proceedings.
This article will outline the three kinds of conservatorships that are available. An earlier article addressed the three kinds of conservatorships that are available.
In Oregon there are potentially six kinds of protective proceedings.
This article will outline the three kinds of guardianships that are available. A later article will address the three kinds of conservatorships that are available.
Often people go to great effort and considerable expense to prepare a trust.
One of the most common questions that divorced or divorcing parents ask is, “At what age do my children get to decide where they want to live, or who they want to live with?”
The short answer is, at age 18.