If you divorce, will a future inheritance from your parents be taken into account in determining the award to your spouse? In Oregon, the answer is generally no. Continue reading
Although banks were commonly named as executors many years ago, this is seldom true anymore. But it certain cases, it still makes sense.
If your children have issues with each other, the child named as executor will have a thankless job. The child’s siblings will be miffed that they were not appointed executor. They will continually contend the executor is acting out of self-interest or favors some siblings at the expense of others. Continue reading
Choice of executor (sometimes known as “personal representative”) can be the most important part of your will.
In general, most married couples name the surviving spouse as executor. The more difficult choice is the executor upon the death of the surviving spouse. In a harmonious family, one or more of the children is usually a prudent choice. Which one? All things being equal, a child living nearby is a better choice than one living 1,000 miles away. Continue reading
Living trusts (also known as revocable trusts) are will substitutes that are frequently promoted as an “avoid probate” panacea everyone should have. As in TV commercials for medications, however, I need to share several unfavorable “side effects.”