When the time comes to plan your estate, you want to make certain that your estate plan protects your assets and provides for your family. That means that your estate plan must be personalized. It must be crafted specifically for you, with the help of an experienced estate planning lawyer in Springfield, Oregon.

Every client who comes to the offices of Leahy Cox, LLP, is unique. For that reason, we begin the estate planning process by asking questions and gathering information. What assets do you possess and which are most important to protect? Who do you want to benefit from your estate? Do members of your family have special needs, or are there other special circumstances that need to be taken into consideration?

When we have reviewed your situation, we will make a recommendation. We will suggest an estate plan that incorporates the tools that are most appropriate for meeting your needs. We will explain the strategy, and then we will put it into action.

Estate Planning Tools

Our attorneys create estate plans that include the following tools:

People frequently believe that a will is sufficient to meet their needs. This is rarely the case. We believe that an estate plan should not only provide asset protection in the event of death, but it should also provide direction to family members in the event of incapacity. We will educate you about all available options and make certain you get the protection you need.

Estate Taxes

A major concern for many people is the threat of taxes eroding the estate. After reviewing your situation, we will let you know if this is a potential issue. If it is, we will recommend the estate planning options most effective for minimizing the impact of estate taxes.

Frequently Asked Questions About Estate Planning In Oregon

Estate planning can be intimidating to a lot of people. The more you understand about how estate plans work and their value, the better. Here are the answers to some common questions our clients have:

How often should I review or update my estate plan?

Generally speaking, you should review your estate plan every three years, at a minimum – although it does not hurt to do an annual review. Some people make it part of their New Year’s routine. You should also update your estate plan with every major life event, such as when you marry, divorce, or a new child is born into the family or when you have a significant change in your financial situation.

What steps should I take to choose an executor or trustee?

You need to choose someone that you trust implicitly to be the executor of your estate or the trustee in charge of any trusts you leave behind. You also need to make sure that the person you choose is well-organized, thoughtful, financially savvy, capable of recognizing their limitations, and willing to reach out for the necessary assistance.

How does a will differ from a trust, and which is right for me?

A will and a trust can both be used in estate plans, but they have different purposes and handle assets in different ways. A will only takes effect after you die and directs how your assets will ultimately be distributed. It can also be used to nominate guardians for our minor children. Wills must also go through the probate process.

In comparison, a trust can be used to transfer assets before, during or after your death – and can be used to protect assets from creditors, legal disputes and even irresponsible use by your beneficiaries. Trusts also avoid probate.

When used together properly, wills and trusts can be used to create a highly effective estate plan.

What happens if I pass away without an estate plan in Oregon?

If you die “intestate,” without any estate plan, the state will take control of your assets, appoint a personal representative to oversee your estate and distribute the remainder according to state law – which may not remotely resemble your intentions. In addition, the probate process can be extended, and that can cause significant distress and financial hardship for your heirs.

Contact Our Eugene Trust Lawyers

Call us at 541-746-9621 or providing the information below to discuss scheduling an initial consultation.

Estate Planning

When the time comes to plan your estate, you want to make certain that your estate plan protects your assets and provides for your family. That means that your estate plan must be personalized. It must be crafted specifically for you, with the help of an experienced estate planning lawyer in Springfield, Oregon.

Every client who comes to the offices of Leahy Cox, LLP, is unique. For that reason, we begin the estate planning process by asking questions and gathering information. What assets do you possess and which are most important to protect? Who do you want to benefit from your estate? Do members of your family have special needs, or are there other special circumstances that need to be taken into consideration?

When we have reviewed your situation, we will make a recommendation. We will suggest an estate plan that incorporates the tools that are most appropriate for meeting your needs. We will explain the strategy, and then we will put it into action.

Estate Planning Tools

Our attorneys create estate plans that include the following tools:

People frequently believe that a will is sufficient to meet their needs. This is rarely the case. We believe that an estate plan should not only provide asset protection in the event of death, but it should also provide direction to family members in the event of incapacity. We will educate you about all available options and make certain you get the protection you need.

Estate Taxes

A major concern for many people is the threat of taxes eroding the estate. After reviewing your situation, we will let you know if this is a potential issue. If it is, we will recommend the estate planning options most effective for minimizing the impact of estate taxes.

Frequently Asked Questions About Estate Planning In Oregon

Estate planning can be intimidating to a lot of people. The more you understand about how estate plans work and their value, the better. Here are the answers to some common questions our clients have:

How often should I review or update my estate plan?

Generally speaking, you should review your estate plan every three years, at a minimum – although it does not hurt to do an annual review. Some people make it part of their New Year’s routine. You should also update your estate plan with every major life event, such as when you marry, divorce, or a new child is born into the family or when you have a significant change in your financial situation.

What steps should I take to choose an executor or trustee?

You need to choose someone that you trust implicitly to be the executor of your estate or the trustee in charge of any trusts you leave behind. You also need to make sure that the person you choose is well-organized, thoughtful, financially savvy, capable of recognizing their limitations, and willing to reach out for the necessary assistance.

How does a will differ from a trust, and which is right for me?

A will and a trust can both be used in estate plans, but they have different purposes and handle assets in different ways. A will only takes effect after you die and directs how your assets will ultimately be distributed. It can also be used to nominate guardians for our minor children. Wills must also go through the probate process.

In comparison, a trust can be used to transfer assets before, during or after your death – and can be used to protect assets from creditors, legal disputes and even irresponsible use by your beneficiaries. Trusts also avoid probate.

When used together properly, wills and trusts can be used to create a highly effective estate plan.

What happens if I pass away without an estate plan in Oregon?

If you die “intestate,” without any estate plan, the state will take control of your assets, appoint a personal representative to oversee your estate and distribute the remainder according to state law – which may not remotely resemble your intentions. In addition, the probate process can be extended, and that can cause significant distress and financial hardship for your heirs.

Contact Our Eugene Trust Lawyers

Call us at 541-746-9621 or providing the information below to discuss scheduling an initial consultation.