Determining the right time to make an estate plan is a serious task. When you visit a Portland estate planning lawyer, there are some factors the lawyer will look at, such as your current family, medical, and financial situation, to see what kind of estate plan will fit you the best. Here are some of the ways these factors can impact the estate planning process:

Family Situation
Your current family situation can make a huge impact on your estate planning decisions. For example, your marital status needs to come into account when considering who you name as agents and representatives on your Power of Attorney, Advance Directive, and Last Will and Testament. In addition, whether or not you have underage children or other relatives may affect how you plan out beneficiaries and distributions. A Portland estate planning lawyer will look at your family situation and help you determine who would serve best as your agents in case of incapacitation and the most efficient way your assets can be distributed to your beneficiaries according to your wishes.

Medical Situation
When making your estate plan, your current medical situation must come into account. If you are facing a medical crisis at the time that will make it difficult to handle your affairs, you will want to have your documents drawn up in such a way that allows your agents and representatives to make difficult decisions as easily as possible. Make sure you discuss your medical situation with a Portland estate planning lawyer so all of your options can be considered and the best possible decisions can be made.   

Financial Situation
Finances always play a key role in determining how to shape your estate plan. For example, many people think estate plans are reserved only for the super rich; however, if own your own home in addition to having other financial assets, you’ll want to have a responsible way to pass those things down to loved ones. You will also want to keep track of how your bank accounts are set up, especially in terms of joint ownership and beneficiary designations. 

Making an estate plan is a large step for anyone, but it is important to know that you will be protected no matter what happens. If you have questions about how an estate plan will impact your current situation, please contact our office to set up a consultation with a Portland estate planning lawyer. 

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

P.S. Want to get started slowly but surely, naming guardians for your kids? Check out our Guardian Plan kit.

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Candice N. Aiston is an Legal Planning Attorney for Estates + Businesses in the Portland, Oregon area. She helps people to prepare for a lifetime of security, prosperity, and guidance. If you would like to receive her free reports, please visit http://aistonlaw.com/ to sign up. Follow her Facebook page for daily planning tips: https://www.facebook.com/aistonlaw/.