The Election Won't Change the Government's Plan for Your Family and Assets...You Need an Estate Plan!

As we round out another election season, it's natural to focus on how government policies might affect our families and finances. However, as any experienced Portland, Oregon estate planning lawyer will tell you, there's a crucial aspect of your family's future that remains constant regardless of who's in office: the need for a personalized estate plan.

The Government's Default Plan

Here's a sobering reality: if you don't create your own will or trust, you're defaulting to the government's "plan" for your estate. This plan is implemented through a process called probate, which can be both expensive and time-consuming. During probate:

·      Your estate cannot be distributed to loved ones

·      A judge makes decisions about how your legacy is distributed

·      Family disputes are settled by the court

As a Portland, Oregon estate planning lawyer, I've seen firsthand how this process can strain families and diminish inheritances. The good news? You have the power to avoid this scenario entirely.

Beyond Death: Planning for Incapacity

Estate planning isn't just about what happens after you're gone. It's also about protecting yourself and your family while you're alive. Without crucial documents like a healthcare directive and power of attorney, your loved ones can't simply "step in" if you become incapacitated. Instead, they must petition the court for these rights – a process that's expensive, time-consuming, and potentially contentious.

Even more concerning, without these documents in place, someone you may never have chosen could gain control over your finances and healthcare decisions. A Portland, Oregon estate planning lawyer can help you create these vital documents, ensuring your wishes are respected even if you can't speak for yourself.

Long-Term Care: Protecting Your Assets

Did you know that statistically, most of us will need long-term care at some point in our lives? The government's default plan for this scenario is simple: you pay until you're broke, then Medicaid steps in. However, with proper planning, you can work to protect your hard-earned assets for your family, not Uncle Sam.

A knowledgeable Portland, Oregon estate planning lawyer can help you explore options like irrevocable trusts or long-term care insurance to safeguard your assets while ensuring you receive the care you need.

Taking Control of Your Legacy

While elections may change the political landscape, they don't change the fundamental importance of having a solid estate plan. Some of the most critical decisions affecting your family's quality of life are actually in your hands, not a politician's. By creating a comprehensive estate plan, you're taking control of your legacy and ensuring your wishes are carried out.

Don't leave your family's future to chance or government default plans. A Portland, Oregon estate planning lawyer can guide you through the process of creating a personalized estate plan that protects your assets and ensures your wishes are respected.

Remember, the best time to plan is now, regardless of your age or asset level. By taking action today, you're giving yourself and your loved ones the gift of security and peace of mind. Contact us at (503) 235-5150 to get started with the process.

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If you want to get started on your estate plan, read about our estate planning services and schedule an appointment.

To your family's health + happiness.

~Candice N. Aiston