Wills & Estate Planning
The Stan Butterfield law firm recommends that every adult have at least three documents to prepare for the end of life or things that severely limit their ability to manage their own life. These documents are a will, a durable power of attorney, and in Oregon, what is known as an “advance health directive”.
Wills:
A will directs what will happen with your material possessions after you die. It says who gets your money and property and tells the court the person you want put in charge of it. Without a will, the State of Oregon determines who gets your property and the court could appoint almost anyone to be in charge of your estate after you die.
Durable Power of Attorney:
This document is only in force while you are living. In it, you appoint someone you trust to conduct business for you. It is called “Durable” because it’s in force even if you should become incapacitated. If you became completely debilitated, your agent would be able to pay bills, do banking, re-direct mail, file federal and Oregon income tax, buy and sell property and conduct about any transaction you can imagine. It avoids, in most cases, having a court appoint a guardian or conservator for you if at some point you become unable to manage your finances due to dementia or some other physical limitation.
Advance Health Directive:
Oregon has designed this document so you can appoint a person to act as your representative in making health care decisions for you if you were unable to speak for yourself. In the document you name a person to act on your behalf and you also state your preferences regarding most situations in which your representative would be asked to make decisions regarding the end of your life.
Call Stan today to set up an appointment to start your planning—(503) 623-2427.
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