I live in Oregon currently. Please refer me to a YT channel or website where I can access the same information for Oregon laws. I am currently going through probate as a PR but want to avoid putting me two children through this when I die. I am considering moving to Washington in the near future. Nevertheless, I need to draw up my own plan for these issues as soon as possible. Thank you.
Instead of going to youtube I'd just reach out to a lawyer for a consult. And, though I'm not licensed in OR, I can tell you OR law is VERY close to WA law - what you hear here is going to carry over there (except the estate tax exemption info - OR has different limits).
Thanks, very helpful. My mother used some of these techniques, and for the most part they worked. One that didn't, she put me as JTWROS on her house. I had to pay a bunch of capital gains taxes.
I really learned a great deal from you. It really makes me wonder why probate is even necessary especially in my case both parents are deceased and load out of will long before me and my brothers had children. Now moving forward both parents are deceased and both brothers are deceased, leaving just me. I had two adult sons and each brother has an adult daughter. One brother's daughter has two children. I'm still saying my mother and father purchased this house in 1972 and only left everything to myself and two brothers. Tom said change the government may have changed, my parents wishes were not changed and no there is no will that has been notarized or witnessed by two people. I really dislike all this is causing me hell. Thank you though for the knowledge you have given me.
We see touting of Revocable trusts by lawyers but few drawbacks. What is the effect on ad valorem exemptions (often a big tax discount - for personal domicile) by transfer of a residence to a non-human [fictitious entity - cite cases]?
