Early reports tell us that the late musician Prince died without a will. Therefore, Minnesota “intestacy” statutes (i.e. statutes govern estates of decedents dying without a will) are going to control the administration of Prince’s estate. In a legal petition filed on April 26, 2016, by Prince’s sister, Tyka Nelson, Ms. Nelson stated that she did not know of the existence of a will signed by Prince. Because of this, no person currently has the legal right to act on behalf of his estate.
On October 5, 2015, Oregon Senate Bill 777D became effective. In this bill, Oregon implemented the federal ABLE (Achieving a Better Life Experience) Act. This legislation gives families use of a tax-deferred savings plan, similar to the 529 college-savings plan, to save for individuals with disabilities. These plans would have the tax benefits of 529 […]
From time to time, we will publish blurbs on recent local court opinions and state legislation: Oregon Senate Bill 371 Senate Bill 371 contains multiple, somewhat unrelated, amendments to ORS 130, which relates to trusts. The first significant amendment adds modification of the terms of a trust (including extending or reducing the period the trust […]