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Real Life Bloopers By Estate Planning Practice Group SAALFELD GRIGGS PC Sometimes people don’t get around to updating their estate plans. Here are some recent examples of what can happen when they don’t: A man signed a will that gave everything to his children from his first marriage. The man then remarried. However, he was …
Planning They Will Thank You For: Specialized Estate Planning for Children By Estate Planning Practice Group SAALFELD GRIGGS PC As parents, the age old question has always been how much freedom to give your children. In the world of estate planning, the same question must again be addressed. When your child was sixteen, I have …
Planning for Business Owners By Estate Planning Practice Group SAALFELD GRIGGS PC Few people have more estate planning issues to deal with than family business owners. The business may be the most valuable asset in your estate, yet two out of three family-owned businesses do not survive the first generation. Following are four key questions …
Oregon’s New (Stealth) Tax: The State Inheritance Tax By Jeffrey G. Moore SAALFELD GRIGGS PC Mention that the Oregon legislature intends to increase state income taxes and you’re likely to not only see the news splashed across the front pages, but some folks readying to storm the castle. There is a new tax, however, that …
New Rule Allows Deferral of State Death Tax By Estate Planning Practice Group SAALFELD GRIGGS PC The new Oregon inheritance tax, passed by the 2003 Legislature, can trigger a state death tax at the death of the first spouse to die. Under recent administrative rules issued by the Oregon Department of Revenue, in appropriate cases …
Lions, and Tigers, and IRAs! Oh MY! By Jeffrey G. Moore SAALFELD GRIGGS PC After saving for decades, many people consider their most significant asset to be their qualified retirement plan or their Individual Retirement Account (IRA). It is not uncommon for a client to come into our office and lament that they never should …
Kids, The Inheritance Is All Yours, But… By Estate Planning Practice Group SAALFELD GRIGGS PC Do you worry about your children spending their inheritance unwisely? Or the money lessening their incentive to work? Or whether it will cause them to stray from the core values you feel are important? These are increasing concerns for many …
Joint Ownership: Rethinking America’s Most Common Form of Ownership By Estate Planning Practice Group SAALFELD GRIGGS PC One of the most common forms of ownership is joint ownership. I often encounter the situation where individuals are using joint ownership as their primary estate planning tool. The basic premise of joint ownership is that, upon the …
It’s That (Ending) Time of Year Again: Some Taxing and Not-so-Taxing Thoughts for Yearend By Jeffrey G. Moore SAALFELD GRIGGS PC As yet another year comes to yet another surprisingly quick close; here are some things to consider before you ring in 2006. GOING, GOING, SOON TO BE GONE… No, we’re not talking about the …
IRS Issues New Rules on Minimum Distributions From IRA’s By Estate Planning Practice Group SAALFELD GRIGGS PC The IRS recently issued new rules on distributions from IRA’s and qualified retirement plans. The new regulations not only simplify the distribution rules, but also reduce the required minimum distributions for the vast majority of individuals. This means …