12Law Arrow 12Law Arrow  Easy Questions  
12Law Arrow 12Law Arrow Instant Legal Documents
 
 
FINANCIAL & MARITAL

Cohabitation Agreement coming soon!
Separation Agreement coming soon!
No-Fault Divorce coming soon!
Bankruptcy coming soon!
 
 

Limitations of a Last Will and Testament in Pendleton, OR

Limitations of a Last Will and Testament in Pendleton, OR


A hundred years from now it will not matter what my bank account was, the sort of house I lived in, or the kind of car I drove...but the world may be different because I was important in the life of a child.
 
- Forest E. Witcraft


Last Wills are a wonderful way of addressing the needs of loved ones in estate planning but not everything can be carried out by your Last Will.

What a will won't do includes the following:

Bequeath Certain Kinds of Assets or Property. You cannot use your will to leave:

• Property that is in the Living Trust

• Life insurance policy proceeds that has a beneficiary in it

• Money in the retirement plan that has beneficiary indicated in its forms.

• Stocks or bonds held in beneficiary and has transfer-on-death or TOD form. If you want to change the beneficiary, contact the brokerage company

• Money in a payable-on-death bank account.

• Joint tenancy. Leaving a property that is not entirely yours but is co-owned with someone else automatically transfers the entire property to the surviving co-owner. Your share that was indicated in your will can only go to it beneficiary if the all owners of the property dies simultaneously.

Direct Funeral Arrangements

It would be wise to make separate documents regarding your wishes and inform your executor its location when needed. It sometimes takes days or weeks for a will to surface after death and memorial services or wishes indicated may not be executed.

Reduce Estate Tax

Having a will won't help evade taxes. If you are expecting your estate to owe federal taxes, start taking steps to decrease your tax liability. In terms of tax bills, there are many trusts that can reduce or for postpone it.

Avoid Probate

Establishing the validity of a will can take months or years of being tied up in a probate court before final contribution of the property commences.

Apply Certain Conditions on Gifts

A gift that is awarded via a will should not contain condition attached like a contingent on marriage, divorce or change of religion of the receiver. You can only include lesser influences like leaving money for a certain person when he goes to college. Making conditional gifts can sometimes open a can of worms because questions will arise as to who will enforce the wills' condition and for how long.

Leave Money for Illegal Purpose

This is a rare situation, but you cannot allocate money for use on something illegal.

Arrange to Care for a Special Need Beneficiary

Long term care for someone with special needs will be better off in a trust that is tailored to the persons' needs. It will not jeopardize government benefits as well as it can provide extra income for the person and its family that can be use in his care.

Leave Money to Pets

Pets should be left to new owners who will take care of them. Leave the money to them to help with your pets' related expenses. Pets cannot own property so leaving property directly to them is not a good idea. Trust are allow in some other states but won't be necessary if you have confidence in the person whom you left your pet(s) with after you pass away.
 
Personalize & Print a Free OR Last Will Create This Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Related Legal Services near Pendleton, OR
Breiling Mike
225 SW Emigrant Ave
Pendleton, OR 97801
(541) 278-9625
Attorneys, Legal Service Plans
Rise Inc
704 SW Runnion Ave
Pendleton, OR 97801
(541) 276-9592
Bankruptcy Law Attorneys
Burford Christopher
17 SW Frazer Ave # 340
Pendleton, OR 97801
(541) 612-8501
General Practice Attorneys, Attorneys, Legal Service Plans
Burns Law Office
1 SW Nye Ave
Pendleton, OR 97801
(541) 278-8110
Attorneys, General Practice Attorneys, Legal Service Plans
Custer Law Office
125 SE Court Ave
Pendleton, OR 97801
(541) 276-7139
General Practice Attorneys, Attorneys
Perkinson William E
17 SW Frazer Ave Suite 246
Pendleton, OR 97801
(541) 215-6759
Sexual Harassment Attorneys, Attorneys, Criminal Law Attorneys, Juvenile Law Attorneys, Federal Law
Dean Gushwa Law Office
412 SE Dorion Ave
Pendleton, OR 97801
(541) 215-6758
Civil Litigation & Trial Law Attorneys,  Attorneys,  Criminal Law Attorneys,  DUI & DWI Attorneys
Bettis Wade
226 SE Byers Ave
Pendleton, OR 97801
(541) 276-6660
Attorneys
Rise Inc
1035 SW Marshall Ave
Pendleton, OR 97801
(541) 276-6503
Bankruptcy Law Attorneys
Ransom, Gilbertson, Martin & Ratliff, L.L.P
17 SW Frazer Ave Suite 304
Pendleton, OR 97801
(541) 612-4814
Accident & Property Damage Attorneys,  Attorneys,  Social Security & Disability Law Attorneys,  Fede
Hallman & Dretke
104 SE 5th St
Pendleton, OR 97801
(541) 276-3857
Attorneys,  Criminal Law Attorneys,  Accident & Property Damage Attorneys,  Civil Litigation & Trial
Sullivan Patricia
222 SE Dorion Ave
Pendleton, OR 97801
(541) 276-3331
Attorneys
Hojem Douglas E
222 SE Dorion Ave
Pendleton, OR 97801
(541) 276-3331
Attorneys, Legal Service Plans
Dallas Karin E
222 SE Dorion Ave
Pendleton, OR 97801
(541) 276-3331
Attorneys, Legal Service Plans
Gregg Patrick M
222 SE Dorion Ave
Pendleton, OR 97801
(541) 276-3331
Attorneys, Legal Service Plans
O'Rourke Timothy P
222 SE Dorion Ave
Pendleton, OR 97801
(541) 276-3331
Attorneys, Legal Service Plans
Blanc David M
222 SE Dorion Ave
Pendleton, OR 97801
(541) 276-3331
Attorneys, General Practice Attorneys, Legal Service Plans
Currin Jennifer
222 SE Dorion Ave
Pendleton, OR 97801
(541) 276-3331
Attorneys, Legal Service Plans
Collins & Collins LLP
326 SE 2nd St
Pendleton, OR 97801
(541) 276-3320
Attorneys, Probate Law Attorneys, Family Law Attorneys
Hill Law Office
310 SE 2nd St Suite 200
Pendleton, OR 97801
(541) 276-2911
Insurance Attorneys,  Attorneys,  Accident & Property Damage Attorneys,  Personal Injury Law Attorne
Mautz & O'hanlon LLP
101 SE Byers Ave
Pendleton, OR 97801
(541) 276-2811
Attorneys, Legal Service Plans
Robert Klahn Attorney's At Law
125 SE Court Ave Suite 5
Pendleton, OR 97801
(541) 276-2560
Attorneys, Criminal Law Attorneys, Legal Service Plans
Hantke Seth
334 SE 2nd St
Pendleton, OR 97801
(541) 276-1851
Attorneys
Rise Inc
841 SW 6th St
Pendleton, OR 97801
(541) 276-0884
Bankruptcy Law Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US