Healy & McCann, PC

September 2019 Archives

Younger people choosing prenups more frequently

When younger people in Oregon decide to marry, they are more likely to opt for a prenuptial agreement before tying the knot. One survey of matrimonial lawyers found that over 60% had seen a growing number of clients seeking assistance in drafting or negotiating a prenup. Once considered to be the domain of celebrities or the ultra-wealthy, prenuptial agreements can be helpful to people from a wide range of financial backgrounds who want to protect themselves even as they plan for a future together. In the first place, many millennials are marrying later in life. As a result, they may already have solid careers and investment funds before marrying.

Planning your estate when you don't have children

If you don't have children and you don't intend to have children in the future, it's particularly important to plan your estate. This is because if you do not create an estate plan, your estate may be distributed to unintended beneficiaries. Potentially, your estate could be inherited by distant relatives that you do not even know.

A comparison of wills and trusts

It isn't uncommon for Oregon residents to have both a will and a trust as part of their estate plan. Typically, the majority of assets will be controlled by either a will or a trust. By putting assets in a trust, it may be possible for an estate to avoid going through probate. This can be beneficial for those who want to protect their privacy or minimize the chances of someone challenging some or all of an estate plan.

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