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Probate & Trusts Services
We are probate attorneys who specialize in estate planning and trust administration to ensure your wishes are honored and beneficiaries aren’t burdened.
Probate & Trust Administration
Protecting Your Future and Your Loved Ones
Proper estate planning and trust administration are essential to ensuring that your assets are protected and your wishes are honored. Probate attorneys at Rose Elder Law have extensive experience and a compassionate approach, providing expert guidance to individuals and families navigating these complex legal processes of settling someone’s final affairs.
Understanding Probate & Trust Administration
What is Probate?
Probate is the legal process that occurs when someone passes away, ensuring their assets are distributed according to their wishes or state law if there’s no will. With the rising number of individuals facing incapacitation due to conditions like stroke, Alzheimer’s, and accidents, probate also plays a critical role in managing an estate when someone can no longer make decisions.
Attorney Michael J. Rose has given many presentations in the Portland area and online about estate planning best practices emphasizing the importance of having the right legal documents in place to protect your family, prevent elder abuse, and ensure your estate is handled as you intended.
Do I Need To Go Through Probate?
In some cases, probate may not be required in Oregon. When a person passes away with a smaller estate, the court may not need to get involved in asset distribution to beneficiaries.
If the individual passed away with all their belongings in co-ownership with a spouse, child or other individual, those assets will go directly to the co-owner and probate would not be necessary.
Probate is required to deal with:
- Land title reviews (clearing land title)
- Large bank account clearing
- Stocks and bonds clearing
- Collecting debts that were owned to the individual who has deceased
- Clearing up disagreements and disputes between beneficiaries
The Role of Trust Administration
Trust administration is the process of managing and distributing the assets within a trust after the trust creator, or grantor, passes away. Unlike a will, a revocable living trust allows assets to be held in the name of the trust, which helps avoid probate.
When the grantor dies, the appointed successor trustee steps in to administer the trust according to its terms. This includes:
- managing assets,
- paying any debts or taxes, and
- distributing the remaining assets to the beneficiaries.
The attorneys at Rose Elder Law, LLC are skilled in guiding trustees through this process, ensuring that the estate is handled efficiently and in accordance with the grantor’s wishes.
The Importance of Early Estate Planning: Trust Administration and Probate
As we age, the likelihood of facing incapacitating conditions such as dementia or other health issues increases. At Rose Elderlaw, we’ve seen far too many families endure the consequences of not preparing for the legal procedings of a passing.
Effective estate planning, including both trust administration and probate considerations, is essential for safeguarding your autonomy and dignity. By establishing a comprehensive plan, you ensure that your wishes are clearly documented and that your assets are managed and distributed according to your preferences, whether through a trust to avoid probate or through probate proceedings if necessary.
Frequently Asked Questions about Probate
How long does probate take in Oregon?
Probate in Oregon typically takes six months to a year, depending on the complexity of the estate. Factors such as the size of the estate, the clarity of the will, and any disputes among beneficiaries can extend the process. In some cases, it may take longer if there are complications, like challenges to the will or difficulty locating assets.
Can a trust really avoid probate?
Yes, a properly structured trust, such as a revocable living trust, can avoid probate. Since the assets are held in the name of the trust rather than in the individual’s name, they do not go through the probate process. Upon the grantor’s death, the successor trustee can manage and distribute the assets according to the trust’s terms without court intervention.
What are the responsibilities of a Personal Representative or Trustee?
A Personal Representative (or Executor) is responsible for managing the estate during probate, which includes gathering assets, paying debts and taxes, and distributing the remaining assets to beneficiaries according to the will. A Trustee, on the other hand, manages the assets held in a trust, ensuring they are distributed in accordance with the trust’s provisions. Both roles require a high level of fiduciary duty, meaning they must act in the best interest of the estate or trust and its beneficiaries.
What happens if someone contests a will or trust?
If someone contests a will or trust, it can lead to a legal dispute that may delay the administration process. The contesting party must prove that the document is invalid, which could be due to issues like undue influence, lack of mental capacity, or improper execution. The court will review the evidence and make a determination. If the will or trust is upheld, the process continues as planned; if it’s found to be invalid, the estate may be distributed according to a previous will, or if none exists, under state intestacy laws. Legal challenges can extend the probate or trust administration process and may require mediation or litigation to resolve.
We're Here Whenever You Need Us
Hidden First Toggle
Legal Expertise:
Estate planning involves various legal instruments, such as wills, trusts, powers of attorney, and healthcare directives. We specialize in estate planning, ensuring that your documents comply with the ever-changing state and federal laws. We can help you navigate intricate legal requirements, minimizing the risk of costly errors and potential disputes.
Customization:
Every person's financial situation and family dynamics are unique. We will take the time to understand your goals and circumstances, allowing for the creation an estate plan that suits your individual situation.
Asset Protection:
We can assist you in structuring your estate plan to protect your assets from potential creditors, lawsuits, and taxation. Our experience can also help you employ strategies to minimize tax liabilities.
Avoiding Probate Delays:
Probate is the legal process through which a deceased person's assets are distributed. It can be time-consuming and costly. We can help you explore options to minimize or avoid the probate process, allowing your beneficiaries to receive their inheritances more quickly and efficiently.
Conflict Resolution:
When estate plans are unclear or disputed, it can lead to conflicts and legal battles. We can help you draft clear and legally sound documents that minimize the chances of disputes among heirs and beneficiaries. In the event that a dispute arises, we can also represent your interests and work toward an amicable resolution.
Updates and Maintenance:
Estate plans need to be reviewed and updated periodically to reflect changes in your financial situation, family dynamics, and applicable laws. We can provide ongoing support and guidance, ensuring that your estate plan remains current and effective.
Peace of Mind:
Engaging a law firm for estate planning provides peace of mind, knowing that your affairs are in capable hands. It allows you to focus on enjoying your life without the constant worry of what may happen to your assets and loved ones in the future.
Hidden First Toggle
Legal Expertise:
Estate planning involves various legal instruments, such as wills, trusts, powers of attorney, and healthcare directives. We specialize in estate planning, ensuring that your documents comply with the ever-changing state and federal laws. We can help you navigate intricate legal requirements, minimizing the risk of costly errors and potential disputes.
Customization:
Every person's financial situation and family dynamics are unique. We will take the time to understand your goals and circumstances, allowing for the creation an estate plan that suits your individual situation.
Asset Protection:
We can assist you in structuring your estate plan to protect your assets from potential creditors, lawsuits, and taxation. Our experience can also help you employ strategies to minimize tax liabilities.
Avoiding Probate Delays:
Probate is the legal process through which a deceased person's assets are distributed. It can be time-consuming and costly. We can help you explore options to minimize or avoid the probate process, allowing your beneficiaries to receive their inheritances more quickly and efficiently.
Conflict Resolution:
When estate plans are unclear or disputed, it can lead to conflicts and legal battles. We can help you draft clear and legally sound documents that minimize the chances of disputes among heirs and beneficiaries. In the event that a dispute arises, we can also represent your interests and work toward an amicable resolution.
Updates and Maintenance:
Estate plans need to be reviewed and updated periodically to reflect changes in your financial situation, family dynamics, and applicable laws. We can provide ongoing support and guidance, ensuring that your estate plan remains current and effective.
Peace of Mind:
Engaging a law firm for estate planning provides peace of mind, knowing that your affairs are in capable hands. It allows you to focus on enjoying your life without the constant worry of what may happen to your assets and loved ones in the future.
Serving the Greater Portland Metro Area, OR
Open Hours
Mon - Thurs: 9AM - 5PM
Friday: 9AM - 2PM
