{"id":37657,"date":"2023-05-28T09:30:14","date_gmt":"2023-05-28T16:30:14","guid":{"rendered":"https:\/\/pdxlegal.com\/?page_id=37657"},"modified":"2023-07-18T22:50:08","modified_gmt":"2023-07-19T05:50:08","slug":"testamentary-trust-will","status":"publish","type":"page","link":"https:\/\/pdxlegal.com\/estate-planning\/wills-attorney\/testamentary-trust-will\/","title":{"rendered":"Testamentary Trust Will Attorney in Portland OR"},"content":{"rendered":"
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Secure Your Legacy with a Trustworthy Testamentary Trust Will Attorney in Portland, OR<\/h2>\n

Are you worried about how your assets will be distributed after your passing? Do you want to ensure that your loved ones are taken care of according to your wishes? Creating a testamentary trust will can help safeguard your legacy. But navigating the legal intricacies of such a document can be daunting, which is why you need the help of a trusted testamentary trust will attorney in Portland, OR.<\/p>\n

At Michael D. O’Brien & Associates, P.C., we specialize in estate planning<\/a> and can guide you through the process of creating a testamentary trust will that accurately reflects your wishes. With years of experience in the field, our team has the knowledge and experience needed to help you create a legally sound document that will protect your assets and provide for your loved ones.<\/p>\n

Don’t leave the fate of your assets and loved ones to chance. Contact Michael D. O’Brien & Associates, P.C. today and schedule a consultation with our trusted testamentary trust will attorney in Portland, OR. Let us help you secure your legacy for generations to come.<\/p>\n

What is a Testamentary Trust Will?<\/h2>\n

A testamentary trust will is a legal document that establishes one or more discretionary trusts on your death, or on the death of your spouse or partner. It is essentially a will and a discretionary trust deed combined into one document<\/b>.<\/p>\n

In a testamentary trust will, you can specify the assets from your estate that are to be transferred into the separate testamentary trusts created by your will<\/a>. You can also designate who is to be the trustee of each trust, meaning the person or persons who hold the assets of the particular trust, earn income on them, get annual tax returns lodged, and decide which of the beneficiaries are to receive income and\/or capital from the trust.<\/p>\n

A testamentary trust will is a useful tool for managing and distributing your assets after your death while providing for the needs of your beneficiaries. It is a complex legal document that requires the assistance of an experienced attorney to draft and execute properly. A testamentary trust will attorney in Portland, OR, such as Michael D. O’Brien & Associates, P.C., can help ensure that your testamentary trust will meets your needs and achieves your goals. Schedule an appointment for a free consultation now.<\/p>\n

Top Reasons to Consider a Testamentary Trust Will for Your Estate Planning<\/h2>\n

A testamentary trust will offers several advantages that may make it a desirable option for your estate planning. Here are some reasons why you might want to consider a testamentary trust will:<\/p>\n

Asset Protection and Management <\/b><\/h3>\n

A testamentary trust will allows you to protect and manage your assets even after your passing. By creating trusts within the will, you can establish a structure that safeguards your assets from potential risks, such as creditors or mismanagement.<\/p>\n

Control Over Asset Distribution <\/b><\/h3>\n

With a testamentary trust will, you have precise control over how your assets will be distributed among your chosen beneficiaries. You can outline specific conditions, such as age milestones or educational achievements, for beneficiaries to receive their inheritance. This control ensures that your assets are distributed in line with your intentions and values.<\/p>\n

Tax Planning and Optimization <\/b><\/h3>\n

Testamentary trusts can offer tax benefits by allowing for income splitting among beneficiaries, potentially reducing the overall tax liability. By incorporating tax planning strategies into your testamentary trust will, you can optimize the distribution of assets and minimize tax obligations.<\/p>\n

Protection for Beneficiaries <\/b><\/h3>\n

If you have concerns about beneficiaries’ ability to manage their inheritance responsibly, a testamentary trust will can provide a level of protection. The appointed trustees can oversee the management of trust assets and make decisions regarding distributions, ensuring that beneficiaries receive ongoing financial support while maintaining asset protection.<\/p>\n

Privacy and Probate Avoidance <\/b><\/h3>\n

Unlike assets transferred through a traditional will, assets held within testamentary trusts may bypass the probate process, providing privacy and potentially reducing costs and delays associated with probate proceedings.<\/p>\n

Consulting with a knowledgeable testamentary trust will attorney in Portland, OR, such as Michael D. O’Brien & Associates, P.C., can help you understand the specific benefits of a testamentary trust will and how it can align with your estate planning goals.<\/p>\n

Who Can Be a Trustee of a Testamentary Trust Will in Oregon?<\/h2>\n

In Oregon, the trustee of a testamentary trust will can be any individual or entity that meets the legal requirements and is capable of fulfilling the responsibilities associated with the role. Generally, the following individuals or entities can serve as trustees:<\/p>\n