ESTATE PLANNING QUESTIONS
Estate Planning FAQs - Frquently Asked Questions
Estate planning raises practical questions: Do you need a will or a living trust? What happens if you become unable to manage your affairs? And how does Oregon probate work? These answers offer a starting point for Portland-area and Oregon families. Each situation is different, so consult an Oregon attorney for advice about your circumstances.
Based in Oregon • Serving families in many states across the U.S.
ESTATE PLANNING QUESTIONS
Estate Planning FAQs
Estate planning raises practical questions: Do you need a will or a living trust? What happens if you become unable to manage your affairs? And how does Oregon probate work? These answers offer a starting point for Portland-area and Oregon families. Each situation is different, so consult an Oregon attorney for advice about your circumstances.
Based in Oregon • Serving families in many states across the U.S.
ESTATE PLANNING EDUCATION & COORDINATION
Trust-Based Estate Planning for Families Who Want Clarity and Control
We come to you when signatures matter.
Fortis Planning helps families understand and coordinate trusts, wills, powers of attorney, and legacy planning: with a clear, educational process designed to protect the people and property that matter most.
Based in Oregon • Serving families in many states across the U.S.
ESTATE PLANNING EDUCATION & COORDINATION
Trust-Based Estate Planning for Families Who Want Clarity and Control
We come to you when signatures matter.
Fortis Planning helps families understand and coordinate trusts, wills, powers of attorney, and legacy planning: with a clear, educational process designed to protect the people and property that matter most.
Based in Oregon • Serving families in many states across the U.S.
ESTATE PLANNING QUESTIONS
Estate Planning Basics
What is estate planning?
Estate planning is the process of deciding who can help manage your affairs if you become unable to do so and how your property should be handled after your death. Depending on your goals, a plan may include a will or trust, a financial power of attorney, an Oregon advance directive, and updated beneficiary designations.
Do I need an estate plan if I don’t have significant assets?
Estate planning is about more than the amount of property you own. It can help you name people you trust to handle financial or health care decisions, express your wishes for the people and property you care about, and plan for minor children. The right documents depend on your circumstances.
What documents are commonly included in an estate plan?
An estate plan may include a will or living trust, a durable financial power of attorney, an advance directive, and beneficiary or ownership updates, Some families may need additional documents.
ESTATE PLANNING QUESTIONS
Wills, Trusts, and Probate
What is the difference between a will and a living trust?
A will gives instructions for property covered by the will after your death. A revocable living trust can hold and manage property transferred into it during your lifetime and provide instructions for that property after your death. A trust only governs assets properly transferred to it; other assets may pass under beneficiary forms, ownership arrangements, a will, or other rules.
Does a will avoid probate in Oregon?
A will does not automatically avoid probate. It tells the personal representative how to handle property that is subject to probate. Whether an asset goes through probate can depend on how it is titled and whether it has a beneficiary designation or another transfer arrangement.
Can a living trust help avoid probate in Oregon?
Assets properly transferred to a revocable living trust can generally be managed and distributed by the successor trustee outside the probate process. Assets left outside the trust may still require probate or another transfer process. Trust funding and ownership details matter.
What does it mean to fund a trust?
Funding a trust means completing the steps needed to transfer eligible assets into the trust or coordinate how they will pass. Those steps can involve changing ownership records or reviewing beneficiary designations. Not every asset should be transferred directly into a trust, so discuss specific assets with an attorney and, when appropriate, a tax professional.
Do I still need a will if I have a living trust?
Many living-trust plans also include a pour-over will to address certain assets that were not transferred into the trust. A will may also be used to nominate a guardian for minor children. The documents should be prepared to work together, and an attorney can explain what is appropriate for your plan.
Does a revocable living trust protect assets from creditors or reduce taxes?
A revocable living trust does not automatically provide asset protection or eliminate taxes. It is commonly used to manage trust property and provide instructions for its distribution. Creditor protection and tax planning involve separate legal and financial considerations, so don’t rely on a trust alone to address them.
ESTATE PLANNING QUESTIONS
Powers of Attorney and Health Care Planning
What does a financial power of attorney do?
A financial power of attorney authorizes someone you choose to handle the financial matters described in the document. Depending on its terms, it may help with tasks such as banking or managing property if you cannot handle them yourself. The authority granted and when it takes effect depend on the document.
What is the difference between a financial power of attorney and a medical power of attorney?
A financial power of attorney authorizes someone you choose to handle financial matters as described in the document. A medical or health care power of attorney authorizes someone to make health care decisions for you if you cannot communicate or make them yourself. The document names and rules vary by state.
What is an advance directive?
An advance directive records your health care wishes for a time when you may be unable to communicate. Depending on the state, it may also let you name a health care decision-maker, or that appointment may be made in a separate medical or health care power of attorney. Oregon combines these functions in its advance directive form. Check the requirements where you live, especially if you have documents from another state.
ESTATE PLANNING QUESTIONS
Families and Next Steps
What happens if I die without a will?
If you die without a will, state intestacy laws generally determine who inherits property that is part of your probate estate. The result depends on your state, family relationships, asset ownership, and beneficiary designations; some property may pass outside probate. If probate is needed, a court may appoint a personal representative under state law. A local estate-planning or probate attorney can explain the rules that apply to your circumstances.
Can my will name a guardian for my minor children?
Many parents use a will to nominate someone they would like to care for their minor children. An Oregon attorney can explain how that nomination is considered in the court process and how an estate plan can address property for children.
When should I review or update my estate plan?
Consider reviewing your plan after a major life change, such as marriage, divorce, a new child, a death in the family, a significant change in property, or a move to another state. An attorney can tell you whether the documents or related ownership and beneficiary details should be updated.
How much does estate planning cost?
Costs vary based on your goals, the complexity of your situation, the documents involved, and any asset-transfer work. Ask for a clear description of what is included, what additional services may cost, and how updates are handled.
Does Fortis Planning provide legal advice?
Fortis Planning provides estate-planning education and coordination. Fortis Planning is not a law firm and does not provide individual legal advice. When legal advice or document preparation is needed, work with a licensed attorney.
How do I get started with Fortis Planning?
Start with a conversation about your goals, family, property, and questions. Fortis Planning can help you understand the planning process and coordinate next steps. Schedule a complimentary consultation or contact the Fortis Planning team.
Getting Started
YOUR NEXT STEP
You don’t need to have everything figured out before we talk. Share what you want to protect, the questions you have about your planning options, or the decisions you’re trying to make. We’ll listen and help you identify a clear next step.
Estate planning education and coordination to help families protect what matters most.
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Fortis Planning, LLC provides estate planning education and coordination. We are not a law firm and do not provide legal, tax, accounting, or investment advice. Legal documents are prepared and reviewed by licensed attorneys in the applicable state. Consult qualified professionals about your individual circumstances.
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