Estate planning is fundamental to securing your legacy, by creating legal documents that protect your assets, and by ensuring that future generations are properly attended to.
Crafting a proper Estate Plan allows you to pass on your legacy with as little governmental interference (i.e. Taxes) as possible, while protecting and providing for your family.
Perhaps the most common question we hear is, what's the difference between a Will and a Trust?
A Will is a legal document that is read by the court to determine how your assets are distributed upon your death. According to the Oregon State Bar "...probate court takes a minimum of four (4) months. If the estate includes property that takes a while to sell, or if there are complicated tax or other matters, probate can last much longer."*
Our Will plan includes: a Will, Durable Powers of Attorney, and Advanced Directives for Healthcare. These documents will ensure that the court process moves smoothly and protects your family from the turmoil that can result from litigation.
*QUOTE TAKEN DIRECTLY FROM THE OSB WEBSITE.
A revocable living trust provides a mechanism to pass on your assets upon your death without requiring probate court. Basically, a revocable living trust is an instrument which assets are transferred to in order to be managed by a Trustee.
During your lifetime "you alone" or "you and your partner" will remain trustee(s). Upon your death whomever is listed as the successor trustee will be able to distribute your assets in accordance with your wishes without requiring probate court.
Our Trust Plan includes: A Trust, Tax Planning, Initial Funding, Pour Over Will, Powers of Attorney, and Advanced Directives.
Contact us today for a consultation to discuss a plan that works for you and your family.
Entity formation is crucial in the initial forming of a business. There are many entity options to choose from and each has different tax and liability issues. Choosing the proper entity and following the necessary filing process is the first step to creating a thriving business while protecting yourself from the personal liability that comes along with it.
Filing is only the first step; there are maintenance issues, tax issues, and other considerations that must be thoroughly understood to properly insulate yourself from personal liability.
Let our office help you through this process, while giving you the insight and understanding you need to protect yourself and your business today and in the future.
*Probate is a legal process whereby a court oversees the distribution of assets left by a deceased person. Assets are anything a person owns with value, such as real and personal property and cash, for instance. Probate is not always necessary. If the deceased person owned bank accounts or property with another person, the surviving co-owner often will then own that property automatically. If a person dies leaving very few assets, such as personal belongings or household goods, these items can be distributed among the rightful beneficiaries without the supervision of the court.
*TAKEN DIRECTLY FROM THE OSB WEBSITE.
Jorden J. Piraino, is licensed to practice in the state of Oregon. Our principal office is located in Portland, Oregon. The information provided on this web site is offered for informational purposes only. It is not offered as legal advice and does not constitute legal advice. The Law Office of Jorden J. Piraino, LLC. does not seek to represent you based upon your visit to or review of this web site. This web site may be considered advertising under the rules of Oregon. You should not make legal decisions based upon brochures, advertising, or other promotional materials.
Law Office of Jorden J Piraino lLC
PO Box 82759