In a situation where (in 2017) a couple has only one child, and there are no joint children, and one spouse earns about $15 an hour, or $2,600 per month (i.e. $31,200 per year), and the other spouse earns about $25 per hour, or about $4,330 per month (i.e.
There are several major kinds of trusts.
These include Special Needs Trusts and Supplemental Needs Trusts (sometimes called SNT Trusts).
They also include Revocable Living Trusts (which are perhaps the most common kinds of trusts).
There are many reasons to do a trust.
One reason is that it can simplify things if the person who does the trust ever becomes unable to manage their own affairs.
While either a husband or a wife can file a petition seeking legal separation in Oregon, in almost all cases, the other side can convert the case to a divorce case when they respond.
Having an up to date Will can be crucial to achieving your estate planning goals.
Having an up to date Will can be crucial to achieving your estate planning goals.
One of the most important things a Will can do is to name the person or persons who will raise your children if you die before your children turn 18.
In general terms, if a person has benefitted from a Qualified Partnership Plan Long Term Care Insurance policy, the person can keep extra amounts from Medicaid spend down that are equal to the benefits received from the Qualified Partnership Plan (QPP) Long Term Care Insurance policy.
While a lower income former spouse will often be awarded spousal support following an Oregon divorce, that support may be limited or reduced if the lower income former spouse has access to significant wealth or property.
Spousal support is a very complex area of law in Oregon.
A great many different arguments can be made as to whether support should be awarded after a divorce.
In Oregon there is (with rare exceptions) no such thing as community property.
However, property that is acquired during a marriage, unless it is acquired by inheritance, is generally subject to division upon a divorce.
Under Oregon law, upon reaching a certain age, a home owner can often defer real estate taxes.
There are limits to these deferrals.
As discussed in another article published on this web site, Long Term Care Qualified Partnership Plan (QPP) insurance policies can be one way to save extra resources from Medicaid.
Please see the earlier article for a more detailed discussion of this idea.
Long term care insurance can increase the amount of assets you can keep when you qualify for Medicaid.
Long term care insurance can also increase the amount you can protect from estate recovery after you die, if you have been on Medicaid.
Sometimes a person wants to draft a new will or trust, or make changes to their existing estate plan including their existing will or trust.
In most cases, this should not be a problem.
Sometimes people have a child that they want to help become established in a home.
In some cases, rather than giving the child a down payment, or the like, there is a desire to simply transfer a house that the parent already owns to the child.
A probate is conducted when a person has died, and has property or assets that need to be administered and transferred to the heirs and beneficiaries.
Some people mistakenly believe that once a Power of Attorney has been signed, the person who signed the Power of Attorney is protected against undue influence.
This is, quite simply, wrong.
What should one do if a Power of Attorney is rejected?
What CAN one do if a Power of Attorney is rejected?
It is not uncommon for a Power of Attorney to be presented to an entity, and to have that entity reject the power of attorney.
Sometimes even entities that should know better, such as health insurance companies, are confused by Powers of Attorney and Advance Directives for Health Care.
There is a rebuttable presumption of equal contribution in Oregon divorces.