Easy Questions  
Free Legal Documents

What is a Last Will and Testament in Adel, OR

What is a Last Will and Testament in Adel, OR

An important legal document, the last will and testament, is the first building block of a good estate plan. Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. The estate is the assets or property. You may need to choose between either a will-based estate plan or a trust-based estate plan. Your last will and testament will largely depend on your overall estate planning strategy.

Option 1: Will-Based Estate Plan

All essential details of your last will and testament will be outlined in the will-based estate plan. It will provide information including the person to be put in charge of settling your final affairs (the executor), the persons who will inherit your property (beneficiaries), and the provisions on how they will inherit it. Your last will and testament with a will-based estate plan will cover the following:

1. Who will serve as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will inherit your property

4. How and when your property will ultimately be transferred to your beneficiaries

5. Who will serve as guardian of your minor children until they become adults


Option 2: Trust-Based Estate Plan

In the trust-based estate plan a document called a revocable living trust will cover all the important points listed above in the will-based estate plan with one exception: the person in charge of settling your final affairs after you die is called an administrative or successor trustee instead of an executor. If you have a revocable living trust you will still need a last will and testament so. Ideally, you will fund or move your assets into your trust before you die. If you fail to fund even one asset into your trust, then the last will and testament will be the necessary document that will "catch" the unfunded property and transfer it to your trust after you die. The last will and testament in this case will function as a pour over will that will cause the unfunded assets to "pour over" into your trust through a probate process.


A pour over will needs to cover:

1. Who will be in charge of your assets that were not funded into your trust as the personal representative/executor

2. What powers your personal representative/executor will have

3. Who will serve as guardian of your minor children until they become adults

4. What will happen in the absence of a Last Will and Testament?


In order for your property to go to the beneficiary of your choice after you are gone, a last will and testament is recommended.


The absence of a will could result in the state providing a last will and testament on your behalf under the state's intestacy law. The laws of the state that your property is located in will prevail. This can get complicated if you own property in multiple states.

 
Edit, Download, & Print a Free
Oregon Last Will
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
 
Edit, Download, & Print a Free
Oregon Living Trust
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
 
Edit, Download, & Print a Free
Oregon Power of Attorney
Page 1
Page 2
Page 3
Page 4
Page 5
 
Edit, Download, & Print a Free
Oregon Living Will
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Related Legal Services near Adel, OR
Holmes Sherman W
10414 NE Sandy Blvd
Portland, OR 97220
(503) 255-9777
Attorneys
Charter Joseph
450 Siskiyou Blvd # 3
Ashland, OR 97520
(541) 488-9556
Attorneys
Joseph M. Chapter
928 C St
Ashland, OR 97520
(541) 488-9556
Attorneys, Legal Service Plans
Tindell Raymond S
11112 NE Halsey St # A
Portland, OR 97220
(503) 257-9268
Attorneys
Vincent Charles
590 Commercial Ave
Coos Bay, OR 97420
(541) 888-9071
Attorneys, Legal Service Plans
Law Offices
622 Siskiyou Blvd
Ashland, OR 97520
(541) 482-8492
Attorneys, General Practice Attorneys
David Seulean PC
622 Siskiyou Blvd
Ashland, OR 97520
(541) 482-8492
Attorneys, Legal Service Plans
Davis, Hearn & Anderson PC
515 E Main St
Ashland, OR 97520
(541) 210-8044
Probate Law Attorneys,  Attorneys,  Family Law Attorneys,  Wills, Trusts & Estate Planning Attorney
Bankruptcy Law Center
4721 NE 102nd Ave
Portland, OR 97220
(503) 253-7777
Bankruptcy Law Attorneys,  Legal Service Plans,  Civil Litigation & Trial Law Attorneys,  Bankruptcy
Trierweiler Todd
4721 NE 102nd Ave
Portland, OR 97220
(503) 253-7777
Legal Service Plans,  Attorneys,  General Practice Attorneys,  Bankruptcy Law Attorneys
Lasken Glen J
129 NE 102nd Ave
Portland, OR 97220
(800) 896-6976
Attorneys
Simms Gary L
585 Nyla Ln
Ashland, OR 97520
(541) 482-6790
Attorneys, Legal Service Plans
De Plois Jacques P
650 Newmark Ave
Coos Bay, OR 97420
(541) 888-6338
Attorneys, Family Law Attorneys, Probate Law Attorneys
Eames Tod
11155 NE Halsey St
Portland, OR 97220
(503) 254-6313
Attorneys
Cohen Emily S
10535 NE Shaver St
Portland, OR 97220
(503) 253-6016
Attorneys
McNutt Scott
1052 Southwest Blvd
Coos Bay, OR 97420
(541) 269-5821
Employee Benefits & Worker Compensation Attorneys,  Social Security & Disability Law Attorneys,  Acc
Landes Donald H
971 Commercial Ave
Coos Bay, OR 97420
(541) 269-5767
Attorneys, Probate Law Attorneys
Sario Markku A
206 S Humbolt St
Canyon City, OR 97820
(541) 575-5750
Attorneys, Criminal Law Attorneys
Dorsey David A
243 W Commercial Ave
Coos Bay, OR 97420
(541) 269-5566
Attorneys, Family Law Attorneys, Legal Service Plans
Joelson Gordon A
243 W Commercial Ave
Coos Bay, OR 97420
(541) 269-5566
Estate Planning Attorneys,  Attorneys,  Wills, Trusts & Estate Planning Attorneys,  Corporation & P
Wilgers Steven L
243 W Commercial Ave
Coos Bay, OR 97420
(541) 269-5566
Business Law Attorneys,  Real Estate Attorneys,  General Practice Attorneys,  Estate Planning Attorn
Finneran Lawrence
405 N 5th St
Coos Bay, OR 97420
(541) 269-5565
Corporation & Partnership Law Attorneys,  Real Estate Attorneys,  Attorneys,  Business Law Attorneys
Thompson Martin E
53 W Washington St
Burns, OR 97720
(541) 573-5299
General Practice Attorneys, Attorneys, Legal Service Plans
Knudsen Sam
598 Anderson Ave # 102
Coos Bay, OR 97420
(541) 267-5297
Attorneys, Legal Service Plans
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US