Trusts can take a variety of forms. There are so many different uses for them. There are standard trusts use by people to pass their assets on to their designated beneficiaries after someone’s death. There are trusts that are specifically made for someone who is receiving Supplemental Security Income (SSI) and/or Medicaid benefits. There are trusts for life insurance and to help care for pets after the owner passes away. The possibilities are almost endless.
The administration of trusts after someone passes avoids probate which is why many people would like to use them. In some places, probate is a long and costly process. Luckily, in Oregon, probate is pretty straight forward, so avoidance of probate is not as important for most people.
I would love to discuss this part of your estate plan with you to see if a trust, or which one, is right for you and your family.
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Law Office of Megan Amelung, LLC • P.O. Box 41132, Eugene, OR 97404
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