The term “Living Will” generally is used to refer to Oregon’s health care power of attorney called the Advance Directive. Avoiding probate can help a modest estate preserve its value for beneficiaries. A conservatorship is also a costly and burdensome process that can be avoided with a revocable living trust. Without a Trust, the courts may need to intervene to appoint an individual to manage your property through a conservatorship. The trust will describe who may step in as trustee in case the grantors of the trust become incapacitated. It can also reduce taxes on your estate upon death. A well-prepared and maintained trust will bypass the delay and expense of probate. Many people are not interested in having their estate settled by the probate courts under the directions of a will. Trusts are a very common and efficient estate planning tool. Living TrustĬan a revocable living trust help avoid probate? A will is simply a written set of instructions to the probate court that describes your wishes regarding the management and distribution of your estate.
Failure to strictly adhere to Oregon’s legal formalities will invalidate your will. The will has to be signed in the presence of the two witnesses, and the witnesses’ signatures must be notarized. In Oregon, your will must be in writing and must be signed by you and two witnesses. A will’s instructions are limited to those assets and matters under the jurisdiction of the probate court. Our practice focuses exclusively on wills, trusts, probate, guardianships, and conservatorships.Ī will or “ Last Will and Testament” is a set of written instructions to the court that details how your estate will be handled, including who will step into your shoes to manage your affairs on your passing, and who will receive an inheritance from your estate. The Search For A Will and Trust Attorney Near Me Is OverĬollier Law near Keizer is experienced in all aspects of wills and testaments.
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