We are pleased to announce that Karen Hart has joined our practice as our Fiduciary Services Administrator. Given her history as one of Portland’s preeminent fiduciary accountants, Karen brings immediate and obvious professional skills to our fiduciary tax practice. She will also assist with our trusts and estates practice by reviewing and finalizing tax returns and accountings. Read More
We have seen an increasing number of situations where a decedent had designated beneficiaries of a bank or investment account, apparently to “avoid probate” and in some cases (according to family members) to avoid the claims of his or her creditors after death. Although beneficiary designations are necessary for IRAs, retirement accounts and life insurance, they are not necessary and are often undesirable for other accounts.