Wills & Trusts

Medford Wills & Trusts Attorney

Customized Estate Planning in Klamath Falls, Medford & Jackson County, OR

Ensuring that your assets and property are passed on to your heirs and beneficiaries according to your wishes requires advance planning. Two of the foundations of this estate planning are wills and trusts. Nearly everyone is familiar with what a will does. However, it is important to remember that a will only goes into effect upon your passing and, without one, the state of Oregon will decide who inherits your assets and property. Trusts, however, can be created for many different purposes and can be managed while you are still alive. After your passing, the person you designate to administer your trust will be responsible for passing on your assets according to the terms you wrote into the trust document. Estate planning can include both wills and trusts.

To customize your estate planning through wills and trusts, you need to understand how they work, what they can do, and the options you have in creating them. At Oakes Law Office, PC we focus a large portion of our practice on estate planning. Our Medford wills and trusts lawyer can educate you on these valuable legal methods for protecting your estate and how you want that estate to be distributed upon your passing. Our firm has been providing competent and trusted legal guidance in these matters for decades.

Ensure your estate is protected through a valid will and/or trusts. Contact Oakes Law Office, PC online or at (541) 204-2037 for a free, initial consultation.

Estate Planning through Wills & Trusts

Wills

Wills are legal instruments that state your specific instructions on how you wish your assets and property to be distributed to your heirs and beneficiaries after you are gone. Your will can name the person you wish to administer it, known as your “executor.” You can also name a guardian for any minor children you may have and someone to manage the estate or assets you leave to those children until they become adults. You can also have instructions as to funeral services, burial, or cremation. Without a will, the probate court will decide how your estate will be passed on without any input from you.

Trusts

Trusts are another method for protecting and passing on your property and assets. They can range from the very simple to the very complex, depending on your situation. They can also be designed for various purposes, from caring for special needs relatives to trusts set up for minor children.

A trust involves three parties, the person who creates it, known as the settlor, a trustee who manages it, and the beneficiaries to whom the assets in the trust will be passed on. A trust is a separate legal entity into which you will place your assets. Those assets will then be managed by the trustee. In a living trust, you can act as the trustee of your assets and manage, change, or revoke the trust as you see fit. In the event of your passing, a successor trustee will then administer the transfer of your assets to your beneficiaries according to the instructions you have written into the trust without having to go through probate.

Various Types of Trusts Can Include but Are Not Limited To:

  • Living trusts, as described above which are revocable. These trusts protect your assets and provide the advantage of probate-free administration upon your passing that minimizes time, expenses, and stress for your loved ones.
  • Special needs trusts. These trusts provide advantages for special needs relatives who receive governmental benefits.
  • Marital trusts. These are generally designed to minimize taxes, for asset protection, and to ensure that assets are distributed to the heirs and beneficiaries of your choosing.
  • Charitable trusts. These are designed to pass on assets to your chosen groups and organizations.
  • Trusts for minor children. Assets can be set aside in a trust to ensure that your children have the financial support needed for various purposes, such as higher education and more. Once they become adults, these assets can be distributed according to your instructions.
  • Life insurance trusts. These are generally irrevocable trusts based on the asset of a life insurance policy for which you are the beneficiary. After your passing, the policy proceeds are invested or administered for your beneficiaries.
  • Spendthrift trusts. These are irrevocable trusts that allow an independent trustee to manage how the trust assets are used for the beneficiary.

Work with an Experienced Estate Planner

Wills and trusts provide legal methods for protecting yourself and your loved ones in the matter of your estate assets and property. These legal documents can ensure that your wishes are carried out upon your passing. At our law office, we can evaluate your unique situation so as to provide options based upon your needs and goals and follow through with a tailor-made estate plan designed for you.

Preserve your estate and legacy through proper planning. Contact us online or at (541) 204-2037 to get started.

Access Our Resources

Clients Share Their Experience

  • “I was made to feel very comfortable and I left feeling extremely confident. I was very well taken care of. So I hired Karen. She had great client education she was there with me every step of the way.”

    - Jaime P.
  • “She and her staff answered all of my questions without hesitation and guided me through the whole process. If bankruptcy may be a possibility for you, I would highly recommend that you meet with Karen.”

    - Julie C.
  • “They allowed me to start over and gave me the knowledge to rebuild and helped me forgive myself for the mess I made from being irresponsible with my debt.”

    - Martha G.
  • “Karen has a national reputation but is never too busy to help other less-experienced bankruptcy attorneys with questions. She is extremely client-focused.”

    - Thomas M.
  • “Karen was able to help us solve the issue and she went after the other lawyer for his incompetence with excellent results.”

    - George F.
/
  • American Bankruptcy Institute
  • American Bar Association
  • NACBA
  • Student Loan Law Workshop
  • National Association of Consumer Advocates
  • 1st Lieutenant Bankruptcy Boot Camp
  • Hyatt Legal Plans

Trusted Legal Guidance

Genuine Dedication & Care
  • Please enter your first name.
  • Please enter your last name.
  • Please enter your phone number.
    This isn't a valid phone number.
  • Please enter your email address.
    This isn't a valid email address.
  • Please make a selection.
  • Please enter a message.