October is National Estate Planning Month: Why Salem Families Should Review Their Plans
October is National Estate Planning Month—a timely reminder for individuals and families in Salem and across Oregon to revisit and refresh their estate plans. Many people create an estate plan once and assume it will last forever. But life changes quickly, and an outdated estate plan can cause unnecessary complications or fail to reflect your true wishes.
At Working Class Legal Services, we know how important it is for everyday Oregonians to protect their families and their futures. Below are seven key reasons to review and update your estate plan today.
1. Health Issues
Health can change unexpectedly—for you or your loved ones. Updating healthcare directives, living wills, or powers of attorney ensures that your medical and legal wishes are honored if you are unable to make decisions yourself. An estate planning attorney in Salem, Oregon can help ensure these documents remain valid and enforceable.
2. Relocation
Moving to a new state—such as relocating to Oregon—can affect your estate plan due to differing laws and regulations. Reviewing your plan with a Salem estate planning lawyer helps ensure your documents comply with Oregon’s specific requirements.
3. Life Events
Major life events such as marriage, divorce, childbirth, adoption, or the passing of a loved one can significantly affect how your assets should be distributed. Each of these milestones is a crucial moment to update your estate plan.
4. Tax Law Updates
Both federal and Oregon state tax laws change over time. These updates may create new obligations or opportunities for your estate. Working with an estate planning lawyer in Salem can help safeguard your assets and optimize your strategy.
5. Beneficiaries
Relationships and intentions evolve. It’s important to review your list of beneficiaries to confirm that the people you’ve named still reflect your current wishes. Without updates, outdated beneficiary designations can lead to conflict or unintended results.
6. Financial Changes
Changes in your financial situation—such as starting a business, receiving a promotion, purchasing property, or significant investments—should prompt an estate plan review. A Salem, Oregon estate planning attorney can ensure your plan keeps pace with your financial growth.
7. Regular Reviews
Even if no major changes occur, experts recommend reviewing your estate plan every three to five years. Regular reviews help keep your documents accurate, legally compliant, and reflective of your current circumstances.
Take the Next Step in Protecting Your Family
Updating your estate plan doesn’t have to be overwhelming. The peace of mind that comes from knowing your wishes will be honored is invaluable.
If you’re ready to review your estate plan this National Estate Planning Month, Working Class Legal Services in Salem is here to help. As a solo practitioner, attorney [Name] provides personalized, affordable guidance tailored to the needs of Oregon families.
Schedule a consultation today with a trusted Salem estate planning attorney and take control of your future.