Wills and Trusts Lawyer Team in Salem, OR

Wills and trusts are two of the most important tools to include in an estate plan. While a last will and testament outlines your wishes concerning who will receive your property when you pass, a trust can offer tax benefits and greater control over asset distribution. Choosing which estate planning vehicles you use can depend on several factors, including your family situation, financial circumstances, and specific goals. It’s essential to have an experienced attorney by your side who can advise you regarding your options and help ensure your objectives are satisfied. At Litowich Law, we understand how overwhelming the estate planning process can be. Our wills and trusts lawyer team will walk with you every step of the way as we discuss the different types of tools that can be implemented to leave your legacy. Offering personalized time and attention, we will guide you through the process of creating a tailored estate plan that will give you the peace of mind you need.

Helping You Draft a Last Will and Testament That Meets Your Wishes

Everyone should have a last will and testament, regardless of age. This document is the foundation of every estate plan. Significantly, if you pass away without at least a valid will in place, you will have died “intestate.” This means that your property and assets would be distributed to your heirs based on Oregon’s intestate law, which may result in consequences you had not intended. A will goes into effect at the time you pass away and allows you to:
  • Specify how you wish your assets to be distributed
  • Name your beneficiaries
  • Identify who the executor of your estate will be
  • Designate a guardian for your minor children
There are strict criteria in Oregon for a will to be valid. Specifically, it must be in writing and signed by the testator in front of two witnesses. The testator must also be at least 18 years old and of sound mind — this means they can think clearly and understand the effect of their actions. It’s essential to have an attorney draft your will to ensure all the legal requirements are met and the document is legally binding. A well-drafted last will and testament can help reduce the potential for family disputes and give you peace of mind that your loved ones will be provided for in accordance with your wishes. The wills and trusts lawyer team at Litowich Law knows what it takes to prepare a solid will that can withstand legal challenges. We will work closely with you to make sure no details are overlooked and create a will that will align with your values and meet your objectives.

Skillful Counsel for Creating Trusts

A trust is a powerful estate planning tool that can be used to achieve a number of objectives. Trusts can allow you to pass assets to your beneficiaries while avoiding the lengthy and costly probate process. They can also be used to plan for incapacity and designate someone to manage your financial affairs in the event you become unable to do so. There are many different types of trusts that can be created, based on your needs and wishes. For example, a trust can allow you to provide for a special needs beneficiary without interfering with their government benefits. You may also use a trust to give to a charitable cause you support. Other trust structures can maximize estate tax exemptions or prevent a beneficiary from recklessly spending their inheritance. Trusts can offer the following advantages:
  • Privacy — Unlike wills, which become part of the public record, trusts remain private. They can keep your beneficiaries, financial affairs, and details of your estate confidential.
  • Flexibility — Trusts offer flexibility in how assets are distributed to beneficiaries, allowing the grantor to provide detailed instructions and conditions for distribution.
  • Control — With a revocable trust, the grantor can remain in control of their assets during their lifetime and change the trust terms at any time.
  • Efficiency — Trusts distribute assets more quickly than those that are distributed through a will. While a will must go through probate, beneficiaries have direct access to the assets held in a trust.
  • Protection — Certain trusts can protect assets from creditors and lawsuits.
  • Tax benefits — There are several types of trusts that can be used to minimize estate taxes.
Trusts are complex. It’s essential to work with a wills and trusts lawyer who can help you decide on the best course of action based on your circumstances. At Litowich Law, we can assist you with determining what type of trust is right for you and customize a trust instrument to ensure your future wishes will be honored. Providing trusted counsel and dedicated representation, we will take the steps necessary to protect your legacy.

Contact an Experienced Oregon Wills and Trusts Lawyer

If you are ready to begin estate planning, it’s vital to have a wills and trusts lawyer who can help you navigate the process. Based in Salem, Litowich Law offers high-quality legal services for estate planning matters throughout Oregon. We welcome you to contact us for a consultation.