Will you be better served by a Will or by a Trust?

Reply to the prompts below to receive a customized recommendation.

Section: 1

A. Specific Circumstances

Select all that apply, if none do proceed to Section 2.
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A. I have minor children.
B. I have a special needs child.
C. Either I or my spouse have step-children.
D. I am single, divorced and/or widowed and I am concerned about having someone manage my affairs if I become incapacitated.
E. My spouse’s mental capacity is declining and I am concerned that soon he or she will not be able to understand legal documents.
F. My spouse requires long term medical care and I am concerned that the costs of care will deplete our savings.
G. According to the Oregon Estate Tax Calculator, I will likely owe Oregon estate taxes.

Section 2

A. General:

Select 1 if not important, 5 if very important, N/A if not applicable.
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I would like my estate to pay as little as possible in state and federal estate taxes.
I do not want my family to have to go through the court process of probate when I pass away.
I am a private person and do not want the details of my estate plan to be publicly available or published in the newspaper.
I want the gifts and inheritance I leave to my family to be distributed as quickly as possible.
I want the smoothest, most efficient, and cheapest possible administration of my estate when I pass away.
I am willing to pay more today for an estate plan that will save my family time, money, and frustration when I pass away.
I would like to make it as hard as possible for people to challenge my estate plan and how I choose to leave gifts to my beneficiaries.

B. Gifts for Children:

Select 1 if not important, 5 if very important, N/A if not applicable.
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I would like to put limitations on how my children can use their inheritance. For example, I would like my children to use their inheritance for education first.)
I would like to restrict the age at which my children gain full access to and control over their inheritance. For example, I do not want them to receive everything at age 18, which is the default under Oregon law.
I would like to ensure that my children’s inheritance does not get shared with their exspouse’s, should they ever get divorced. (Divorce Protection)
I would like to protect my children’s inheritance from their creditors or potential creditors. (Creditor Protection)
I am concerned that my children have or may develop an addiction to drugs, alcohol, or gambling and I would like to make it harder for them to use their inheritance for these things. (Addiction Protection)

C. Incapacity:

Select 1 if not important, 5 if very important, N/A if not applicable.
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I am concerned that I or my spouse will be unable to care for ourselves in the foreseeable future.
I am concerned that I or my spouse will be unable to manage our finances in the foreseeable future.
If I become incapacitated, I would like my family to be able to take care of me without having to go to court and without requiring court supervision.
If I become incapacitated, I would like my family to be able to do Medicaid planning for me to preserve some of the assets I have gathered, while also ensuring that I am cared for.
If I become incapacitated, I would like my family to be able to make gifts to family members to reduce the potential Oregon estate tax bill that would be owed by my estate.

Your Score is:  

Section One

 


Section Two

 


Disclaimer: This calculator is an information tool only to help lay out the different factors that families often consider when deciding between a Will or Trust. To find the best for your family, speak with an attorney.