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If you've investigated all of your options when it comes to planning for your estate after you pass away, odds are you've come across something called a living trust. While last will and testaments take care of many needs of most estates, the true work comes in the form of this effective legal entity. A living trust is vital to help your estate avoid the pressures and problems of something both your lawyer friends and friends in the government are very fond of as a great source of revenue: the probate courts. When an estate enters probate, it is typically subjected to doling out up to 10% of its total value in fees. Your family will be liable for estate taxes on top of that.
An Oregon living trust is the best way to ensure your most significant property is distributed quickly and easily after your passing. Why create a living trust if you already have a will? A living trust offers quite a few advantages, the biggest and most cost-saving of which is that it allows you, in most states, to avoid probate. Probate is a legal proceeding that the courts use to implement a will and can take anywhere from six months to three years to complete. Not only is time a factor when dealing with probate, frequently your heirs will need to hire a lawyer to get through the court proceedings.
Interested in forming an Oregon living trust? For more information on this money-saving estate planning device, check out LegalZoom's free, online legal library. If a living trust sounds right for your estate planning needs, form one in Oregon today by filling out our easy-to-follow online questionnaire. Let LegalZoom give you the confidence that comes with a future well planned.
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