Estate Planning Hillsboro, OR
Jonathan Mishkin, an estate planning attorney, has offices throughout Oregon, in Bend, West Linn, and Portland. With over 22 years of experience, he can work with you to structure your affairs to reduce exposure to the imposition of the estate tax and avoidance of probate.
Mr. Mishkin utilizes revocable and irrevocable trusts, partnerships/LLCs, and charitable entities with the goal of maximizing available income and estate tax benefits to reduce the client's overall tax burden. While doing this, he allows the client to choose the right time to hand over control of assets to the next generation.
While a well-drafted foundational estate plan (i.e., a Will or Revocable Living Trust), does not reduce state taxes, we can maximize privacy and lower the cost of probate.
The Law Office of Jonathan D Mishkin offers these estate planning services:
- Probate and Trust/Estate Litigation
- Elder law and estate planning
- Revocable Living Trusts and Wills
- Guardianship/Conservatorship
- Digital Assets Estate Planning
- Planning for blended families
- Estate planning for same-sex couples
- Business succession planning
- Charitable Planning
- International Estate Planning
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Probate and Trust/Estate Litigation near Hillsboro, OR
A probate proceeding may be necessary in order to deal with the affairs of the deceased following a death. The Will serves as the guideline for probate and outlines the person's wishes.
This is not always an easy process. Beneficiaries might disagree about the asset value or distribution of the assets during the probate and trust administration periods. Because these issues are usually among family members, emotions can be strong and make it even more difficult. It is best to resolve probate and administration issues as early as possible to save time, cost, and in some cases, familial relationships.
Our estate planning firm offers counsel and representation to beneficiaries, trustees, and executors in disputes and litigation.
Elder Law and Estate Planning in Hillsboro, OR
It's crucial to know the wishes of family members as they age and to have these documents in line with the law. Any assets that an elderly client or someone who becomes incapacitated will need to be secured. They may also need medical attention. These two issues require planning around how to fund medical care and what type of trust or conservatorship to use.
We understand the difficulty of planning for long-term health care and the daunting nature of qualifying to Medicaid. We can help you complete and submit your applications, handle any appeals or hearings, and ensure that our clients remain eligible for Medicaid.
Guardianship/Conservatorship Hillsboro, OR
If a person becomes physically or mentally disabled, they may no longer be able to handle their own personal or financial affairs. In such cases the court can make another person the guardian or conservator.
This allows the guardian the power to manage and control the person's custody and physical care. The conservator is responsible for managing financial affairs. We recognize that the appointment or both of these people is an emotional time for everyone involved. We work with you to reach the ultimate goal, which is to secure the person's financial and/or medical needs.
Revocable Living Trusts and Wills Hillsboro, OR
These are two separate documents, and only one is needed to serve as the foundation of an estate plan.
A Will is a document that designates an executor to handle the estate of a deceased client. This then allows for the distribution of assets, the appointment of guardians for minor children, and the direction of funeral arrangements.
A revocable living trust is a contract that outlines the rules the client has for assets to be held in their name. These are especially useful in cases where reaches a certain age or develops a medical condition that mandates assistance with finances. A revocable living Trust will remove the need to probate. It will also allow the person handling the estate to save money while also saving time.
Digital Assets Estate Planning in Hillsboro, OR
Many clients' businesses and personal information are stored electronically thanks to the rapid advances in technology over the past decade. Digital assets include photos, documents, social media histories, as well as digital assets such as photos and documents that you upload online.
Many people overlook these assets. However, they can be very important, both financially and emotionally. To reduce administrative burdens, a digital asset plan will help you manage these digital assets and protect your images and sentimental documents.
Planning for Blended Families Hillsboro, OR
Since divorce is a common outcome in over 50% of marriages, blended families have become much more common recently. The estate planning process can be complicated for blended families when one or both of the remarried spouses has brought in children from previous relationships.
Every family, and every blended family, are different. Both spouses must consider how to divide their estate. It can be divided among their biological children, stepchildren or a combination of them. At J Mishkin Law we understand the intricacies behind such decisions, and help you to consider all of your options to make the best decision for you and your family.
Estate Planning for Same-Sex Couples in Hillsboro, OR
Same-sex marriage has been recognized in Oregon since 2014, but the concept overall is still a relatively new development within the United States. Domestic partners who are not married legally can benefit from the rights of the state but not necessarily at a federal level.
This can lead to complications in estate planning. In some events where one partner dies, the spouse who is left behind may not be entitled to any inheritance if there is no will in place. In such cases, assets will be given to the deceased's family members, which may not be according to the person's wishes. In these instances, and for many other reasons including estate tax, funeral arrangements, and guardianship of any children, an estate plan is essential.
Business Succession Planning near Hillsboro, OR
J Mishkin Law is often contacted by small-business owners. It doesn't really matter how big or small a company is, it's vital to have a plan in order for the business in the event of the owner passing away, becoming disabled, or retiring.
Any sole proprietorship should have a succession plan in case of any such event. This includes choosing a successor, creating a training plan and establishing the process of putting your successor in position if necessary.
You can make a buyout agreement for partnership businesses. This will detail information like who can buy shares and whether or not the partner must be purchased out.
Charitable Planning near Hillsboro, OR
If you regularly give to charity you might want to include charitable planning in your estate plans. Charitable trusts can have significant tax benefits, and at J Mishkin Law we have experience in assisting our clients arrange for all sizes and variations of charitable gifts. You are free to alter the charitable recipient at will and you can also create an income stream that can be used to provide an annuity to a loved one.
A private foundation may be an option for clients with large estates that intend to leave a part of their estate to charity. These are beneficial for clients who want to retain control over their affairs while still receiving favorable income tax charitable deductions.
International Estate Planning Hillsboro, OR
It depends on the laws of the country that executed the will. Our American clients often have assets and beneficiaries around the globe, while other clients might not be US citizens but still have US affairs.
No matter your circumstances, we consider your individual situation and apply a multi-jurisdictional perspective to it. J Miskin Law is familiar with the impacts of international estate plans and the associated taxes, assets, as well as liabilities.
Contact a Hillsboro, OR Estate Planning Attorney Today
An estate plan is essential for wealthy families. If a spouse dies, federal estate taxes can cause a family's wealth to drop by nearly 50 percent. State taxes take even more. It is worse to note that income and estate taxes combined can increase by 75 percent for certain types of wealth such as IRAs and pretax 401(k) plans. Children and other beneficiaries could receive less than half the wealth of their family.
Mr. Mishkin, an estate lawyer, creates plans that take advantage of every tax code nuance and works hard to understand your objectives. Mr. Mishkin will work with you to make the best decisions and provide appropriate recommendations by listening to your needs, goals, and perspectives. You create your own plan that will fully satisfy both you and your family.
He provides generational planning that ensures your family's wealth will be retained for future generations. Own a business? He will ensure that your business is profitable and continues to be a source of income for your family, shareholders as well employees and customers.
It is hard enough to lose a loved ones without an estate planning lawyer. Mr. Mishkin is available to help you whenever and wherever you need him. He can provide post-mortem planning as well as documents according to deadlines. Mishkin respects the past and prepares for the future through reliable, efficient estate administration.
Your Nearest Office
4380 S Macadam Ave
Suite 190
Portland, OR 97239
Have Estate Planning Questions? Contact Us
Need estate planning information?
Get your Estate Planning FREE PDF download which teaches you
5 important reasons you need an estate plan.
Click on the download link below.