WILLS FOR SECOND MARRIAGES

Estate planning for second marriages is difficult. There is a constant tension between ensuring the continued support of the surviving spouse and ensuring that the decedent’s children are not disinherited. Here are some options and recommendations. (In the interest of brevity, I will use “husband” to refer to the first spouse to die, and “wife” to refer to the surviving spouse.) Continue reading

OREGON ESTATE TAX PLANNING WITH GIFTS – BE CAREFUL

Oregon’s estate tax only applies to the decedent’s wealth on the date of death. ORS 118.010. And Oregon has no gift tax. Thus, if assets are given away before death, by even one day, the tax is zero. But gifts can backfire. Here’s why. Continue reading

DO I HAVE TO FILE ESTATE TAX RETURNS?

A threshold issue an executor or trustee must resolve is whether an estate tax return is required. If so, the return must be filed (and the tax must be paid) within nine months of the decedent’s death, although the filing date can be extended for six months. Continue reading

BUSINESS ENTITIES — LIMITS ON LIMITED LIABILITY

The overriding benefit to doing business through an entity is limited liability. But there are numerous gaps in liability protection that may not be obvious. This article describes those gaps and how they may affect you. Continue reading