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There is a popular misconception that a person doesn't need a will or estate plan until they reach old age. However, the truth is any adult—no matter how many or how few assets they own—should have an estate plan in place. 

3 Ways Estate Planning Is for Everyone 

You Deserve to Have a Say in How Your Estate Is Distributed

estatesEstate planning gives you the opportunity to ensure your property and assets are divided in the ways you desire most. If you were to die without a will or similar documents, probate courts would make this decision for you, and courts are bound to follow the regulations of your state's intestacy laws. This means your estate could be disbursed in ways you wouldn't necessarily want to people you may not necessarily want to inherit them. Estate planning allows you to make these crucial decisions.

2. Your End-of-Life Care Preferences Should Be Known

As much as we think we are invincible when we're young, we're not. A tragic accident or illness could put any one of us into the hospital and render us unable to make decisions for ourselves. In these situations, your next of kin will be charged with deciding what happens regarding your care. With an estate plan, like a living will, your wishes for end-of-life care are made known, and you can state exactly what you want to happen if you’re ever placed on life support or faced with a similar prognosis.

3. You Can Make Provisions for Your Children

Many younger parents have informal agreements with family members or friends about what would happen to the kids should the parents become unable to care for them. Estate plans make these informal arrangements formal. You can name who you want to be the guardians of your minor children, and if this order is needed, your preferences are plain and legally binding.

 

The lawyers at Stayton Law serve clients throughout Willamette Valley and Santiam Canyon, Oregon. Contact them directly by calling (503) 769-7741 or visiting the law office online to schedule a consultation with a will attorney. You can also connect with them on Facebook for updates. Don't wait to start preparing your estate plans; take care of your loved ones and your peace of mind today. 

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