What is an estate plan?

Many people consider a Will to be the primary focus of an Estate plan. A Will is an instrument that allocates your possessions to people, charities, or institutions. Living trusts or Living Wills have also become popular in recent years as a way to avoid probate. Probate in Oregon is not as onerous as in other states. Many clients continue to choose a Will for their basic estate plan. All of these different options should be reviewed with each client individually. Some people with larger estates find that trusts which allow the settler to manage assets during their lifetime for the benefit of their beneficiaries offer more peace of mind.

One major issue to consider is who will make decisions for you if you become incapacitated. A Power of Attorney gives another person access to your finances and can allow a spouse, sibling, or trusted friend to pay your bills, deposit and withdraw funds from your bank account, and buy or sell items on your behalf. In addition, a Health Care Directive informs medical personnel and hospitals which person is able to make medical decisions on your behalf if you are not conscious or unable to communicate your wishes.

Our firm can prepare your Will at a competitive rate. The Columbia Pacific Law Firm, LLC also offers a complete Oregon package for your estate plan; Including a Will, Power of Attorney and a free Health Care Directive.