Young families often think they have plenty of time before estate planning matters—but mistakes now can cause major headaches later. Here are the top pitfalls: Waiting too long: Accidents and illnesses don’t wait. Even in your 20s or 30s, having a will, trust, or powers of attorney in place protects your family. Not updating documents: Marriage, divorce, or a new child can make old documents outdated. Always review after big life events. Overlooking guardianship: If something happens to you,...

It’s a question most people don’t want to think about—but it’s critical: who makes medical decisions if you can’t? Without the right legal documents, hospitals and doctors may have to follow default state laws, which might not reflect your wishes. The key tool here is a medical directive (also called a living will) and a healthcare power of attorney (POA). Your medical directive lays out your preferences for treatments, interventions, and end-of-life care. A healthcare POA designates a...

When it comes to protecting your family, understanding the difference between a will and a trust is key. Take Mark, a Lake Oswego resident. He thought a will was enough until he learned his estate might have to go through probate — a lengthy, stressful legal process. By creating a revocable trust in addition to his will, Mark ensured that his assets, including his home, could pass smoothly to his family without court delays. Wills are straightforward: they specify how your assets are...