Oregon Living Trust Attorney

How would a living trust benefit an Oregon resident like yourself? The advantages might surprise you. The knowledge we share with you will hopefully have you seeking the advice of an Oregon living trust attorney.

One of your first considerations will be the value of your estate. One of the more popular reasons for creating a living trust is to avoid probate court when you die. You must first have enough assets to require probate court since smaller estates can, in most cases, be passed on to your heirs out of court. Every state has a dollar value, and probate court is required only if you exceed it.

The same probate laws will apply to you regardless of whether you are in Bend, Salem or Portland. An estate lawyer, familiar with the Oregon state laws, will be your best source if information regarding probate court avoidance.

Another popular reason to create a living trust is to avoid estate taxes for your beneficiaries. At the present time your estate needs to exceed two million dollars to receive tax benefits. This is due to change in a couple of years and any large estate owner should seek qualified legal help to determine whether or not you would qualify.

There are a few benefits that do not require large personal assets. If you own property in states outside of Oregon, and place those properties in your trust, it is likely your heirs can avoid going to probate court in those states. Also, all property in a trust remains out of the public records. It can be held and transferred confidentially.

Most all of your holdings can be placed into your living trust. A trust can hold stocks, bonds, life insurance policies, real estate and personal property. A trust cannot deal with guardianship of children and pets, these issues need to be included in your will. A will can also take care of all belongings left out of your trust, either intentionally, or accidentally.

Once you decide to create a living trust, take some time to decide how you will do it. One way is to hire an attorney, strongly recommended for larger estates. For smaller estates you could visit a website, such as Legalzoom, and create a living trust. You could also take advantage of books and software designed to help with living trust documents.

Make Your Own Living Trust

Again, the larger your holdings are the more complicated the trust will be. It is never a bad idea to hire an attorney so that all of the paperwork is done correctly. An Oregon living trust attorney should be able to take the maximum advantage of tax breaks, saving you far more than their fees. You will also be assured that your heirs will not have to unnecessarily go to probate court, wasting their time and money.

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