This is the final installment of the Wills vs. Trusts series and it is clear that Oregon probate law can be ruthless to those who do not create a written estate plan. It also imposes serious impacts if clients do not create an estate plan that is right for them.
Trusts are subject to misinformation in Oregon. Entire industries exist to scare people out of probate and create these large estate vehicles that are not always necessary. Most clients who fall for these sales pitches would save money by drafting a will and never creating the trust.
When used for the right reasons, a trust protects your family’s interests. If it is created solely to avoid probate, you will lose more money and time than you will save. Here is an overview of what a trust can and cannot do in Washington, Multnomah, Marion and Clackamas counties.