Proper estate planning protects your interests and can make a challenging time easier for your loved ones after your passing. Each situation is unique, and estate planning is not a one-size-fits-all venture. At Johnson and Taylor, our estate planning attorneys in Salem, OR offer quality legal services and advice you can trust. Whether you have a modest estate or significant assets, your estate planning lawyer can ensure that your wishes are carried out after you’re gone.
Why is Estate Planning Important?
When you die without a last will and testament or estate plan in place, your assets will be distributed according to Oregon laws of intestate succession. This means that the probate court decides how your estate will be distributed, and it may not match up with what you would have wanted. Failing to properly plan can also take an emotional and financial toll on your grieving loved ones. Probate can be a long, expensive process. An estate plan can help your family avoid unnecessary conflict and streamline the estate administration process.
In addition, estate planning documents such as powers of attorney and advance directives can ensure your rights and interests are protected if you become incapacitated. This not only safeguards your health and assets but makes a challenging time easier for those you love as well.
How an Estate Planning Attorney in Portland can Help
While it might be tempting to use an online template for a will and call it a day, even a seemingly inconsequential error can put your assets and interests at risk. Our estate planning and probate lawyers are well-versed in drafting wills, trusts, and powers of attorney, and can help you create a plan that meets your specific needs and circumstances.
Navigating Complexities
Estate planning is complex, and navigating ever-changing federal and state laws can be frustrating. Our estate planning attorneys have an in-depth knowledge of the law and keep up with the latest developments, which can ensure your plan is legally sound. A lawyer on our estate planning team can tailor your plan to your specific circumstances and goals. We help you consider factors such as family dynamics, financial assets, and charitable intentions. Developing an effective estate planning strategy can give you peace of mind, knowing that everything will be taken care of after you’re gone.
Asset Management and Tax Considerations
Complex assets such as business interests, multiple properties, and investments can make estate planning even more complicated and challenging. Our experienced estate planning attorneys can advise you on how to best manage and transfer these assets efficiently while minimizing tax implications and ensuring smooth estate administration.
Utilizing Trusts
Our estate planning lawyers may suggest certain types of trusts that help preserve wealth for your beneficiaries and avoid a lengthy, costly, probate process. Trusts allow you to provide for loved ones with special needs and those who may not be financially responsible. Trusts can also enable you to keep the details of your estate private.
Charitable Giving
If philanthropy is important to you, our estate planning lawyers can assist you with integrating charitable giving into your estate plan. Whether through direct bequests, establishing a charitable trust, or other strategies, your attorney can help you maximize the impact of your charitable contributions while also potentially providing tax benefits.
Guardianship of Minor Children
If you have minor children, it’s critical to name guardians for them in the event of your death. Your estate planning attorney can guide you through the process of selecting the right person or people to take care of your children and look out for their best interests. If you pass away without naming a legal guardian for your children, the decision will be left up to the court and may result in them being placed with someone you wouldn’t have chosen.
Planning for Incapacity
Estate planning isn’t just about what happens after you die. It also involves preparing for what will happen in the event of an illness or injury. Our estate planning lawyers can help you create a power of attorney for healthcare, power of attorney for finances, and advance medical directive that specifies your wishes for medical treatment and end-of-life care. They can also help you determine who would be best suited to make decisions for you should you become incapacitated and unable to handle your affairs.
Peace of Mind
If handled improperly, estate planning can sometimes lead to conflict in families. Your estate planning lawyer can facilitate discussions among family members, clarify intentions, and create a plan that minimizes the likelihood of disputes or challenges after your passing. This can help preserve relationships and give everyone involved peace of mind. By having a comprehensive estate plan in place, you can rest assured that your loved ones will be taken care of and your wishes will be carried out according to your desires.
In addition to handling wills, trusts, probate, and estate planning, our team litigates personal injury and divorce and family law matters. Our estate planning attorneys in Salem, OR serve clients in Marion, Polk, and Linn counties and surrounding communities.
Contact Our Estate Planning Lawyers in Salem, Oregon
At Johnson and Taylor, we’re dedicated to helping our clients create effective estate plans tailored to their specific circumstances. Call our office at 503-990-6641 or contact us to schedule a consultation with our estate planning attorneys in Oregon. Members of our team provide quality legal services to our Spanish-speaking clients.