Portland, Oregon Estate Planning and Elder Law Attorneys

Law Offices of Nay & Friedenberg

Law Offices of Nay & Friedenberg
River Park Plaza
6500 Southwest Macadam Avenue, Suite 300

Portland, Oregon 97239

Phone(503) 245-0894
Fax (503) 245-1562

Website www.naylaw.com
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Law Firm Overview

The Law Offices of Nay and Friedenberg have been helping Oregon families plan for the protection and distribution of their assets and livelihoods for over 30 years.
The firm's family-centered approach and commitment to quality customer service have brought it lasting relationships among its clientele, one admirably served with Nay and Friedenberg's decades of experience in both estate planning and elder law and in the understanding of the needs and expectations of younger and elder generations alike, understandings that have continued to bring new clients to the firm's doors.

Attorneys Tim Nay and Sam Friedenberg have amassed an exceptional team of estate planning attorneys, each with specific proficiencies that combine to form a truly comprehensive and thorough expertise in the planning and administration of one's assets and wealth. The firm's Portland office takes pride in putting one goal above all others - to serve clients, their children, and their grandchildren in generations to come, a mission ably fulfilled with the personal service and extra effort given by each member of the team. Nay and Friedenberg's ability to handle complex matters like probate, Medicaid planning, and trusts with ease have solidified its reputation throughout the state, and its habit of keeping the estate planning process smooth and with minimal interruption to one's daily activities has brought it the recommendation and thanks of thousands of grateful clients.

Planning for the administration and division of one's life's work may well be the most important decision any of us ever make, and is not one to be taken lightly or with half-measures. The Law Offices of Nay and Friedenberg have given the whole of their experience and resources to providing Oregon residents with the peace of mind and security that can only come from the creation of comprehensive estate plans, a task that has kept each attorney in high demand for over 3 decades.

Year this Office was Established: 1984

Areas of Law


Additional Areas of Law: Special Needs Settlement Planning; Estate & Inheritance Tax Planning; Guardianships; Conservatorships; Special Needs Planning.


Areas of Law Description

The Law Offices of Nay and Friedenberg provides legal services on the following areas of practice:

- Elder Law

Elder Law attorneys plan to ensure that an individualís assets are sufficient to provide for the individual and their healthy family members over the remainder of their lives. This goal includes planning that will allow the individual to qualify for various public and private benefits. The planning process provides solutions for families during what is generally a difficult time.

- Estate Planning

Estate Planning means more than simply preparing a last Will and Testament. In its broad sense, the term estate planning entails more than providing for the disposition of your assets upon your death with a minimum amount of taxation. Comprehensive estate planning, of course, provides for that.

- Medicaid

A joint state and federal program that is part of the Social Security Act is called Medicaid. This is a program that provides for the vast majority of our nationís a medical and a long term care needs. Our attorneys are also very skilled in working with Medicaid to help plan for long-term care needs.

- Estate & Inheritance Tax Planning

There are two things in life that are certain, it is death and taxes. And the individuals and families we meet certainly fit that bill because theyíre faced with more taxes than they ever expected. As estate and inheritance tax planning attorneys in Portland, we work with our clients so they can eliminate or significantly reduce or postpone unnecessary taxes.

- Probate

Probate is a court process. The court supervised transfer of property from a deceased person or decedent to his or her heirs and beneficiaries. If the decedent had a will, the will specifies who receives the decedentís estate. If the decedent did not have a will, state law defines who inherits the estate. It is important that you work with an experienced attorney.

- Living Trusts

A Living Trust is an agreement between you , the Trustor, and an individual or entity, the Trustee. This agreement is made while you are physically and mentally capable and it determines how assets placed in the Trust will be managed and distributed. Trusts are an absolute necessity for those with significant assets or for those that own privately held businesses.



Lawyers

Darin Dooley Mr. Darin Dooley
Attorney
Elder Law, Estate and Trust, Estate Planning, Inheritance Law, Personal Property

Sam Friedenberg Mr. Sam Friedenberg
Attorney
Elder Law, Estate and Trust, Estate Planning, Inheritance Law, Personal Property

Tim Nay Mr. Tim Nay
Attorney
Elder Law, Estate and Trust, Estate Planning, Inheritance Law, Personal Property

Garvin Reiter Mr. Garvin Reiter
Attorney
Elder Law, Estate and Trust, Estate Planning, Inheritance Law, Personal Property


More Information on Law Offices of Nay & Friedenberg

Elder Law Lawyers in Portland, Oregon
Portland, Oregon Medicaid Law Firm
Estate Planning Attorneys in Portland, OR
Portland, OR Special Needs Planning Lawyers
Estate Attorneys in Portland, Oregon
Portland, Oregon Probate Law Firm
Guardianship Attorneys in Portland, OR
Law Offices of Nay & Friedenberg Blog
Law Offices of Nay & Friedenberg News and Publications

Articles Published by Law Offices of Nay & Friedenberg

 When is a Guardianship Needed?

Many times, people come to our office seeking guidance about how to handle a family member whose erratic or eccentric behavior is causing concern.

Read Article

 What is the Difference Between a Will and a Trust?

Both a will and a trust distribute your money and possessions after your death. A trust is a will substitute.

Read Article

 Do I Have to Spend All My Assets to Qualify for Medicaid?

So, letís say this hypothetical couple with $100,000 can see down the road that the need for long term care is coming. Maybe one of them has Parkinsonís disease or Alzheimerís. If they give away $50,000 to their kids, how does Medicaid look at that?

Read Article

Videos Provided by Law Offices of Nay & Friedenberg

How Can I Avoid Probate with a Living Trust.

A lot of clients will ask me ďWhat do I need to do to avoid Probate?Ē and certainly the best tool that we have for probate avoidance is something called a living trust. It is a very common Estate Planning tool. Most of the time we would be talking about something called a revocable living trust which means that you can make changes to it if you want and for all intents and purposes the trust is considered your money and property because you are establishing the trust and you are acting as your own Trustee.

The original idea of a trust is you separate the ownership of an asset and the management of an asset. If you are setting up a trust for your grandchildren who are minor kids then that is how it is going to be. Your grandchildren will be the owner of the assets and a responsible adult will be the trustee and will be in charge of those assets for the benefit of your grandchild. But if it is your trust we are talking about, and here we are talking about revocable living trusts, you are going to establish a trust with your own money and property and you are going to be trustee.

A lot of times it is going to be a husband and wife. For example, Mr. and Mrs. Jones will establish the Jones Trust and Mr. and Mrs. Jones will be the trustees. What you are doing in that example is taking your money and property and converting it to a new legal form where you are still entirely in charge of those assets and the management of those assets. Why are you doing this? Well, because when you pass away the trust continues to give authority to your child or whoever it is you want to manage your affairs when you are gone so that person can transfer your money and property to the people you specify without having to go through this court process called probate.

Probate is the same idea where your money and property goes to the people you specify in your will but the difference is, in order to get there, you have to go through this court process. It is going to take a long time and cost a lot of money because it is driven by attorneys and youíre in the court system. The basic idea is you can have a will that has a set of instructions about who gets what when you pass away. If you do a trust, it will have the exact same instructions. You can put exactly what you are going to put in your will, into your trust. The difference is, how do you get it there? If you are using a trust, your trustee is authorized to carry out those instructions immediately at death. The Trustee isnít going to have to hire an attorney to go through this whole court process. It is a good idea to have a lawyer involved but you are not in the court system. The trust itself gives legal authority to your Trustee to carry out your instructions. If youíve got a will, it doesnít work like that. Your representative is not going to be able to carry out your instructions immediately when you pass away like you will be able to do with a trust.

What can I do if a loved one needs help but refuses assistance?

A question I get from a lot of clients is ďIím concerned about my loved one, (maybe mom or dad), but they are refusing assistance and claiming they donít need any help. What can I do?Ē I think the first answer is to always start with non-legal answers. There are legal remedies but I think it is best to start with more practical solutions.

Maybe you can arrange for in-home care for mom and dad. Maybe you can assist them with bill paying where you just help them write out the checks and they actually sign the checks and put them in the envelope. Set up a structure that can help them maximize their independence.

But if those measures fail, it may be time to consult with professionals like doctors, social workers and even a lawyer to talk about the possibility of a Guardianship. A Guardianship is where the court takes away an individualís decision making rights and gives them to someone else, the Guardian. And then the Guardian would have the authority to make decisions, for example, about where this individual lives and what happens with their money. And that is kind of the answer of last resort but it may reach a point where their behavior is putting themselves in physical or financial danger.

What do I need for basic Estate Planning?

A lot of times I see young couples with kids and they don't really have an idea of what they are supposed to do but they come in knowing they need to get their affairs in order. What we talk about are kind of the basics, the basic estate plan is going to be Wills for both of them, they also need Powers of Attorney and Health Directives.

A Will is a set of instructions about how money and property is to be distributed when you pass away. Typically with young couples what we are talking about is what happens when the second one of them passes away. Because typically they are going to want to set up their estate so that when the first parent passes away, they don't really have to do anything. Unless it is a larger estate, meaning over $1 million in assets, where you have to worry about inheritance taxes. If we are not talking about that, it should be pretty well set up so that when one parent passes away everything is basically owned by the surviving parent and the will wouldn't have to be used at that point. But at the second death, the will needs to have a trust set up for the children that will be in affect until a designated age and typically we are going to recommend that age to be 25. The parents need to designate somebody as a trustee for their minor children or young adults to handle their money or property in the event that both parents pass away until that designated age. The parents are also going to have to designate someone to have custody of the child if they both pass away. If one parent dies that is not an issue because the surviving parent will have custody and won't need a court order in order to obtain that.

Powers of Attorney are documents that give each other the authority to manage financial and legal decisions on behalf of an incapacitated spouse. Just because you are married does not really give you legal decision making when it comes to handling assets. Now, if you own your assets together, like you have both names on a checking account and one of you becomes incapacitated, the healthy spouse will be able to handle that type of an asset because the healthy spouse is an owner of that asset. But you still need a Power of Attorney because for example if you have an incapacitated spouse and you both own the house, you can't sell the house or get a mortgage on the house unless both spouses sign. And that is what a power of attorney does. It allows you to sign for an incapacitated person who can't sign because of incapacity. It is very important to have good Powers of Attorney in place even though you are married because marriage doesn't really give you legal signing authority.

And the last thing is a Health Directive. In Oregon we use a document call an Advance Directive for Health Care. It is going to appoint a spouse as a health care representative to make medical decisions in the event that you can't do that anymore because of incapacity. It is also going to specify your desires for end of life care. So if you are in a coma or final stages of an illness do you want to be allowed to die naturally or do you want to be hooked up to tube feeding or other life sustaining technology. In both of these documents, the Power of Attorney and Advance Directive, you are going to want to name a contingent person to serve in the event that your spouse dies before you or is unable to serve. So it is not enough just to name your spouse, you are going to want to have another person and preferably two, to act in the event that your spouse isn't there for you.




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