Simple, and Not So Simple – Estate Planning
When you meet with your estate planning attorney at Harris Velázquez Gibbens, you will learn that our philosophy about estate planning encompasses more than the distribution of property at your demise. It also includes: Creating a comprehensive plan for health care decisions in the event of a mental or physical incapacity prior to death; Perhaps drafting a Living Trust or inter-vivos gifts (gifts made to your heirs while you are still alive) to avoid or lessen the costs of a probate or avoid inheritance taxes. Estate planning with Harris Velázquez Gibbens includes whatever makes the most sense for you.
Visit our Elder Law specific page for information about Medicaid, Medicare, Elder Abuse, Long Term Care Planning, Grandparent Rights, Nursing Home issues, Social Security, Advanced Medical Directives, and Spending Down.
The Basics of Estate Planning
A basic estate plan, which is generally sufficient for most people, is made up of at least three legal estate planning documents.
- Durable Power of Attorney
- Advance Medical Directive
Having a basic estate plan is a good idea for everyone, regardless of his or her age or health condition. And its not expensive. In fact, its more expensive NOT to have an estate plan.
Estate Planning – More Complex Estate Plans
As a person’s estate grows, or as family issues arise, such as stepchildren, blended families, passing down the family business, or children with special needs, more complicated devices may be necessary to effectively execute your desires.
More complex estate planning can include:
- Nursing home and assisted living concerns
- Insurance planning and life insurance trusts
- Revocable and Irrevocable Trusts
- Life Insurance Trusts
- Asset Protection Plans
- Business Succession Plans
Do You Own a Small Business?
A solid estate plan is an essential part of any family business succession planning. Setting out clearly who will be in charge of the family business once the founder or owner is no longer able to manage a business is essential. In most cases, if your business is a substantial part of your estate, you need to make sure that the person in charge of your estate understands what your desires are for operating and maintaining the business. Family conflicts are common when businesses are passed down from one generation to another. Establish clear lines of authority, through the use of trusts or disposition by will. Your heirs will thank you.
A well-drafted estate plan will minimize the amount of your estate subject to tax. Even a relatively simple marital bypass trust included in your will can double the amount exempt from State and Federal taxes. The wise use of Life Insurance Trusts (LIT’s), living trusts, and planned giving are other simple ways to legally and wisely manage tax consequences to your heirs.
Act Now – Estate Planning
It’s very easy to put off estate planning. No one relishes thinking of the reasons we need to do estate planning or hurting someone’s feelings. But creating an estate plan, or revising an existing plan to reflect changes in your life, is one of the best things you can do for your loved ones — and yourself.
If you have considered how your estate should be set up and think “I don’t need to do it today; it can wait,” you could not be more wrong. Creating your estate or making changes is a major decision and time will not wait.
We Will Help With Estate Planning
Harris Velázquez Gibbens attorney services have been helping clients in Beaverton, Lake Oswego, Portland, Sherwood, Tigard, Tualatin, Wilsonville and Hillsboro Oregon for over twenty years. We have experience communicating the complex details that complicate wills and trusts in a manner that everyone can understand. We will make certain that we listen and find out what YOU want to do with your estate and your healthcare. You will not feel like a bystander while someone else makes decisions about planning for your future and the future of your family.
Wills and Revocable Trusts Compared
Check out Rob Harris’s article comparing Wills and Revocable Trusts. An informative read for those figuring out what type of estate plan they need.
Putting solid estate planning tools in place is an important part of ensuring the financial future of your family. Even something as simple as establishing a simple will, or assigning somebody as power of attorney over healthcare can make a significant difference in how your family and heirs will have to deal with issues at the time of your death or disability.
Without putting simple estate-planning tools in place, you are turning your estate over to the State of Oregon to decide what to do with the remaining assets. Hire an Oregon qualified estate planning attorney.
Flat Fees – Effective, Efficient, Accurate.
A complete basic nontaxable estate plan, including a simple Will, Durable Power of Attorney, and Medical Directive can be delivered to you for a flat fee amount, so you know what you’re going to pay from the start. Just ask the attorney for our current affordable rates. Let us show you how simple it is to start your plan right away, right now, and make sure that your family assets are protected and disposed of the way YOU want. Call now for a free telephone consultation and fee quote. 503-648-4777.
Our Estate Planning Attorneys
Contact Us Today For Help – Free Phone Interview
Contact our lawyers today so we can begin working towards a favorable solution to your legal concerns. We also offer a free 15-minute telephone interview if you are not yet ready to hire an attorney. See details below
Free 15 Minute Phone Interview
Harris Velázquez Gibbens offers a free 15-minute interview to see if one of our attorneys can meet your legal needs. This interview includes you providing a brief outline of your legal matter, and a discussion of our legal philosophy and how we would approach your case. It also includes a summary of our fees. It does not include an in-depth consultation or giving of legal advice regarding your particular case. For that, you must schedule a legal consultation, for which there is a charge. A legal interview DOES NOT create an attorney-client relationship. It is for background information only so that you can determine if you would like to retain our services.