If avoiding Probate is a primary goal of an Estate Plan, there are numerous approaches which can be developed. Some of the available planning techniques include co-ownership of assets with rights of survivorship, designation of beneficiaries, transfer on death designations, transfer on death deed, Revocable Living Trusts, Special Needs Trusts, Irrevocable Trusts, gifts, or a combination thereof. Each technique has positive benefits and potential negative impacts. The best combination of techniques will vary with each case’s unique combination of facts. Some techniques are rather simple to set up. Simplicity has its benefits, but sometimes a simple approach can lead to unintended consequences. Some techniques are complicated to set up, to understand, and to successfully follow through to the reward; however, the effort and costs could have great rewards for your family after your death.
Sounds complicated and full of cautionary warnings? The short answer is, YES. There are reasons for the complications, but that discussion is beyond the scope of this presentation. The bottom line - there is no single simple solution for all circumstances. An Estate Plan to avoid Probate needs to be customized to each case, depending upon the size of your estate, your family structure, type of assets, and your willingness/ability to be attentive in maintaining the Estate Plan.
For a knowledgeable, experienced, and cost-effective
Estate Planning, Will Preparation, Trust Preparation,
and Trust Administration attorney, contact Larry
K. Gray & Associates, P.C. Larry K. Gray has been
helping clients for more than 36 years.
Larry K. Gray & Associates, P.C.
404 East First Street Phone: (503) 538-1350
Newberg, Oregon
Fax: (503) 538-6957
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Geographical areas, Oregon Counties and Cities, wherein Larry K. Gray & Associates, P.C. provides legal services as an Estate Planning, Will Preparation, Trust Preparation, and Trust Administration Lawyer:
Yamhill County, Oregon Estate Planning, Will, and Trust Lawyer:
Estate Planning Attorney Newberg Oregon 97132, and the surrounding areas of Dundee Oregon 97115, Yamhill Oregon 97148, and Carlton Oregon 97111; Estate Planning Attorney McMinnville Oregon 97128, and the surrounding areas of Lafayette Oregon 97127, Dayton Oregon 97114, Amity Oregon 97101, Sheridan Oregon 97378, Willamina Oregon 97396, and Grand Ronde Oregon 97347.
Washington County, Oregon Estate Planning, Will, and Trust Lawyer:
Estate Planning Attorney Sherwood Oregon 97140, and the surrounding areas of King City Oregon 97224, and Tualatin Oregon 97062; Estate Planning Attorney Beaverton Oregon 97007, and the surrounding area of Tigard Oregon 97223; Estate Planning attorney Hillsboro Oregon 97123, and the surrounding area of Cornelius Oregon 97113, Forest Grove 97116, North Plains 97133, Banks Oregon 97106, and Gaston Oregon 97119.
Clackamas County, Oregon Estate Planning, Will, and Trust Lawyer:
Estate Planning Attorney Wilsonville Oregon 97070, and the surrounding areas of Canby Oregon 97013, Aurora Oregon 97002, and Molalla Oregon 97038; Estate Planning Attorney Lake Oswego Oregon 97035, and the surrounding areas of West Linn Oregon 97068, and Tualatin Oregon 97062; Estate Planning Attorney Oregon City Oregon 97045, and the surrounding areas of Gladstone Oregon 97027, and Damascus Oregon 97089..
Marion County, Oregon Estate Planning, Will, and Trust Lawyer:
Estate Planning Attorney Woodburn Oregon 97071, and the surrounding areas of St. Paul Oregon 97137, Donald Oregon 97002, Hubbard Oregon 97032, and Gervais Oregon 97026; Estate Planning Attorney Keizer Oregon 97303, and the surrounding areas of Brooks Oregon 97303, Silverton Oregon 97381, and Mt. Angel Oregon 97362: Estate Planning Attorney Salem Oregon 97301 97302 97396, and the surrounding areas of Stayton Oregon 97383, Aumsville Oregon 97325, Sublimity Oregon 97385, Turner Oregon 97392, and Jefferson Oregon 97352.
Polk County, Oregon Estate Planning, Will, and Trust Lawyer:
Estate Planning Attorney Dallas Oregon 97338, and the surrounding areas of Fall City Oregon 97344, Rickreall Oregon 97371, Sheridan Oregon 97378, Willamina Oregon 97396, and Grand Ronde Oregon 97347; Estate Planning Attorney West Salem Oregon 97304, and the surrounding areas of Monmouth Oregon 97361, and Independence Oregon 97351.