There is an old expression, that nothing can be said to be certain, except death and taxes. It is uncomfortable to contemplate of one’s own death, but it is even more difficult on your heirs if you have not done any estate planning.
Each person’s will is a testimony of the values held by that individual. It speaks of love and thoughtfulness as well as of careful planning. If there is no will, the state must fill the void with a formula that may not provide for your loved ones as you wish, and may also convey far less than the loving legacy that you want to leave behind. Also, without a will, Oregon presumes you wanted 25% of your estate to go to the State. A will allows you to decide who will manage your money and other property after you die, and how it will be distributed. It lets your wishes be heard regarding the care of minor and disabled children. It often prevents disputes among your relatives. In a large estate, a will can also reduce the amount of taxes that may be due at your death.