Last Wills and Testaments in Oregon

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Last Will and testament

Last Will and testament

What is a will? 

A will is a legal document that lays out an individual’s wishes regarding the distribution of his or her assets after death. In addition, a will can explain wishes regarding the care of an individual’s children and pets, and outline funeral and cremation arrangements. Generally, a will applies to assets that do not have beneficiary designations and can allow you to distribute things such as bank accounts, real property, and prized heirlooms. A will also allow you to designate gifts to charity on your death.  

Why should you create a will?

Failure to create a will leaves decisions about an individual’s estate up to state law. A will allows you to clearly lay out your wishes and ensure your assets and children go to those you intend. 

What makes a will valid? 

In Oregon, in order for a will to be valid it needs to be a written document that is signed before two witnesses. Those witness will then need to state under oath, usually before a notary, that they watched the individual sign his or her will. A failure to properly create a will, will result in the will being declared invalid and in that case the state law will determine how an individual’s estate will be administered. 

If I have a trust do I also need a will? 

Yes, if your estate plan includes a revocable trust, you will also have a will. This type of will is identified as a “pour-over will.” On death, the pour-over will, will funnel assets that were not transferred into the trust during lifetime, into the trust on death. 

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