Do I need a will if I have a trust?

Yes. Even with a living trust, you need a pour-over will to capture any assets that weren't transferred into your trust during your lifetime. Without one, those assets pass through Oregon's intestacy laws rather than according to your wishes.

What is the difference between a will and a living trust?

A will takes effect at death and must go through probate before assets are distributed. A living trust takes effect immediately, avoids probate, and allows for faster, private transfer of assets to your beneficiaries. Trusts also provide better protection for blended families and beneficiaries who are minors or have special needs.

How much does estate planning cost in Oregon?

Track Town Law offers flat-fee estate planning services in Oregon and Idaho. Fees vary based on the complexity of your plan — whether you need a simple will package, a full revocable living trust plan, or a more complex plan involving Medicaid planning or special needs considerations. Consultations are free.

Do I need an LLC for my small business in Oregon?

Most small business owners in Oregon benefit from forming an LLC. It separates your personal assets from business liabilities, can provide tax flexibility, and signals credibility to clients and vendors. The key is not just forming the LLC but setting it up correctly with an operating agreement, a dedicated bank account, and an EIN.

What does Medicaid planning involve?

Medicaid planning involves structuring your assets and income to qualify for Oregon Medicaid long-term care benefits while protecting as much of your estate as possible. This may involve Medicaid Asset Protection Trusts, spousal protection strategies, and coordinating with VA benefits if applicable. Planning works best when started at least five years before care is needed.

Can I work with Track Town Law if I don't live in Eugene?

Yes. Track Town Law is a fully virtual firm serving clients throughout Oregon and Idaho. All meetings are conducted by video or phone, and documents are signed electronically. You never need to come to an office.

What is Oregon's estate tax threshold?

Oregon imposes its own estate tax with a threshold of $1 million — significantly lower than the federal exemption of $15 million. This means many Oregon families who wouldn't owe federal estate tax may still owe Oregon estate tax. Proper planning with trusts and other strategies can reduce or eliminate this exposure.

How do I get started with Track Town Law?

Start with a free consultation. You can book online at tracktownlaw.com/book-now. Consultations are conducted by video or phone and typically last 30 to 45 minutes. There is no obligation and no charge for the initial meeting.

Introducing the Essentials Plan: The Estate Planning Basics Every Oregonian Should Have

Jul 22

Written By Jared Hight

A transfer-on-death deed keeps your home out of probate. But a lot of people who want one pause at the same question: "Is the deed alone really enough?" The Essentials Plan is the answer for anyone who wants the essential pieces of an estate plan handled — the house, the paperwork, and the what-ifs — without stepping all the way up to a trust.

A transfer-on-death deed is one of the best tools in Oregon estate planning. For a flat $500, including recording, it keeps your home out of probate and passes it directly to the person you choose. Plenty of people want exactly that, and for some of them, the deed alone is genuinely all they need.

But a lot of people hesitate at the same spot. They understand the deed handles the house — and then they start wondering about everything else. What about the bank accounts? What happens if I can't make my own decisions someday? What if something isn't covered by the deed? The deed solves one clear problem, and that clarity is exactly what makes people pause: they're not sure one document is a complete plan.

If that hesitation sounds familiar, the Essentials Plan is built for exactly it.

What the Essentials Plan Is

The Essentials Plan bundles the pieces most Oregonians actually need to have their estate in order:

A will. Your will directs everything the deed doesn't — your accounts, your personal property, your belongings — and names who's in charge of carrying out your wishes. It's the catch-all that makes sure nothing is left to Oregon's default rules to decide.

Powers of attorney and healthcare directives. A general durable power of attorney, a healthcare power of attorney, a HIPAA authorization, and an advance directive. These cover what happens if you're alive but can't manage your own affairs or make your own medical decisions — the part of planning people forget until it's urgent.

A transfer-on-death deed. An Oregon TOD deed, drafted and recorded, keeping your home out of probate and passing directly to your chosen beneficiary.

The Essentials Plan is $2,000 for an individual and $2,400 for a couple — one flat fee, everything included, far less than the cost of leaving any of it undone.

Why It's Called the Essentials Plan

The name is deliberate, and it's honest about what this is and isn't.

These are the essentials — the documents nearly every adult should have in place regardless of how much they own or how complicated their life is. A will so the state doesn't decide who gets your things. Powers of attorney so someone you trust can act for you if you can't. A deed so your home doesn't have to go through probate. Miss any one of them and you've left a real gap. The Essentials Plan closes all three.

For a great many people — those with a home, some accounts, and straightforward wishes — the essentials are the entire plan. There's nothing missing. It's complete.

But calling it the Essentials Plan is also a promise not to oversell it. This is not a trust, and it isn't designed to do everything a trust does. If your situation is more complex, the answer isn't to add pieces onto this plan — it's a different plan, built around a revocable living trust from the ground up. The Essentials Plan isn't a partial version of a bigger plan or a stepping stone you bolt a trust onto later. It's the complete, correct choice for a straightforward estate, and nothing more than that. We'd rather name it honestly than have you believe you've covered something you haven't.

Who the Essentials Plan Is Right For

The Essentials Plan is the right fit if you:

Own one home you want to keep out of probate
Have bank and investment accounts you can pass through beneficiary designations
Want your wishes directed clearly and your family spared unnecessary court process
Have a relatively straightforward situation — assets passing to a spouse, or to adult children in simple shares

For this person, the Essentials Plan does what they came for and closes the gaps the deed alone leaves open. No trust, no complexity, no wondering whether they've missed something. One flat fee, and the essentials are handled.

When You Need More Than the Essentials

The Essentials Plan is the right tool for a straightforward estate. It is not the right tool for everyone, and part of doing this honestly is telling you when to reach for something else entirely.

A revocable living trust is the better choice when your situation has more moving parts. As covered in the revocable living trust post, a trust keeps everything out of probate rather than just the house, manages your assets smoothly if you become incapacitated, and lets you control how and when your beneficiaries receive what you leave them. If you own more than one property, want to provide for a minor or a beneficiary with special needs, have a blended family, or want to stagger distributions rather than hand everything over outright, a trust is worth the investment.

Importantly, a trust isn't the Essentials Plan with extra pieces attached. It's a different plan — a new legal structure, with assets retitled into it and a will that works differently. If your life calls for a trust, you're not adding to the essentials; you're starting with a plan built for complexity from the outset. That's a good thing, and it's the right call for the people who need it. If you're not sure which describes you, that's exactly what a consultation is for — and I'll tell you honestly which one serves you, even when it's the less expensive one.

Why This Beats Doing Nothing

The most common Oregon estate plan is no plan at all. People mean to get to it, the deed feels like a big-enough step, or the whole thing feels overwhelming, so it stays on the to-do list.

The cost of that is real. Without a will, Oregon's intestacy laws decide who inherits your property, regardless of what you would have wanted. Without powers of attorney, your family may need a court-ordered guardianship or conservatorship to manage your affairs if you're incapacitated. Without a deed or other probate-avoidance tool, your home runs through the Oregon probate process — time, cost, and court oversight your family could have avoided.

The Essentials Plan exists to make the complete-enough option the easy option: one decision, one flat fee, and the essentials are genuinely handled.

Bottom Line

If you've been weighing a transfer-on-death deed and found yourself wondering whether the deed alone is enough, the Essentials Plan is the answer. It handles your home, directs everything else through a will, and covers incapacity with powers of attorney — the essential pieces of an Oregon estate plan, for a flat $2,000 individual or $2,400 for a couple.

It won't do everything a trust does, and it isn't meant to. But for the right person, the essentials are exactly what they need — and it beats the most common plan of all, which is no plan at all.

You can still get just the transfer-on-death deed for $500 if that's genuinely all you need. If you want the essentials handled, the Essentials Plan is ready. Schedule a free consultation to find out which fits your situation.

This post is for general informational purposes only and does not constitute legal advice. Estate planning is specific to individual circumstances. Contact a licensed Oregon estate planning attorney to determine which plan fits your situation.

Jared Hight https://www.tracktownlaw.com