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With many years of experience in this area, estate lawyer Phil Hingson is adept at drafting revocable and irrevocable trusts addressing specific challenges, including:
- Tax planning to maximize assets passed on to loved ones
- Needs of “blended families” with children from multiple marriages
- Inclusion of specific language to help preserve assets for children having difficulties in life
We help many clients in a range of financial situations — from smaller to multi-million-dollar estates — identify appropriate solutions for protecting assets and carrying out their wishes. Attorney Phil Hingson has extensive experience in trust administration.
To arrange a personal, caring consultation with a lawyer who can clearly explain your options for your estate planning needs, please call or e-mail us today.
A revocable living trust (RLT) is an excellent solution for many people who want to avoid probate and minimize the potential for disputes while still keeping control of assets during their lifetime. Our firm is an excellent resource for creating an RLT or one of many other types of trusts that may be appropriate, such as:
• An income cap trust, often used as one planning tool to help people receiving needed Medicaid benefits and planning for long term care without exhausting critical assets
• Insurance trusts that may help preserve assets by setting aside money to pay estate taxes
• A special needs trust enabling you to leave money to heirs on needs-based government assistance without disqualifying them from receiving benefits
Perhaps the most common reason people choose to set up a trust, rather than only a will and durable power of attorney, is to save their survivors and heirs the time and costs of probate. We have drafted trusts to accomplish this goal, carefully tailored to clients’ individual needs. Please contact us to speak with Phil Hingson, a lawyer determined to create a trust that accomplishes your objectives.
Contrary to what many people believe, having a will alone is not sufficient to avoid the probate process in Oregon — and, while in place for many good reasons, probate can take months or even more than a year depending on circumstances. Legal costs well into the thousands of dollars may be incurred even on a fairly routine case.