How community property ownership affects your real property

As a team, we are interested in continuing education for our team members. For one of our recent training sessions, we invited Rachael M. Harbison, Attorney at Hurley Re, P.C. to speak with us about the importance of meeting with an estate planner to make sure property ownership is properly designated in a will. We thought our readers might benefit from some of the information as well, so we asked Rachael to write an article we could post.

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Central Oregon, known for its beauty and vast recreational opportunities, has seen significant population growth in the past several years. Many of the families moving to this area come from the neighboring states of California, Idaho, Washington, or Nevada. These states share one thing in common: they all designate marital property as community property. Oregon, on the other hand, is a common-law property state. Preserving community property after moving to Oregon may provide significant tax advantages for spouses. Therefore, it may be advantageous for families moving to this area to consult with an estate planning attorney prior to purchasing property to discuss maintaining their community property status.

How community property ownership affects your real property As a team, we are interested in continuing education for our team members. For one of our recent training sessions, we invited Rachael M. Harbison, Attorney at Hurley Re, P.C. to speak with us about the importance of meeting with an estate planner to make sure property ownership…