Protecting Your Loved Ones from Unexpected Pain and Hardship

When someone dies without a trust, most likely their estate will go through probate. Probate is a time-consuming, government-involving, expensive process. Locally in Oregon, the average time to have a probate case appear before a judge is six months to two years. The probate cost is normally 3-5% of the estate.

This means if someone left $100,000 with a will, but no trust, it would likely cost the heirs $3,000-$5,000. If someone left $500,0000, the cost could be $15,000 to $25,000. One other ugly side of probate is that your estate is public information and people can make fraudulent claims on your estate that could cause further delay and cost, not to mention emotional suffering for your chosen heirs. Having a written will does NOT protect you from probate.

Consider creating a revocable trust, the average cost for our clients is between $1,250 and $2,500. Here is what a revocable trust will do:

Control over distribution of assets: A trust allows you to determine how your assets will be distributed after your death. You can specify the conditions that must be met before your beneficiaries can receive their inheritance, such as reaching a certain age.
Avoiding probate: Assets held in a trust are not subject to probate, which is the legal process of distributing your assets after your death. Avoiding probate can save time and money, and it can also provide privacy since probate proceedings are generally public.
Ensuring ongoing management of assets: If you become incapacitated or unable to manage your own affairs, a trust can ensure that your assets are managed according to your wishes by a trustee you appoint. This can provide peace of mind and avoid the need for court-appointed guardianship or conservatorship proceedings.