Merkel and Conner
Oregon Elder Law Attorneys
Wills
What is a Will?
A will is a legal document that states how you want your money, property, and personal belongings to be distributed after you pass away. It also allows the person (called the testator) to name a personal representative (or executor) to handle their estate and, if needed, to appoint a guardian for minor children.
The Advantages of Having a Will
Without a will, state law decides who inherits your property. Creating a Will gives you control over how your estate is distributed among your loved ones, including family, friends, and charitable organizations.
It can help prevent disputes among heirs, streamline the transfer of property, and reduce administrative delays and expenses. For instance, without a Will stating that your personal representative should serve without bond, the court may require a bond to be posted—an additional cost to the estate.
A Will also allows you to name a trusted personal representative to manage your estate, and, if needed, appoint a guardian or conservator to care for your minor children and oversee their inheritance until they reach adulthood.
Appointing a Personal Representative
A personal representative (also known as an executor) is the individual or institution responsible for administering your estate through the probate process. This includes collecting your assets, paying valid debts and expenses, and distributing the remaining property to your named beneficiaries.
You may appoint a trusted friend or family member to serve in this role. Ideally, the person you choose should be organized, responsible, and comfortable handling financial matters and keeping accurate records. For larger or more complex estates—or if you prefer not to burden a loved one—you may consider appointing a professional fiduciary, such as a bank or trust company, to ensure experienced and impartial management of your estate.
Appointing a Guardian
If you have children under the age of 18, it is essential to name a guardian in your Will. Without this appointment, if both parents pass away, the court will decide who will care for your children and manage their inheritance—potentially without insight into your values or preferences.
Through your Will, you can also establish a trust to manage and protect the assets left to your children until they reach adulthood. At Merkel and Conner, we can guide you through the process of choosing the right guardian and structuring an estate plan that reflects your wishes and safeguards your children’s future.
Trusts
What is a Trust?
A trust is a legal arrangement that allows you to transfer ownership of your assets to the trust, to be managed by the trustee, for the benefit of the beneficiary.
Think of a trust as a legal container, often referred to as a “bucket.” The bucket holds your assets, and it comes with a set of rules (the trust’s provisions) that the trustee is legally required to follow when managing and distributing those assets. The trustee only has authority over the assets that are placed inside the bucket. If an asset is not properly transferred into the trust—meaning it's not held within the bucket—the trustee has no legal authority to manage or distribute that asset according to the trust’s terms.
Advantages of a Trust
A trust can serve several important functions in your estate plan:
Avoid Probate – Assets held in a trust do not go through the probate process, making the administration of your estate more efficient, private, and less burdensome for your loved ones.
Simplify Administration After Your Death - A properly funded trust can significantly streamline the administration of your estate. Unlike a Will, which requires court-supervised probate, a trust allows your successor trustee to manage and distribute assets privately, efficiently, and without court involvement.
Minor Children. You can place the inheritance of minor or young adults into trust to be managed by a trusted individual until they reach the age of maturity.
Control Distribution of Assets – A trust allows you to control how and when your assets are distributed, even after your death. This is especially helpful if you have beneficiaries who face challenges related to mental capacity or financial responsibility.
Protect Government Benefits – A trust can be structured to provide inheritances to beneficiaries who rely on government assistance—such as Supplemental Security Income (SSI) or Medicaid—without disqualifying them from receiving those benefits.
My estate isn’t very large, would a trust still be appropriate for me?
It’s a common misconception that trusts are only for the wealthy. In reality, a trust is one of the most effective tools in the estate planning toolbox because it offers the greatest flexibility and control.
Each asset you own may pass according to different rules—depending on how it’s titled, whether there are designated beneficiaries, or if it's held jointly with someone else. By placing most of your assets into a trust, you simplify the administration of your estate after your death. Your trustee will have access to all trust assets, which streamlines the process and avoids the delays and costs of probate.
For example, consider someone whose only two assets are a home and a bank account. If these assets must go through probate, the executor of the estate will not have immediate access to the bank funds. The court must first open the probate case and issue Letters of Administration, which can take approximately two months. During that time, the executor will be unable to access the decedent’s bank account and may be required to cover all end-of-life expenses, such as attorney fees, accountant fees, funeral costs, and court-required bond premiums and filing fees out of pocket.
If those assets had been placed in a trust, the executor (as successor trustee) would have had immediate access to the trust funds to pay necessary expenses and begin administration without delay or court involvement.
In short, a trust isn’t just about the value of your estate—it’s about making things as simple, efficient, and stress-free as possible for your loved ones after you’re gone.
Will creating a trust complicate my tax filings?
Please note: Our firm is not a tax advisory firm, and we do not provide tax advice. For guidance specific to your situation, we recommend consulting with your individual tax advisor or accountant.
That said, in general, the type of trust most clients establish is a Revocable Living Trust. While you are alive and have capacity, this type of trust is treated as a pass-through entity for tax purposes. This means:
The trust uses your Social Security Number as its Tax Identification Number (TIN).
All income, deductions, and other tax-related items from the trust are reported on your personal tax return.
The trust itself does not require a separate tax return during your lifetime, as long as it remains revocable and you have capacity.
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