FAQ
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What is probate?
Probate is the legal process of validating a will, identifying assets, paying debts and taxes, and distributing the remaining property to beneficiaries. In Oregon, probate can last any where from six months to several years, depending on the complexity of the estate. The process ensures that the deceased person’s wishes are carried out under court supervision. An experienced probate attorney can help you navigate this complex process.
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How is a trust administered?
Trust administration involves the trustee managing and distributing trust assets according to the terms of the trust document. Many trusts, such as revocable living trusts, can help avoid probate for assets held in the trust, this can allow for a faster and more private transfer to beneficiaries. However, assets outside the trust may still need to go through probate. Working with an experienced estate administration or trust administration attorney can help you determine which process you are dealing with and how to navigate it.
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Do I need an estate plan?
Yes. Estate planning isn’t just for the wealthy—it’s for anyone who wants to make their wishes known and make things easier for their loved ones. Even a simple plan can help ensure your property goes where you intend, appoint someone to make financial or medical decisions if you can’t, and name guardians for your children. An experienced estate planning attorney can help you create a unique and customized plan that meets your goals.
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When should I update my estate plan?
It’s a good idea to review your estate plan every few years and whenever you experience a major life change—such as marriage, divorce, the birth of a child, death, or a significant change in assets. Regular updates help keep your plan current and ensure that it continues to reflect your wishes. As life changes, often so do our goals. An experienced estate planning attorney can help you review your plan to meet each goal, especially as life changes.
