Seems like a grandiose term. My means are modest. My plan is simple.
An estate plan is not only for those you consider to be wealthy. The term 'estate' refers to all you own – your assets – belongings, finances, and real property. These must be transferred when you die and someone will have to manage that. Someone will receive it and the "simple" dispersal you have in mind will not be simple without an estate plan.
A proper estate plan is a comprehensive approach to caring for you during your life, your assets now and when you die, and those close and dear to you. Close because they will be called upon to provide for your care while you are living not a stranger the court appoints, as well as managing your assets' transfer after your death. That plan provides for your own needs while you are living; gives clear, legally supportable directions for the transfer of your assets after your passing and appoints guardians for young children so that they are well-cared for by those you trust. Estate plan then, is the legal term applied to the set of instructions, based in the law, that carry out your intentions for your benefit and the benefit of all that you care for.
Your Life. Your Legacy. Your Way.
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Confluence Law Center here to help you at the confluences of your life.
Serving Clackamas, Hood River, Wasco, Deschutes, Multnomah, and Washington Counties.
Confluence Law Center
24461 E. Welches Road, Suite 4
P.O. Box 964
Welches, OR 97067