The Oregon DMV has fairly straight forward processes in place for inheriting a vehicle. There are four possible processes:
1. Title has Multiple Owners with Survivorship.
2. Title without Survivorship and Estate is not going to be Probated.
3. Title without Survivorship and Estate is currently being Probated.
4. Title without Survivorship and Estate has been Probated, but is now closed.
For details on these processes, the DMV has a document with links to additional help and forms. The document is here: https://www.oregon.gov/ODOT/DMV/docs/vehicle/inherit.pdf.
Call us for help with your estate planning or probate questions and needs.
A person with a temporary disability due to an accident or injury is protected by Section 804(f)(3)(A) of the Fair Housing Act. The general rules are:
A Landlord must make reasonable accommodations for disabled persons.
Reasonable Accommodation means: A housing provider must make reasonable accommodations in rules, policies, practices or services, when such accommodations may be necessary to afford a person with a disability equal opportunity to use and enjoy a dwelling. In order to get a change in a rule, policy, practice or service, the tenant must request it.
A housing provider must permit, at the expense of the person with a disability, reasonable modifications of existing premises occupied by such person, if the modifications are necessary to allow the person full enjoyment of the premises.
There are other caveats to the general rules referenced above.
Now that the economy has hit a certain level of stability, it may be time for baby boomers to revisit selling their companies. At the end of 2012 and with a strong surge in 2013, we saw a rush of baby boomers put their companies up for sale. The general sentiment heard from the baby boomers was that they did not want to go through an economic down turn again while at the helm of a company, especially since they were actively contemplating retirement.
Buyers were also beginning to feel confidence in the improving economy and they were willing to loosen the purse strings a little to accommodate those that wanted to sell, but buyers still wanted fire sale deals.
Two years later we look back and see that 2014 was another great year for selling a company and multiples paid for those companies sold have continued to increase. The year 2015 started even stronger than the year previous for mergers and acquisitions.
One factor that makes this an opportune time for buyers is that interest rates remain low. We have had these low rates for unusual number of years and there are plenty of analysts saying that such low rates can’t continue forever. Many buyers are looking to buy their first company or expand their current business operations while the cost of capital remains low.
Another significant factor driving business sales at the lower end of the market is how the job market continues to lag. Rather than jump from company to company to increase one’s earnings, many are looking at starting a business, buying a franchise, or purchasing an existing business.
All these factors make for a rich market of opportunity for sellers and buyers. If you want to buy or sell a company, let us team up and find the best opportunity for you.
Consumer Price Index, Portland – Second Half 2014
Area prices were up 1.2 percent over the past six months, up 2.3 percent from a year ago
Prices in the Portland Area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), rose 1.2 percent in the second half of 2014, the U.S. Bureau of Labor Statistics reported today.
Regional Commissioner Richard J. Holden noted that the January increase was influenced by higher prices for shelter and food. (Data in this report are not seasonally adjusted. Accordingly, six-month-to-six-month changes may reflect seasonal influences.)
Over the last 12 months, the CPI-U increased 2.3 percent. Energy prices increased 0.9 percent, largely the result of an increase in the price of electricity. The index for all items less food and energy rose 2.2 percent over the year.
IRA accounts are one of the many asset types that one can inherit that are fraught with peril for the unwary. The inheritance and tax rules for IRA accounts are different for those who are the spouse of the decedent and those that are not. Spouses can receive special tax status for inherited IRA account funds.
If you are not the spouse you cannot treat the IRA as your own. The tax rules give several options for how a non-spouse can take distributions from the IRA account. Despite what one may have read on the internet, you do not have to take the IRA as a lump sum distribution when it is inherited. The tax rules allow beneficiaries to spread payments over several years. This is important since IRA funds are not subject to income tax until they are distributed to the beneficiary.
If the person you are inheriting the IRA account from had a basis in that account, that basis will remain with the IRA. Spouses have some flexibility as to how they treat the inherited IRA, but one must tread carefully.
As with all things related to taxes and IRS, the regulatory landscape is subject to change without notice.
Before accepting any distributions from an inherited IRA, you must talk to an experienced tax professional to insure that you maximize your inheritance and don’t find yourself in an ugly tax situation with the IRS.
Are you planning to terminate your lease and move out? There are several things you should do to protect yourself and make your move as stress free as possible.
- Make sure you give the proper notice to your landlord. Review your lease. Can you terminate early? Do you need to give a 30 day notice? A 60 day notice? If you are renting month-to-month, then you must give a 30 day notice. Always give your notice in writing.
- If you mail the notice, tack on at least 3 days to account for mailing. ORS 90.150(3).
- Clean your apartment and take pictures or video of everything. Photograph the good as well as the bad.
- After the apartment is clean and you have moved everything out, perform a walk-through with your landlord.
- Make sure the landlord has your new address.
Once you move out, the landlord has to return your all of your deposit or give you an accounting of your deposit, in writing, within 31 days.
As with all things legal, there are time limits for taking action to enforce your rights. For most matter related to a rental agreement and the Oregon Residential Landlord Tenant Act, the time limit is one year. However, there may be shorter time limits involved in some cases.
Legal Aid Services
Legal Aid Services of Oregon has published a guide book titled Landlord Tenant Law in Oregon. The electronic copy of this document can be found here.
Print copies are often available at Oregon Legal Aid offices.
Go here for office locations:
Legal Aid Services of Oregon
Please call to confirm that they have copies available.
Oregon State Bar
The Oregon State Bar website has a resource page at:
Area prices up 1.3 percent over the past six months, up 3.1 percent from a year ago
Prices in the greater Portland area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), advanced 1.3 percent in the second half of 2011, the U.S. Bureau of Labor Statistics reported today. Regional Commissioner Richard J. Holden noted the latest six-month increase was influenced by higher prices for shelter and food. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)
Over the past 12 months, the CPI-U rose 3.1 percent. Energy prices jumped 16.9 percent, mainly due to an increase in the price of gasoline. The index for all items less food and energy increased 1.8 percent over the year.