Power of Attorney
Power of attorney is granted to an “attorney-in-fact” or “agent” to give that individual the legal authority to make decisions for an incapacitated “principal.” Incapacity can be permanent such as those due to Alzheimer’s or a permanent coma from an injury, but also temporary such as hospitalization due to emergency surgery or injury, especially if they occur while traveling abroad. There are two basic types of power of attorney.
A financial or durable power of attorney can give the power to:
- Pay your bills and avoid fees or interest
- Collect mail
- Make financial decisions
- Access accounts or safe deposit boxes
- Make gifts of money
- Recommend a guardian
- and more.
- Contact an experienced estate planning attorney in Bend, Oregon to learn more about powers of attorney.
A health care power of attorney (part of the Advance Directive) gives power to:
- Make health care decisions
- Consent to giving, withholding, or stopping medical treatments, services, or diagnostic procedures.
See (link) for more details on health care decisions.
- Contact an experienced estate planning attorney in Bend & Redmond, Oregon to learn more about advance directives and health care planning.
Health Care Decisions:
An Oregon Advance Directive the necessary document when appointing someone to make end of life decisions for you. But what if an ambulance arrives at your door? They will give you whatever treatment they want unless you have a DNR or “do not resuscitate” form which can be found on a POLST form.
If you are interested in donating organs or your body to science, extra planning and paperwork needs to be done to make it happen.
Mr. Matrisciano can help your wishes be honored when you are unable to communicate them to health professionals.
Probate:
Matthew Matrisciano is an experienced probate attorney in Bend, Oregon.
Did you know that a will does not prevent the need for probate? Dealing with the death of a loved one is emotionally challenging, and probate can be a long and frustrating court process. I provide probate and estate administration services to make the legal side of that transition as smooth as possible.
Most estates go through the probate process in a smooth manner, but there are MANY requirements that are difficult or impossible to accomplish without the assistance of an experienced attorney. But if a family member feels that he or she has been wronged, it is important to have an attorney to address these disputes and disagreements. Contact us today to speak with a probate attorney in Bend, OR. An attorney can help with:
- Meeting statutory deadlines
- Complying with your fiduciary responsibilities as personal representative
- Will contests
- Accounting disputes
- Disagreements over the sale of assets
- Allegations of wrongdoing
- And more.
Contact an experienced probate attorney in Bend & Redmond, Oregon to learn more.
Estate Planning:
Matthew Matrisciano is an experienced estate planning attorney in Bend, Oregon.
My estate planning and legacy planning focus on a holistic approach. What is your unique situation, what suits your needs best, and how can we accomplish your goals? I want each client to be secure knowing that both they and their family will be taken care of exactly as they want in the event of incapacity or death. Communication is key to successful “estate planning” “legacy planning” or even if you simply want to ensure your health care decisions are followed.
I have found that communication with other professionals such as your financial advisor, CPA, and life insurance agent can be helpful in ensuring that you have a cohesive plan that works the way you expect it to.
Everyone is different, but common components of an estate plan can include:
- A revocable living trust
- A will
- A durable power of attorney
- An advance medical directive or health care power of attorney
- HIPPA waivers
- Deed transfers
Advanced estate plans may also include any of the following:
- Retirement or IRA trusts
- Irrevocable life insurance trusts
- Supplemental needs trusts
- Charitable trusts
- Prenuptual Agreements
- LLCs or Family LLCs
Contact an experienced estate planning attorney in Bend & Redmond, Oregon to learn more.
Wills
Matthew Matrisciano is an experienced estate planning attorney, who can help with your will, in Bend, Oregon.
Wills are considered by some as the staple of a simple estate plan, but they can also be useful for complicated estate plans. There are even situations where certain individuals who can have unknown future creditors (such as doctors) will want to probate some of their property to insulate their risk?
Wills can also create what are called testamentary trusts which come into existence when you die. These might be helpful if you only want a trust in certain situations, like if your children are still minors.
If you want an experienced attorney to help you craft a will that is right for you, please call MGM Law Firm.
Trusts
Matthew Matrisciano is an experienced estate and trust attorney in Bend, Oregon.
Trusts are incredible flexible and versatile documents that can be crafted to each unique situation. They can be used to avoid or delay taxes or to make sure taxes are paid so your beneficiaries don’t have to.
They can be revocable or irrevocable. Revocable trusts are basically treated as though they are owned by their creator who can still do anything they want to the property including buy more, sell it, or give it away. Revocable living trusts address three basic scenarios:
- While alive and well: The trust makes clear that while the settlor is alive and well, he or she will serve as trustee and manage trust assets for his or her own benefit.
- If incapacitated: If the settlor becomes ill or injured to the extent that he cannot manage his finances, the trust identifies who will take over as trustee, and directs the successor trustee how to manage trust assets.
- After death: The trust directs the successor trustee how to distribute remaining trust assets after the settlor dies. This can mean the trust continues for years after death to fulfill the settlor’s wishes such as paying for children’s education, paying the kids over time instead of all at once, or separating into different divisions based on each beneficiary’s needs.
Irrevocable trusts can also be created but they generally cannot be changed or terminated by their creator, the trustor. A couple might create an irrevocable supplemental needs trust to take care of their child with disabilities while preserving the child’s qualification for governmental aid. A couple may also decide to create an irrevocable trust because they do not need the assets and want to protect them from creditors and pass them to their children. A person may also want to create a charitable remainder trust so that they can use a property while they are alive but then it passes to charity, removing an asset from their taxable estate and from creditors.
A thorough discussion with an experienced trust and estate attorney is necessary to evaluate whether a trust is right for your situation. Contact an experienced estate planning attorney in Bend & Redmond, Oregon to learn more.
Trust Administration
As an experienced and knowledgeable estate planning attorney in Bend, OR, Matthew Matrisciano can help coordinate all of the difficult and sometimes confusing tasks that arise after death such as:
- dividing trusts into marital and survivor trusts (or sub-trusts),
- preparing and filing disclaimers,
- filing estate tax returns,
- filing income tax returns of the decedents,
- transferring property to heirs, advising about the transfer or rollover of IRAs or other retirement assets
- obtaining life insurance benefits and
- counseling executors and trustees about how to divide personal property between various beneficiaries.
Contact an experienced trust administration attorney in Bend & Redmond, Oregon to learn more.
Long Term Care Planning
While most people don’t like to think about getting older, waiting to plan for elder care can limit your options when it comes to lifestyle, budget and wellbeing. Your need for long-term care could impact the financial viability of your spouse. Or you may wonder whether a parent’s assets will outlast their long-term care needs.
Did you know that over seventy percent (70%) of people will need long term care during their lifetime? The cost of that care can easily reach $10,000 per person per month.
How Will You Afford the Cost of Long Term Care?
- If needed, do you want in-home care or nursing home care?
- Can you afford in-home care?
- Can you afford the nursing home of your choosing?
- Is having a private room important to you?
- How can you save for future care?
- How can you qualify for government benefits such as Medicaid?
- How do you protect your assets for your surviving spouse and family?
The Earlier you Plan, the Better Your Options Are.
Long-term care planning is a complex issue and can be emotionally challenging. Long-term care insurance can be expensive, and policies can be confusing. There are also strict laws associated with Medicaid qualification, including income limits and wealth transfer laws that could exclude you from benefits.
THERE IS A SOLUTION
Call MGM Law Firm for a consultation with a highly qualified and compassionate attorney to assist you in determining your options.