The “fiscal cliff” deal signed by President Obama on January 2, 2013 includes an extension of the Mortgage Debt Forgiveness Act of 2007. Debt forgiven as a result of a short sale or mortgage modification is ordinarily considered taxable income. Short sales made up 22% of all residential sales in the third quarter of 2012. Without such debt forgiveness, the current housing market recovery would be less likely. Homeowners considering a short sale or mortgage modification should be aware that the extension expires January 1, 2014 and there are no guarantees that the Act will be extended again. Read More...
A number of us have received green envelopes in our mailboxes from “Corporate Records Service” warning the recipient about the annual minute requirement and providing a form for the minutes to be completed. The form requests payment of $125. While corporations must keep annual minutes, they are not filed with the state, so there is no filing fee to be paid. Below is a link to the Corporation Division’s notice about the scam. This notice should be disregarded. Read More...
Family law clients considering a divorce often ask if there is any
benefit to being the first to file a petition for dissolution.
Depending on the circumstances, there may be some strategic advantages: Read More...
Unlike many other states, purely handwritten, or holographic, wills
will not be recognized by Oregon courts as valid unless they are signed
and witnessed with certain formalities. For a will to be valid in Oregon
it should be signed and dated by the person making the will, or the
testator, at the end of the will. The testator’s signature must be
attested by at least two witnesses, who must see the testator actually
sign the will in order to sign as witness. The testator’s signature need
not be notarized, but it is very helpful to have the witnesses also
sign a notarized affidavit at the time they sign as witnesses. This
affidavit is necessary to admit the will to a probate court as proof
that the witness’ signatures were valid. Without this affidavit, it will
be necessary to obtain such an affidavit before the will is admitted to
probate, and it can be difficult to find the witnesses if the will is
not admitted to probate until many years after it was signed. Read More...
Family law clients often contact our firm to assist them in seeking a
legal separation from their spouses, believing that a separation is a
better option than a divorce. While it may be a good option for certain
clients, a legal separation is generally just as expensive as a divorce,
and may not offer the kind of protection that a client is seeking. For
that reason, it is important for clients to consider exactly what they
are trying to accomplish, and how best to achieve that. Read More...
The May 2012 Primary Election results are in, and it’s BAGLEY vs. BALYEAT in the November general election for Deschutes County Circuit Court Judge. Read More...
Family law clients often ask how quickly their divorces can be
finalized. In Oregon, parties seeking a divorce have generally had to
wait for 90 days after filing for a final trial or hearing on the merits
of a dissolution of marriage proceeding. In 2011, however, the Oregon
Legislature approved House Bill 2686, which makes dissolution
proceedings subject to the same 30-day period as any other civil case. Read More...
Here are answers to some common questions that we regularly receive about charitable giving: Read More...
The Federal Government’s TARP program has provided the State of
Oregon almost $100 million to fund the Hardest Hit Fund which is
intended to assist homeowners and avoid foreclosures. The Oregon Housing
and Community Services agency administers the Hardest Hit Fund
programs. Read More...
I am often asked how to protect the rights of elderly persons in
Oregon. In addition to having the same rights as other people, Oregon
law provides that elderly persons have some additional protections. Read More...