It would be hard to overstate how much potential legal changes could impact your estate in the next few years. Your overall estate planning needs can change dramatically, and our firm is here to help you adjust. As it stands today we have strengths in:
• Building in flexibility through the language we include in your will and trust
• Counseling you on your choice of a financial power of attorney you trust
• Accounting diligently for complexities including your family business and succession plan
• Guiding you through decisions on long term care and Medicaid planning
• Making certain that, if you become incapacitated, your wishes are documented in a legally sound fashion that will hold up in court
At both the Oregon state and federal level, estate and inheritance tax laws are ever-evolving. Currently, you need to be concerned with tax planning if your estate approaches or surpasses one million dollars in value, but that could change in the next legislative session. Federal estate tax laws are even more subject to change than state laws: the potential inheritance tax on your estate is utterly dependent on how laws change — or stay the same — in 2010 and 2011.
If you have any questions or doubts about taxation and your estate, please contact us today. At The Hingson Law Firm PC in Portland, we engage in solid, accomplished tax planning work for those who need it. Attorney Phil Hingson leverages his many years of experience and immersion in current tax law to sort out what is right for you and your family.