Estate Tax

4 Estate Planning Issues Other Than Estate Taxes

Most everyone I meet with is at some level concerned about estate taxes; or as many call them "Death Taxes." People I meet with will often say something like, "I don't want Uncle Sam taking everything I've worked a lifetime to save." More on that in a bit.

4 Important Issues To Consider When Making Your Estate Plan


  1. Making it simple for your family - Losing a loved one is hard, having to deal with courts and disorganization to settle their affairs just makes it worse. Sometimes even when there is a plan, that plan won't make settling their affairs easy. I wrote an article just the other day about a "Simple Will" gone bad. Estate plans are often for the one we leave behind.
  2. Protecting your minor children - You must nominate guardians the right way. You must also make sure there are funds available for your children's needs.
  3. Protecting your children's inheritance from creditors and predators - How you leave an inheritance to your children really matters. If you leave an inheritance to minor children outright, a court will appoint a conservator to manage their money for them. Leave money meant for your children to a friend is a common idea. However, there is no guarantee they will follow your wishes. We have solutions that keep the courts out of the process. You can even protect your children's inheritance from their creditors, divorce, and predators.
  4. Making sure you are protected in the case of your incapacity - Incapacity planning is perhaps more important than planning for death. You need to make sure your healthcare wishes are known, and that there are people with the power to carry out your wishes.

Back To Estate Taxes As Promised

The good news, over 95% of families in the United States are not currently subject to the Federal Estate Tax. The 2016 Federal Estate Tax Exemption is $5.45 million for individuals and $10.9 million for married couples.

Now for the not so good news, we live in Oregon. The Oregon Estate Tax Exemption is currently $1 million for an individual. We have solutions available to take full advantage of the Oregon exemption; limiting the estate tax paid to Oregon.

If you'd like to know more about this type of estate planning, call 503-850-8345 to start a conversation about the options available to you. 

About the Author Donald Rolfe

Father, husband, entrepreneur, and owner of a trivia filled brain. I help families and individuals plan for the unexpected and end of life. Schedule a Complimentary Strategy Session to chat with me, get answers to your questions, and find out about your Estate Plan options.

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