At Myatt & Bell, P.C., we are passionate about estate planning because we administer estates every day and repeatedly see how proper planning builds family legacies and strengthens family bonds during difficult times. We also find that insufficient or non-existent planning exacerbates the pain from losing a loved one and can even lead to feuds and estrangement between family members. Our goal is to work with each client to develop a personalized estate plan that addresses their needs and protects their legacy.
Regardless of the size of your estate, it’s essential to have a plan in place. An estate plan is much more than just a list of who receives your money and possessions.
For instance, a solid estate plan will include plans for the possibility of your incapacitation so that your loved ones can take care of you should you become unable to do so. An incapacity plan will save your family considerable time, energy, heartache, and money.
Additionally, your plan should have protections in place regarding how and when your child will receive money from your estate. For younger children, you can control when and how they receive their inheritance and put limitations on it so that they pay for college, educational, and health needs first. For older children, we can include a Divorce Protection Trust so that if your child gets divorced, their ex will not take half of their inheritance.
Finally, for families with assets over $1 million, your estate plan should include tax planning to reduce your Oregon and Federal estate tax liability as much as possible. When done correctly and thoughtfully, estate planning ensures a smooth transition for your family from where you are today, through the period of physical and mental decline that most of us will face, to a time after you are gone. Our plans often include the elements above and much more.
Estate planning has many components. Our attorneys can help you with all of your estate planning needs, including:
For complex and high net worth estates, there are several additional tools and trusts that we will create for you. Reach out today to discuss your estate planning goals with a complimentary estate planning consultation.