Estate Planning Made Easy

Estate Planning is For Everyone 

Many people think estate planning is only for the wealthy. In reality, it’s not just about finances or assets—it’s about protecting the people, causes, and companions you care about most, including yourself. Whether you’re single, raising a family, or simply want to ease the burden on loved ones, creating a basic estate plan is one of the most thoughtful steps you can take. 
 
Here are five clear, practical steps to help you create a plan that reflects your values and evolves with your life.

1. Start with the Basics: A Will or Trust, Power of Attorney, and Medical Directives 

A will or trust forms the foundation of your estate plan. These documents allow you to control how your assets are distributed, who will manage your estate, and what should happen in case of incapacity or death. Without them, state law determines how your estate is handled—which may not reflect your intentions. 
 
But estate planning goes beyond passing on assets. Everyone should also have: 

• A Durable Power of Attorney. This authorizes someone you trust to manage your financial affairs if you’re unable to due to incapacity or illness.
• Medical Directive. A medical directive can directly communicate your wishes to your family as well as to doctors and alleviate others from second-guessing your wishes regarding your care and end-of-life preferences.  

Even a basic plan can go a long way in avoiding confusion, court involvement, and family disputes.

2. Protect Your Loved Ones, and Pets too!

Estate planning isn’t only about passing on assets—it’s also about making sure the people and animals you love are cared for if something happens to you. One of the most important (and often overlooked) steps is naming trusted individuals who can step in when you cannot. 

This includes designating someone to care for your loved ones, including dependents and aging parents, and planning for your pets, who rely on you completely. 

Oregon Humane Society’s Friends Forever^TM program offers peace of mind by providing lifelong care and rehoming for pets whose owners have passed away or become incapacitated. It’s a compassionate option for pet lovers who want to ensure their companions are never left without a plan.

3. Use of Beneficiary Designations

Some assets—like retirement accounts (IRAs, 401(k)s), life insurance policies, and certain bank accounts—are passed directly to named beneficiaries and don’t go through your will or trust. 
 
To avoid mistakes:

• Ensure beneficiary designations are up to date 
• Review them regularly, especially after major life changes like a long term illness, marriage, divorce, or birth. 

Charitable Tip: Naming a nonprofit, like the Oregon Humane Society, as a beneficiary of your IRA or 401(k) can be one of the most tax-efficient ways to give. Because nonprofits are exempt from income tax, 100% of your gift supports the cause—while reducing the tax burden on your estate or heirs. 

4.  Legacy Gifting is Not Just for Billionaires 

You don’t need great wealth to make a lasting difference. A legacy gift—large or small—can reflect your values and support the causes that matter most to you. 
 
Consider leaving a percentage of your estate or specific assets (like cash, investments, or real estate) to the Oregon Humane Society or another favorite nonprofit. If naming a charity in your plan, always include:

• The full legal name 
• The tax ID number (EIN) 

 For example, Oregon Humane Society’s EIN is 93-0386880. 
 
Pro Tip: Since the value of your assets change over time, consider leaving a percentage of your estate to account for changes in asset value over time rather than a set dollar amount.

5. Keep Your Plan Current

Estate plans aren’t “set it and forget it.” Life changes—and your plan should too. Common oversights include:

• Forgetting to update documents after a birth, death, marriage, or divorce 
• Not funding your trust properly 
• Overlooking digital assets or instructions for pet care 

Review your plan every few years, or whenever life takes a major turn, to ensure it still reflects your intentions.