Nobody enjoys thinking about their future death; however, planning for it can make life easier for surviving loved ones. Nevertheless, according to AARP, only 40% of Americans have a will or other form of estate planning document. Unfortunately, that means that inheritance decisions will be left to someone else.
An Oregon wills lawyer can be a beneficial guide throughout the complicated process of creating a valid last will and testament. Bearman Law can craft a will for clients throughout the state of Oregon, including Salem and Lake Oswego.
Although some people prefer to create a will without the assistance of legal counsel, their loved ones may later find that the will was invalid. An experienced estate planning attorney can help you make sure that your will is valid so that your assets are dispersed according to your wishes.
There are several different types of wills depending on the need of the individual.
Simple Will - Straightforward for those with simple estates.
Joint Will - Utilized by two individuals, generally spouses, who want their estate to pass on to the surviving person. Appoints a subsequent beneficiary upon the surviving person’s death.
Pour Over Will - For those with an existing trust who have acquired more assets since the trust was created.
Living Will - This will doesn’t address assets but rather specifies preferences, such as a decision-maker, in the case of incapacitation.
Holographic Will - An unwitnessed document dated and signed by someone in their own handwriting. Not valid in most states.
A person who is bequeathing their possessions needs to have the capacity to do so. This means that they must be adults and understand what they are giving away and to whom. The language of a last will and testament must also demonstrate an intent to gift the property.
Two witnesses are required at the signing of the will. It is generally better to choose witnesses who are not named in the will to inherit the assets, so that there is no appearance of impropriety or coercion.
The attorneys at Bearman Law can help you determine the type of will that best suits your needs. With years of experience and expertise they will compose a valid, comprehensive will that communicates how you would like your assets disbursed.
Having a will can give a person control over who receives their property after they die. It also prevents arguments among relatives during their time of grief.
In Oregon, when someone dies without a valid will they are said to have died intestate. When this happens, the probate court may decide how to divide the assets among the surviving family.
It can be quite complex to navigate the Oregon probate courts which is why composing a valid will will help loved ones avoid this task. Bearman Law has years of experience in the field and can assist clients in Salem, Lake Oswego, and the entire state of Oregon.
A will is different than a trust, in that the latter requires a trustee to manage the funds. However, some people prefer to identify a trust in their will that will begin upon their death and will be funded by inherited assets. This is called a testamentary trust.
As skilled attorneys in estate planning, Bearman Law can present a variety of options to testators. Clients of Bearman Law are treated with the utmost respect and dignity.
The lawyers at Bearman Law are available to address your estate planning needs with the experience and compassion you deserve. Serving Oregon residents, including Lake Oswego, Salem, and the Willamette Valley, Bearman Law puts your family’s well-being first. Their attorneys strive to educate their clients and work vigorously toward their best interest.
Call Bearman Law today to schedule a free consultation. The firm’s lawyers are available to answer your questions and can explain the estate planning process and outline a strategy that meets your needs.