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.