Whether you’re planning the parameters of your future medical care or establishing support for loved ones upon your death, PDX Law Group can help with all aspects of trusts and estates issues.
If you die without a will, Oregon’s laws will determine how your assets are distributed, and it may not be the way you wanted. A will allows you to provide instructions for how your property is managed upon your death. Depending on your situation, your will can be simple and straightforward or complex.
A will allows you to provide instructions for how your property will be distributed to your beneficiaries and heirs after your death. You can also use it to appoint guardians for minor children and designate an executor (also called a personal representative) to manage your estate upon your death.
Before your property is distributed to beneficiaries, your estate must pass through a court-supervised process called probate. The process ensures that your will is valid and that all your financial obligations are taken care of before the distribution of your property.
Power of Attorney/Advanced Directives
A power of attorney is a person appointed to act on your behalf. The power they are given can be either permanent or temporary, and they must act according to the instructions in the document. The benefit of having a power of attorney is that they can make decisions for you should you become unable to do so yourself. Absent an appointed power of attorney, if you become mentally disabled or incapacitated, the court would appoint someone to make decisions about your affairs.
An advanced directive is a legal document that gives a person the authority to make health care decisions on your behalf. The directive takes effect in the event that you become incapacitated and unable to communicate your wishes.
Revocable Living Trust
A revocable living trust ensures full control over property as though it is your own, and upon incapacity or death it allows for a seamless transition of power over your property or business. Most of the time, a properly executed will with a right of survivorship is sufficient for most clients but if you own property in multiple states or own a business that would need to be transferred quickly a living will could be very advantageous. Please reach out to us to schedule a free 30-minute consultation to see if a Living Trust makes sense for your situation.
PDX Law Group can help you through the probate process. If you have been appointed a personal representative or are a beneficiary of a will, we can help you understand what’s entailed and what your rights and responsibilities are.