Wills

WILL AS AN ESTATE PLANNING TOOL IN SOUTHERN OREGON

Lawyer with client — Attorney in Medford, OR
A will is a legal document wherein you can state who should receive your property at the time of your death, the beneficiaries), and who should be in charge of the management of your property at the time of your death, (the personal representative). Your will can also state that the personal representative may serve without bond, meaning that they will not need to obtain a bond to secure performance of their duties. As stated above, the will will need to be presented to the state court for probate in order to transfer title of the assets from the deceased individual to the beneficiaries. See Probate Section.

In addition to the will, you should have a document referred to as a Power of Attorney. The Power of Attorney allows you to name an individual, called your Attorney in Fact, to step into your shoes to make financial decisions on your behalf. This power should only be given to an individual in whom you have an extremely high trust level. Most people intend for the Power of Attorney to be used only in the event of their disability or incompetency. However, since the individual can legally act on your behalf at any time you should be 
Lawyer with client — Attorney in Medford, OR
A will is a legal document wherein you can state who should receive your property at the time of your death, the beneficiaries), and who should be in charge of the management of your property at the time of your death, (the personal representative). Your will can also state that the personal representative may serve without bond, meaning that they will not need to obtain a bond to secure performance of their duties. As stated above, the will will need to be presented to the state court for probate in order to transfer title of the assets from the deceased individual to the beneficiaries. See Probate Section.

In addition to the will, you should have a document referred to as a Power of Attorney. The Power of Attorney allows you to name an individual, called your Attorney in Fact, to step into your shoes to make financial decisions on your behalf. This power should only be given to an individual in whom you have an extremely high trust level. Most people intend for the Power of Attorney to be used only in the event of their disability or incompetency. However, since the individual can legally act on your behalf at any time you should be very careful in choosing this person. A Power of Attorney is valid only while you are alive and at your death can no longer be used to manage your affairs. The probate process then needs to be initiated. 
very careful in choosing this person. A Power of Attorney is valid only while you are alive and at your death can no longer be used to manage your affairs. The probate process then needs to be initiated. 

The last piece of your basic estate plan is the medical Advance Directive. The Advance Directive allows you to appoint a representative and an alternate to make medical decisions for you in the event you can not speak for yourself. It can also empower your representative to make end of life decisions on your behalf with the support of two physicians.
The last piece of your basic estate plan is the medical Advance Directive. The Advance Directive allows you to appoint a representative and an alternate to make medical decisions for you in the event you can not speak for yourself. It can also empower your representative to make end of life decisions on your behalf with the support of two physicians.
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