Donald Rolfe

It's nobody's business what's in your Trust. This is how it stays private.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Disinheriting someone is a difficult choice to make, but a simple thing to make happen.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Experience with probate is often the driving force in choosing a Will or a Trust.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Yes and no. You and your family are better served with a comprehensive Estate Plan.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Temporary/Emergency Guardians | Short Term/Intermediate Guardians | Permanent Guardians

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Keeping your documents safe and accessible is very important.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Taking over as Trustee usually comes at a difficult time, but you need to take steps to make sure your doing your job.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Don't wait to get your Estate Plan in place, someday it will be too late.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Some basics about why we do estate planning.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Yes, but your first line of defense is having the proper insurance.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

5 Steps of the Estate Planning Process

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Here are 3 things to consider when deciding how to leave an inheritance to your children.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Three things to think about:

1. Do you have a Will or Trust based Estate Plan?

2. Is your Power of Attorney durable or not?

3. Have you given a copy of your Power of Attorney to the 3rd parties that may need them?

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

You can protect your own assets, but at a pretty high cost. It's easier, and very worthwhile, to protect the assets you leave behind.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Just writing a Will or Trust is not enough. There are certain things you must do to make what is written work.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Without a proper plan, your property may not end up going to your heirs.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

From Zero documents to over 20 documents...what's in an estate plan. Find out what should be in your estate plan by booking your complimentary Strategy Session.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Answering your questions about Estate Planning.

1. What is the benefit of someone in their thirties starting an estate plan?

2. What steps would you recommend for a young family to take regarding their estate plan when they do not have many assets?

3. When it comes to estate planning, is being married an asset or liability in Oregon?

4. Why do you think so many people put off estate planning?

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

First you need to determine who you want things simple for. From there you have many options.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

One benefit of leaving inheritances in trust is asset protection. Make sure your estate plan doesn't defeat that asset protection.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Making a gift, intentionally or by accident, can make you liable for additional taxes.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Young couples with Estate Plans can reduce conflict with in-laws in the event of a tragedy.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Moving to a new state is a life change that should trigger a review of your estate plan.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

The arrival of a first child often gets people thinking about estate planning. You don't have to wait for your baby to arrive before putting your plan in place.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Estate Planning is not all about the documents. It's also about knowing that you have a plan in place when it's needed.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

It can be a difficult discussion, but there are some basics your kids should know.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Life Insurance, Retirement Accounts, etc. - Completing your beneficiary designations is a must.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Short answer...No.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

If you are leaving an inheritance in trust, or you're the beneficiary of a trust, you need to know what a Power of Appointment is.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Owning real property in multiple states can lead to additional costs and fees if you have a Will based estate plan. In this scenario a Trust based plan may serve you better.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Setting up a Revocable Living Trust does not protect your assets. There are ways to setup your own assets protection trust, but it requires extra costs and time.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Spoiler Alert...It doesn't.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

1. A Life Insurance Trust, know as an ILIT.
2. Gifting.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

At the death of a spouse their portion of a revocable trust generally becomes irrevocable and then at the second death the whole trust becomes irrevocable.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Death and Taxes...the only certainties. However, we can control how much of an assets value is subject to tax.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Short answer - Yes.
Right answer - You Shouldn't.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Putting your child on your bank account can spell disaster. Find out how this seemingly innocent act can cost you a fortune.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

1. Incapacity.
2. Late State for Medicaid Planning.
3. After You Pass Away.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Probate is not a fun process and it can increase the cost and time of administering an estate.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Once you turn 18 you should have an Estate Plan in place.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

https://www.myestateplanmeeting.com

When splitting assets amongst your heirs, you don't have to make the values equal for things to be fair.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

www.myestateplanmeeting.com

There are generally two types of Powers of Attorney. It is important that you know the difference and know which one you do, or should, have.

Funding a Trust Info: https://youtu.be/rXHxBzdXE6g

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

https://www.myestateplanmeeting.com

Hello, I am Don Rolfe, owner of Northwest Legal Planning, estate planning and probate law firm located in West Linn, Oregon, and I am jumping on here real quick today to let you know about something I ran across with some potential clients that I met with the other day.

And it was that their will had accidentally disinherited their youngest child. So this couple had, well before I get into that, if any of this might apply to you, you can click on the link above this video or go to myestateplanmeeting.com and schedule a free time to chat with me on the phone or in person to answer any questions that you have about this, or you can leave a comment down below.

So, this couple that I met with had three children, and after their second child was born, they did the responsible thing and they went and had an estate plan prepared. And it was a will-based estate plan, and in their wills, it specifically set forth that they were leaving 50% of their estate to child one and 50% of their estate to child two, and it didn't mention anything about after born children, after adopted children.

It just simply split their estate right down the middle between the two kids. And a few years later, child number three came along. And child number three's 10 years old now. And when they brought in their wills, I was so happy to be able to find this for them and point out the fact that child number three was sort of disinherited from the parents' estate plan because of the fact that the way the plan was drafted was 50% here, 50% here, and there was no contingency for the third child that wasn't in existence when the plan was put together.

Now I run across this every once in a while where there are specific splits for the children. A lot of estate planning attorneys don't do that. I do not do that. I actually, when we're splitting things equally among kids, we will set it up so that it includes not only the children that exist at the time the plan was created but also children that were later born or adopted by the parents. But, if I didn't create your plan, or even if I did create your plan and you might have questions about that to make sure, it's something you really want to check out.

And obviously you can read, and you can probably look at it yourself, but, just, no pressure, but if it's important to you, you're probably going to want to have somebody take a look at that. And you can talk to me about that for free and I'll take a look at it for free. All you have to do is schedule a time for us to meet face-to-face and get to know one another.

So again, if you have an estate plan in place and it was put together before all of your children were born, you're going to want to make sure that you haven't accidentally set it up in such a way that the last child that was born, maybe the last two if you put this will together right after your first kid was born, make sure that you're not disinheriting the younger children.

So, anyway, again if you want to, if you have any questions about this, you can leave them in the comments below. I'm happy to answer them there. But if it's something more personal, a little bit more specific, or something different, you're always welcome to schedule an in-person or telephone consultation with me for a half hour by going to myestateplanmeeting.com. Until next time, take care, bye.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Hiring an Estate Planning Attorney should be a good experience. These are three considerations to keep in mind to help make sure that you have a good experience.

Compatibility

You and the estate planning attorney that you hire should be compatible with each other. I want to work with clients that I get along with and you should want to work with an attorney that you get along with.

Many people think of attorneys as adversarial...and they aren't wrong, they can be. However, the attorney-client relationship shouldn't be adversarial.

When I meet with a potential client an we don't click, there are no hard feelings. I'm not the attorney for everyone and not everyone is the client for me.

If we don't click I am happy to refer any potential client to an estate planning colleague.

Practice Areas

I am not a jack of all trades. I practice Estate Planning, Estate Administration, Probate; three related practice areas.

I limit myself to these practice areas to make sure I know what I am doing for my clients.

Ask any attorney that you meet with how much of their practice is focused on Estate Planning. Hiring an attorney that does everything, may mean that they don't do any one thing really well.

Attorney's Fees

All of my Estate Planning work is done on a Flat Fee Basis. Before I start work for an estate planning client they know exactly what my fee is.

I do not bill by the hour for estate planning work. I am able to do this because estate planning is all that I do. I know that it take to get the work done. I don't have to rely on billing my clients by the hour.

If you like to find out if I'm the right Estate Planning Attorney for you, or if you have any estate planning questions, please schedule a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Qualified retirement accounts are generally protected from creditors and bankruptcy. However, that protection usually only applies to you and your spouse.

When you leave a retirement account to a non-spouse, the protection from creditors and bankruptcy generally disappears. Some states do extend these protections to inherited retirement accounts...Oregon is not one of them. There is a simple solution to this issue.

Retirement Plan Trust

This a special trust designed to serve as a firewall between creditors and inherited retirement accounts. Using a trust like with will allow an independent trustee to stop creditors from getting to the retirement accounts.

You can learn more about planning with retirement accounts here - https://www.nwlplanning.com/how-to-incorporate-retirement-accounts-into-your-estate-plan/

Revocable Living Trust

You can do the same type of planning for retirement accounts using your revocable living trust. This requires that we setup separate trusts inside of your revocable living trust for each of the people you want to name as beneficiaries of your retirement plans. It also requires the addition of "conduit provision" for the payment of required minimum distributions.

If you have any questions about protecting retirement accounts, or any other estate planning questions, please schedule your Complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Divorce is common and so is remarriage. Make sure that your estate plan won't disinherit your children by accident.

If you have any questions, please schedule a time for us to chat - https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

"Funding A Trust" means to transfer you assets into your Trust.

If you have questions, please schedule a time to talk - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Worried about leaving money to an heir that couldn't handle it? Someone with drug, alcohol, or gambling problems? Here are two ways to deal with those heirs in your Estate Plan.

Disinherit The Heir

Some of my clients decide that their heir is beyond help, and they simply don't leave them anything. This is the most extreme option. However, depending upon the circumstances it is sometime the best solution.

This options saves other heirs or family members from having to manage an inheritance for the problem heir.

Leave Their Inheritance In A Spendthrift Trust

A Spendthrift Trust is a trust that gives the problem heir ZERO control over their inheritance. They are still the beneficiary of the trust, just without any control.

Instead, another person is made trustee and given complete authority and control over how the inheritance is distributed.

Creating a Spendthrift Trust for a problem heir makes sure that their inheritance is there to help them, but not there to support their additions.

For a Spendthrift Trust to work, you must have a reliable, and willing, trustee.

These are just two options available. Depending upon the circumstance one of these options might work great, or one of several other options might be better.

If you'd like to learn more about leaving an inheritance to a problem heir or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

You've heard that adding a Joint Owner or Pay On Death designation to your bank account is much easier than creating an Estate Plan. Right...and wrong. There are several reasons that "planning" this way can cause trouble. Here are a few ways issues can arise.

Nothing Left To Pay Your Final Expenses

Your estate is responsible for payment of your final expenses. This can include medical bills, funeral expenses, burial / cremation costs, etc.

With Joint Ownership or Pay On Death ("POD") accounts, your assets with transfer immediately as the time of your death by operation of law. If all of your assets are then out of your estate, nothing is left to pay your final expenses.

Your Joint Owner May No Follow Your Wishes

You think that you have found a trust person to add as a joint owner of your accounts. You've made an agreement with them that when you pass they will split everything up between your children.

This is a twofold issue:

1. That trusted person might decide to keep everything for themselves. Or maybe not everything, but they may decide they are owed a "finders fee."

2. That trusted person, even if they wanted to, may not be able to disburse everything that you have left. If the amount they need to give to your children is more than the annual gift exclusion amount they would either have to do the gifting over more than one year, or would have to deal with gift tax issues.

Adding Joint Owners Could Cause Gift Tax Issues For You

Adding anyone as a joint owner of an account or other property could trigger gift taxes for you.

For instance, if you added your child as a joint owner of your $500,000.00, that could be considered a $250,000.00 gift. A $250,000.00 gift is a taxable event that you would have to address.

If you'd like to learn more about Joint Ownership and POD's or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Unlike the Showtime Rotisserie, Estate Plans are not "Set It & Forget It." These are 4 times when you need to consider updating your Estate Plan.

ONE - Changes To Your Family
Did you have your first child or grandchild? Did you get married or divorced?

You get the idea; anytime there are additions or subtractions from your family could mean it's time for an Estate Plan Update.

As your family changes, so should your Estate Plan. Sometimes this can happen in interesting ways.

I recently worked with a client that had disinherited a daughter in her old Estate Plan. That old plan also disinherited her daughter's children which hadn't been born yet. My client was happy to find out that we could update her Estate Plan to include her daughter's children as heirs while still disinheriting the daughter.

TWO - Changes To Your Wealth
What may have work when you didn't have much in the way of assets might not work now.

You've worked hard and accumulated some assets. Now it's time to make sure that your old estate plan isn't going to cause unnecessary tax consequences.

It surprising how fast you can reach the Oregon threshold for estate taxes if you own a home.

THREE - Passage Of Time
I recommend that everyone have their Estate Plan reviewed every three years. If your plan was put together on a typewriter or printed on a dot matrix printer, it's time for a review.

Even if you haven't had changes in your family or wealth, the laws are always changing. What worked under the laws when you made your Estate Plan may not work as well under new laws.

FOUR - You Want To Make Changes To Your Estate Plan
I've seen it, my colleagues have seen it, and the court have seen it. Handwritten changes are not the way to go. Most likely any handwritten change to your Estate Plan will not be honored.

DON'T MAKE HANDWRITTEN CHANGES TO YOUR ESTATE PLAN. If you want to make changes to how your assets are distributed, or other changes, meet with a professional and get it done right.

If you'd like to learn more or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Leaving your final wishes to someone else can be a daunting prospect. Your Personal Representative or Successor Trustee could steal it all, but it is very unlikely if you plan correctly.

-Technically...They Could Take It All-

Just a likely they could rob a bank. In reality is Personal Representative and Successor Trustees don't steal from estates. Most often your estate is protected because you picked a trustworthy person.

In Oregon, the Probate Court will keep an eye on your estate.

Beneficiaries will also keep a close eye on the Personal Representative or Successor Trustee. If they smell anything fishy, they have options for correcting the situation.

-The Powers They Do Have-

Personal Representatives and Successor Trustees have lots of power. Their power comes from your Will or Trust and the State Laws.

Generally, they can do most anything that achieves your wishes and desires. However, they can't do anything illegal.

-Personal Representatives and Successor Trustees Have Similar Duties-

There are really four main duties for both Personal Representative and Successor Trustees.

1. Gather all of your assets.
2. Pay creditors.
3. Disburse your assets pursuant to your wishes, or the State Laws if you don't have an Estate Plan.
4. Close your Estate.

If you'd like to learn more or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

There are many reasons that everyone needs an Estate Plan. These are the first three reasons that come to the top of my mind because they seem to really resonate with my clients.

Put Your Worries To Bed

Having an Estate Plan can get you more sleep and night and reduce those stress wrinkles.

Knowing that you've:

1. Named the right guardians for your children.
2. Appointed someone to care for your financial affairs.
3. Expressed your wishes related to healthcare decisions and appointed a trusted agent to carry them out.

These along with many other decisions made in your Estate Plan will keep you from worry.

Make Your Own Decisions

Without an Estate Plan, you leave decisions to the legislature and the courts.

Naming the right people to fill the roles of Successor Trustee, Healthcare Agent and Guardians for your children is something you should do. However, if you don't, these decision are left to a court to decide. In the case of Guardians for you children, this can lead to fighting among family member and the appointment of a guardian you would never want.

Division of your assets is left to the State Statutes. This could lead to those you never intended to provide for inheriting the bulk of your assets.

Incapacity & Healthcare

If you become mentally or physically impaired, you'll need someone to manage your day-to-day affairs. If you're injured and can't make your on medical decisions, you'll need someone to make those decisions for you.

With a comprehensive Estate Plan you'll appoint those people and give them the direction and guidance to make the deicsions you would want.

If you'd like to learn more or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

In an ideal world we would always agree with our spouse...that is not the world that we live in. When it comes to the very important decision of choosing guardians for your children - you are not alone if you and your spouse don't agree. I don't have a magic formula for making the correct decision, but here are three strategies that should make the decision easier.

Separate The Roles

Instead of thinking that you are naming a guardian that will handle everything, think of it as naming people to two positions.

The first is the role of physical custodian. These are the people that your children will live with, learn from, and love. Here you need to think about who shares your values and is capable of instilling them in your children.

The second role is the financial role. These people will manage the money and assets you leave for your children. While it's important that they have your children's best interest at heart, they are not the people that will raise your children.

Don't Only Think Of Couples

My clients often have it set in their minds that they must name a couple as guardians. That is not completely necessary. You should consider single people as well.

Further, even if you do name a couple, there is no guarantee that they will always be a couple. Things happen. People get divorced and people die.

Consider The Relationship Your Children Have With Potential Guardians

It is important that you like the people you name as guardians for you children. It is even more important that your children like the people you names a guardians.

The guardians you name must be people that your children know, like, and trust. Keep the relationships your children have with potential guardians in the forefront of your mind when making your decision.

If you'd like to learn more about Naming Guardians for Your Minor Children or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

It's that time of year and you can smell taxes in the air. I am seeing and hearing all sorts of news right now about how everyone is getting smaller tax refunds. This isn't necessarily a bad thing. While taxes are on everyone's mind, I'd like to explore how taxes affect estate plans.

Small Tax Refunds Are A Good Thing

Is your tax refund smaller this year? Don't use that as a measure of good or bad.

You need to need to look at your actual tax liability...how much did you actually pay in taxes. If you paid less this year, congratulations. I can hear everyone right now, "but my refund is smaller."

That is great - your refund is a return of a no-interest loan that you made to the government. Loaning out money for free is no fun. Plus, that means you had more money in your pocket with every paycheck in 2018.

Federal Estate Tax

The good news is that 99% of everyone reading this will never have to pay the Federal Estate Tax as it is currently structured. The current Federal Estate Tax Exemption is $11.4 million. That means not one dollar is taxed until your estate is over $11.4 million.

Further, if you are married, when you die your unused exemption can be ported over to your spouse. This allows them to use their exemption and your leftover exemption when they die.

Oregon Estate Tax

Oregon is a totally different animal. The Oregon Estate Tax Exemption amount is only $1 million. That means anything in your estate over $1 million (that you don't leave to your spouse) will incur Oregon Estate Tax.

Further, the Oregon Estate Tax Exemption is not portable. Rather, it is a use it or lose it exemption.

How To Pay Less In Estate Tax

Buy creating an Estate Plan that takes the Estate Tax into account, you can substantially reduce your Estate Tax burden. You may not be able to reduce it to zero, but you can make sure that you don't pay more than your fair share.

If you'd like to learn more about Taxes & Estate Planning or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Considering your healthcare decisions in advance is an important part of creating an Estate Plan. The three healthcare documents that most people are concerned with are the POLST, Advanced Directive, and Healthcare Power of Attorney.

POLST

The POLST, or Provider Orders for Life-Sustaining Treatment) is a medical order not a legal documents. Not everyone needs a POLST. This document is prepared with a physician, and sets forth whether you would want extraordinary measures taken to save you life. These measures include CPR.

Physicians will often start a POLST dialog with patients that are in declining health...this is not an order for everyone.

Advance Directive

An Advance Directive gives instructions for care for serious conditions when you are unable to make decisions on your own. Every adult should have an Advance Directive. In Oregon, Advance Directives take a form set forth in the Oregon Statutes.

Effective January 1, 2019, Oregon has a new Advance Directive form. If you already have an Advance Directive it will still work, just know that if you fill out a new one it will look a little different.

This document appoints your healthcare agents and gives them instructions related to feeding tubes and other artificial life-support measures. It allows you to refuse those artificial measures, state that you want them, or that you only want them on the advice of your physician.

Healthcare Power of Attorney

Like the Advance Directive, this document also appoints your healthcare agent. However, the Healthcare Power of Attorney gives your agent many more powers related to your healthcare decisions.

Some additional powers are: management of pain medications, coordinating in-home care, and coordinating your general medical treatment. The Healthcare Power of Attorney shines when you are not in an end of life situation, but are unable to make decisions for yourself.

The Estate Plans that I prepare include an Advance Directive and Healthcare Power of Attorney (I call it an Advance Directive Addendum). These are important choices that every adult needs to make.

If you'd like to learn more about Healthcare & Estate Planning or have any other Estate Planning questions, please schedule a complimentary Estate Planning Strategy Session - https://nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Not everyone is ready to handle inheriting a lump sum of money. This is especially true of young people that don't have the life experience to appreciate the value of money and haven't acquired the skills to manage money. Many inheritances disappear in the matter of a couple of years or even in a matter of months.

It Can Happen to Anyone

Anyone inheriting money can look up a year later and realize that the money is gone and they don't know where it went. This is especially true for younger people. I knew a young man that received over $250,000.00 on his eighteenth birthday. Within 18 months it was all gone and he had nothing to show for it. The money went to a car that was totaled, to computers that were old tech within a year, to parties, to trips, etc. In the end all he had to show was some debt.

You Can Protect the Inheritance You Leave

Even if you are leaving a small inheritance you can make sure that when it is used there is recognition of where it came from. We call this an "I Love You Trust." Basically, it is a trust that allow the beneficiary complete access to the money. However, when they spend money from the trust they know where it came from. So even if the beneficiary is very well off, when the use the trust money for a family vacation they know that mom and dad did that for them. Much better than mixing it in with their checking account and not knowing what it was used for.

On the other extreme, if there is a beneficiary that could never handle and inheritance on there own, a trust can be put on lockdown. This type of trust would only give the beneficiary access if an independent trustee agreed.

Between those two extremes are lots and lots of options for allow different levels of access to the trust assets.

Wasting / Wasted Inheritance

After you have read this post, go to your favorite search engine and search "wasting inheritance" or "wasted inheritance." You will see scores personal stories from people that wasted their inheritances. You don't even have to click on the links, the search result summary should be enough to paint the picture for you.

If you'd like to learn more about protecting the inheritance you leave, let's talk about it, just schedule a complimentary Strategy Session with me.
https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Whether you know it or not...whether you want it or not...you have an estate plan even if you've never signed one. In Oregon, (really in every state) our legislature created and the governor signed an "estate plan for all." Unless you do something to change it, that estate plan created by the State will decide who gets your stuff when you are gone.

Dying Intestate

When you die without an estate plan, you are said to die intestate. In that case (which happens all the time), the laws of the state kick in and dictate who will get your assets. You can read the Oregon Law by clicking here. Basically the State has set up a hierarchy of who will get your assets. It doesn't matter if you never had a relationship with the person, if they are the correct relative they will inherit from your estate.

Guardians For Minor Children

Without and estate plan, a judge will decide who will raise your minor children. You have no say in the matter after you are dead. Often times more than one family member will petition the court for custody of children. I have been involved in those cases and they can get very ugly.

Often times there can't even be an agreement on temporary custody while the court is deciding. In those cases the children often end up in foster care while the court case is open.

Make Your Own Decisions (Don't Leave It To A Court)

There is no need to leave these decisions to the State. Creating a estate plan is not that hard, and doing so will ensure that your wishes are cared out...that your children are raised by the people you choose...and that the likelihood of a fight in your family is very low.

If you'd like to learn more about why you should have your own estate plan, please schedule a complimentary Strategy Session with me - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

As they say..."there is more than one way to skin..." The same is true with leaving assets to your children. There are good ways, traditional ways, ugly ways and everything in between. Here are four of the most common ways to leave assets to your children.
1. Outright Distribution
Leaving money to your children outright is the most basic way possible. You have cash, the cash is handed to your children. You have a house, the house is retitled in the child's name. However, if your children are minors they cannot inherit outright and a conservator will need to be appointed by a court. Stay tuned for a future episode explaining the magical vanishing 18 year olds inheritance.

2. In Trust - Full Withdrawal Rights.
With this method, the assets are left to your children in a trust, but they are give full right to withdraw those assets for any reason. This method, much like outright distribution above, does not provide any way to make sure your child's inheritance with last.

3. In Trust - Stated Ages / Distribution Trustee / Income
This method is also left in trust, but with varying degrees of protection from waste. You can set it up so the child will get the income from the trust every year. You could give them access to the principal of the trust, but only with the approval of an independent distribution Trustee. There is also the method of allowing your children to withdraw a certain percentage of the trust assets at they reach certain ages - such as 25% at 30 years old, 50 at 40 years old and 100% at 50 years old.

4. Unitrust
This allows your children to with draw on an annual basis a stated amount or percentage of the trust assets. Something like 5% or $5,000.00

5. Bonus Method
Any combination of the four methods above. How you leave your assets to your children is very flexible. Often blending these methods together is the only way to reach your desired goal - this is one of the benefits of working with an estate planning attorney.

If you'd like to learn more about leaving assets to your children, please schedule a complimentary Strategy Session with me - https://www.nwlplanning.com/schedule-consulatation/
https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Retirement accounts are often very misunderstood. Dealing with how to incorporate them in your estate plan can seem very difficult. Here is some basics, but you really need to speak to a professional about your particular circumstances.

Don't Title Them Into Your Trust

You have your Trust and now you are working on funding it. Your attorney (or online service) told you to put all of your accounts in the name of your Trust. Hold on, don't do that with your retirement accounts. Retirement accounts are treated differently when it comes to taxes; they are also exempt for most collection actions. If you change the ownership of your retirement accounts that will trigger a tax and you'll loose that collection exemption. If someone tells you to change the name on your retirement accounts...get a second opinion before you do anything.

Primary Beneficiary

If you're married, 9 times out of 10 your should name your spouse as the primary beneficiary. Inheritance of a retirement by a spouse retains the exemption as if they were the original owner of the account. Of course you might be that 1 out of 10...seek professional advice before you make a final decision.

If you are single, see the contingent beneficary section below.

Contingent Beneficiary

When a non-spouse inherits a retirement account it looses the exemption protections unless you live in a handful of states (Oregon is not one of them). The general best practices it to leave make sure you name each person or organization you want to get part of your retirement account separately - don't name only one person and expect them to share. If you are interested in protecting your retirement accounts from creditors, then there are ways to name a trust to do just that. However, you must name the trust in a specific way and should get the advice of a professional.

If you'd like to learn more about incorporating your retirement accounts into your estate plan, please schedule a complimentary Strategy Session with me - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Most people think of Estate Planning solely as an end of life tool. That is an essential part of Estate Planning, but there are more. I like to think of the end of life portion as the pinnacle of a pyramid. At the base there is getting an understanding of your estate; things and people. As we move up the pyramid there is healthcare, incapacity, and how your life is maintained.

Taking An Inventory

Every client I work with completes an Estate Planning Inventory and Assessment. This includes who you are, who your beneficiaries are, who your decision makers are, what your have (your assets), and your wishes. Completing this Inventory and Assessment gives you a complete picture of the current status of your Estate.

Incapacity

Whether medical, physical, or mental incapacity, an Estate Plan provides for how you and your things are managed when you can't manage them. This includes appointment of healthcare decision makers, financial decision makers, and instructions to those decision makers.

End Of Life

Setting forth the explicit directions on who will get what. Also, how taxes should be paid, the process by which your estate is administered (Private or Public), guardians for minor, etc.

If you'd like to learn more about estate planning, please schedule a complimentary Strategy Session with me - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

As parents we all worry in the back of our heads about our children being cared for after we are gone. Hopefully we all get to see our children grow into adulthood and never have to worry about guardians and leaving money to minor children. As the saying goes, "hope for the best, plan for the worst."

Minors Cannot Directly Inherit Money & Assets

In most states a person under the age of 18 cannot directly inherit money & property and be in control of it. Rather, the laws require that a third party be appointed to manage and care for the minor's assets.

This third party can be a custodian or a trustee depending on the type of Estate Plan involved.

In the event you have a Will based Estate Plan, or no Estate Plan at all, the third party will mostly likely be referred to as a custodian. You can name a custodian in your Will. If you have no Will a judge will appoint a custodian. In either case, the custodian must be approved and appointed by a judge.

In the event that you have a Trust based Estate Plan, you can leave your children's inheritance to them in a Trust and select the Trustee for that Trust. Absent some unforeseen turn of events, there is no need for a judge to get involved.

Also, the people you choose as guardians for your children can, and often should, be different than the person you name as Trustee or Custodian. That way your children can have the best of both world after losing everything; the right people raising them and the right people looking after their inheritance.

If you'd like to learn more about leaving money and property to minors, please schedule a complimentary Strategy Session with me. - nwlplanning.com/schedule-consulatation/.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

A couple that I worked with this year was surprised to learn that they need a Will to go along with their Trust based Estate Plan.

This couple came to me with a Will based Estate Plan that they had for years. There was nothing wrong with their plan when it was setup. However, as time passes, circumstances change as to your Estate Planning needs.

After learning about their current circumstances, we all agreed that a Trust based Estate Plan was right for them.

When they came in for their signing cermony, we reviewed their Trust and other documents. The couple was surprised that switching form a Will based to Trust based Estate Plan would require them to still have Will.

There Are Two Main Reasons You Need a Will With Your Trust

REASON #1 - You pass away before your Trust is fully funded.

This can happed if you pass away before you have time to fund your Trust, or if there is a mistake/oversight and an asset is properly funded into your Trust.

In this case, your Pour-Over Will directs that you are leaving your probate assets (those not funded into your Trust) to your Trust. Once the Probate is complete, all of your assets are then handled pursuant to the terms of your Trust.

REASON #2 - Your Trust is invalid for some reason.​

It doesn't happen often, but there is always a change that your Trust can be found to be invalid.

It could be an error in executing your Trust, or due to an heir challenging your Trust in Court.

No matter the reason, if your Trust is invalid your assets will need to go through Probate. In this case, your Pour-Over Will directs your Personal Representative to setup a new Trust with the same goals, heirs and wishes as your invalid Trust. Then all of your assets are left to the new Trust and your assets will go where you wanted them to go in the first place.

Hopefully Your Pour-Over Will Never Gets Used.

As you've heard me say in the past, a goal of having a Trust is to avoid Probate. That means that our goal is to never use your Pour-Over Will.

Despite our goal, we never want to put all of our eggs in one basket and having the Pour-Over Will is an insurance policy for your Estate Plan.

If you have any questions, or want to learn more about Estate Planning, please schedule a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation/.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

Just last week I met with a client with three children. They wanted to leave the home they had built to all three of their children.

This can, and often is a bad idea. When you leave a single piece of real property to more than one person, conflicts can often arises. Most likely they will take ownership as tenants in common...meaning that each of them owns a undivided interest in the whole property.

The conflict comes in determining how the real property will be used. Who gets to live there? Who pays the property taxes? How much is reasonable to pay the owner managing the property.

I often advise my clients to choose one person to inherit the each piece of real property and offset the value of the real property with other assets to other beneficiaries.

If it is a must that the property must stay in the family, there are solutions to set down rules for the use and enjoyment of real property. Those solutions are often expensive. If its important that to you that you leave real property to more than one person, then the expense is well worth it.

If you have any questions about leaving real property to your heirs, or any other estate planning questions, schedule a complimentary estate planning strategy session - https://www.nwlplanning.com/schedule-consulatation/

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

"How do I avoid probate?" "Why should I avoid probate?"

I get asked questions like this all the time. Many people have heard that avoiding probate is a good thing, but they aren't sure how and why.

The how is relatively easy...create a Trust based estate plan. By having a properly funded trust, your estate will not require a probate.

The why varies from person to person. Some the most common and compelling reasons are:

- A trust keeps everything private. If your estate requires a probate, everything filed with the court is a public record.

- There is rarely need for court involvement during the administration of a trust. This simplifies the process by not having to make court filings and making sure that you are meeting all of the court's requirements.
- Cost. While not exorbitant, there are filing fees to open and close a probate. Further, due to the number of notice and filing required a probate usually requires more attorney hours.

So now that you know the why and how of avoiding probate the next step is to get your estate plan started.

If you'd like to find out what plan is right for you, or you have any estate plan related questions, schedule a complimentary estate plan Strategy Session - https://www.nwlplanning.com/schedule-consulatation/.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning

One of the most common questions I get about estate planning is "What's the difference between a Trust and a Will?"

Trusts and Wills are documents that you create during your life that direct who your assets go to after you pass away. The main difference is that a Trust works during you life and a Will only works after you've passed away, its submitted to probate, and the probate court accepts it.

Trusts have the advantage of allowing your successor trustee to step in and manage your affairs if you become incapacitated. A properly drafted, executed, and funded Trust allows a seamless transition without the involvement of a court or the need for other documents.

Another advantage of Trusts is that they are private. Wills on the other hand become public once they are filed with the court.

In Oregon, the main advantage of a Will is the ability to name guardians for your minor children. You can also accomplish this with a Trust based estate plan by also having a Will that names those guardians and leaves the distribution of your assets to the Trust.

Most people I work with go the Trust route. However, it depends on your specific circumstance whether a Trust or Will estate plan is right for you.

If you'd like to find out what plan is right for you, or you have any estate plan related questions, schedule a complimentary estate plan Strategy Session - https://www.nwlplanning.com/schedule-consulatation/.

https://www.myestateplanmeeting.com
_________________________

Don is the owner and founder of Northwest Legal Planning, LLC, an Estate Planning, Probate, and Trust Administration law firm located in West Linn, Oregon.

Meet Don and get answers to your Estate Planning Questions by scheduling a complimentary Estate Planning Strategy Session - https://www.nwlplanning.com/schedule-consulatation

Website - https://www.nwlplaning.com
Estate Planning Blog - https://www.nwlplanning.com/blog
Facebook - https://www.facebook.com/nwlplanning
Twitter - https://twitter.com/nwlplanning