Listen or watch Megan Salsbury discuss estate planning on our podcast

It’s no secret that an Oregon estate plan is important for you and those you want to provide for. But the hardest thing for many people is where to start.

With experience, expertise, and care for clients, Megan Salsbury works with clients throughout Oregon. From wills and trusts to powers of attorney and healthcare surrogacy, Megan understands the complexities that underlie every estate plan journey.

Trying to get started with your Oregon will, trust, and other estate planning instruments? Check out Megan’s conversation below in audio or video podcast.

How Long Have You Been Practicing As An Estate Planning Attorney?

I have been an estate planning attorney for approximately 15 years. Before attending law school, I worked as a paralegal in estate planning, so I have extensive experience with both simple and complex estates.

Why Do Clients Typically Seek Estate Planning Services?

Clients often seek estate planning services due to significant life events, such as the birth of a child or the death of a loved one, which make estate planning crucial. Some clients want to avoid the complications of probate or ensure that their assets are distributed according to their wishes, rather than being directed by state statutes. It’s beneficial to plan early to avoid estate litigation and provide clarity for beneficiaries.

What Happens If You Don’t Have An Estate Plan When You Pass Away?

If you pass away without an estate plan, your assets are distributed according to state statutes, which may not align with your wishes. This process is called intestate succession. Without a will or trust, you lose control over who inherits your estate, which can lead to unintended consequences for your beneficiaries.

What Are Other Circumstances Where Someone Would Need Estate Planning?

Estate planning is crucial not only for asset distribution after death but also for managing affairs if you lose capacity. For instance, a power of attorney can designate who will make medical and financial decisions for you if you’re unable. Without such planning, your family might need to pursue guardianship or conservatorship through the court, which can be lengthy and complicated.

What Prompts Someone To Revise Their Estate Plan?

People often revise their estate plans due to life changes like moving to a new state, changes in tax laws, or the death of a beneficiary. Other triggers include changes in personal relationships, such as divorce, or adjustments in financial circumstances. Regular reviews every five years or after major life events can help ensure your estate plan remains effective.

What Issues Arise From Self-made Estate Planning Documents?

Self-made or AI-generated estate planning documents often lack state-specific requirements and can lead to legal challenges. These documents might not account for unique circumstances, such as tax implications or special needs of beneficiaries. If contested, they may not hold up in court, and without attorney oversight, there’s a higher risk of inaccuracies and unintended outcomes.

Why Are Divorce, Remarriage, And Blended Families Significant For Estate Planning?

Divorce, remarriage, and blended families complicate estate planning because they introduce new dynamics and potential conflicts over asset distribution. After a divorce, it’s critical to update documents to reflect your current wishes. In blended families, careful planning ensures that biological and stepchildren are provided for according to your intentions, preventing unintended disinheritance.

Why Is It Important To Treat Estate Planning Like Planning For Retirement?

Estate planning, much like retirement planning, requires foresight and preparation to ensure you and your family’s future needs are met. Effective estate planning allows you to dictate how your affairs are handled when you can no longer make decisions, offering peace of mind and reducing the burden on your loved ones.

What Should People In Long-term Relationships Know About Estate Planning?

In long-term relationships, especially unregistered domestic partnerships, partners will not inherit under intestate succession laws unless explicitly included in an estate plan. Estate planning ensures that your partner can inherit and make medical or financial decisions on your behalf, aligning with your wishes.