While on the campaign trail, then-presidential candidate Joe Biden presented a tax plan that promised to return the federal estate and gift tax exemption to its pre-Tax Cuts and Jobs Act (TCJA) amount of $5.85 million, and to increase capital gains taxes on upper-income individuals (among other provisions). Instead, when he announced the “American Families [...]
When it comes to estate planning, even the smallest error can cost you. It’s not just your life’s work that is at stake, but your family’s long-term well-being and, in the worst of cases, your family unity. Oversights in your estate plan may not only be costly but can also provoke irreparable conflict among loved [...]
When someone passes, any remaining debts of a person’s estate must be paid. In order for a person’s beneficiaries to receive any remaining assets, these debts must be taken care of. This is where the executor of an estate comes into play. So, what does an executor of an estate do? What power does an [...]
You probably have a lot on your mind as your high school senior prepares to graduate. College applications, campus visits, and trips to a Target for dorm room decor can all be bittersweet for both you and your child. One thing that often gets overlooked in the flurry of these activities is that your son [...]
Wills have been around far longer than word-processing technology and, of course, they were originally prepared by hand. It should come as no surprise, then, that handwritten wills continue to be valid in most states, albeit only when certain requirements are fulfilled. In Oregon, these requirements are (1) that a will be in writing, (2) [...]
Estate planning exists to protect the people and things you care about the most, but when you consider wills and trusts, have you accounted for your pets? The reality is that part of being a responsible pet owner is including them in your estate plan through a pet trust. For many people, pets are members [...]
It’s easy to plan your life while you’re still roaming this planet. Putting together a grocery list for tomorrow night’s dinner; booking a flight for a vacation you plan on taking in a few months, or even setting financial goals that you expect to achieve 5-years down the road—these are all relatively painless plans to [...]
Most people don't know much about probate, except that they want to avoid it. In our recent workshop for probate administrators and trustees, we noticed that a lot of the attendees submitted the same questions. Below are the 5 most asked questions about probate and trust administration, with answers from probate lawyer Tasha Lyn Cosimo. [...]
At their core, wills and trusts are both estate planning tools people use to protect their assets and their families. These documents are generally thought of as the two primary means of protecting and distributing one’s assets upon death. Many estate plans contain both a will and a trust, despite the fact that the goal [...]
Talking about estate planning with loved ones can feel unsettling for some. Unfortunately, the most difficult conversations are often the most important to have. In many cases, it is paramount to speak with your beneficiaries or heirs to let them know what your estate planning documents entail. Because estate planning documents are designed to protect [...]
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