Estate Planning Attorney

Estate Planning Lawyer

REVOCABLE TRUST or Revocable Living Trust. This is one of the most vital elements of Client-Centered Estate Planning. A revocable living trust can be easily transformed throughout your life. You retain total control of the properties and all of the assets in the trust. Your Impairment Trustee gives continuity in taking care of your affairs as well as family members if you become handicapped. Upon your passing, your death trustee takes over and your estate should hopefully avoid any legal entanglements.

Appropriate Estate planning is for everybody. Incapacitation is not on a schedule. It can unfortunately happen to anyone. Oklahoma Estate planning has to do with making certain YOUR dreams are adhered to.

"While I am living I wish to control my things. If I come to be impaired I want to take care of myself as well as my loved ones. I want to offer what I desire, to whom I desire when I desire."

We know that each individual and also household is one-of-a-kind. That is why we require time as attorneys, at the start of each partnership, to sit down and get with you concerning your objectives and dreams. As well as, to very carefully listen to your fears. We provide each customer with individual representation and individual consideration.

Trust Lawyer

Trust Lawyer

You also get to decide on who gets your assets. Children do not have a statutory right to inherit from you if you do not want. A lot of children are under the mistaken belief that their parents MUST give them an inheritance. NOT TRUE.

A parent can give their estate to whoever they want to. In most states, they must specifically state that they are disinheriting their children, but they can give their money to anyone. As people age, they start to see that their children are going to be ok. The children have developed good financial habits and might not need any more money. That is where grandchildren come in.

Instead of giving money to children, we have started to see money going to fund college for grandchildren. Children might not necessarily be happy but if they have been smart, then they probably do not need any more financial help as hard as that might be to swallow.

Trust Funding Lawyer

One of the most important items to take care of is funding your revocable trust. It does no good to spend thousands of dollars and countless hours creating the perfect estate plan, and then not properly fund it.

Funding a trust is simply the process of changing the title of your assets to the name of your trust. It sounds simple, but this is the one thing most people forget. When an asset is not titled in the name of the Trust, then it must be a probate. This usually costs the estate money that is completely unnecessary.

It is usually small bank accounts or rental homes. But, it does not matter. If the title is not correct, then there must be probate.

Trust Funding Lawyer
Trust Funding

Trust Funding

When children receive an inheritance is completely up to you. Parents know their kids better than anyone else. If one of your children is horrible with money, then it is probably a good idea for them to receive their inheritance over several years. Maybe they never receive a lump sum - only living expenses carefully paid out by a trustee of your choosing.

On the other hand, you might have a child who is a money guru or at least very financially responsible. If that is the case, then it might be better for them to receive a lump sum and let them handle the investing. In either case, it is your money and 100% completely up to you.

Estate Planning Lawyer Oklahoma City

People think, a lot of the time, that estate planning is only for the wealthy. Estate planning is for anyone who wants to make certain that they are taken care of during their lifetime and that their family is taken care of after they die.

Most are very surprised at how much time is spent on incapacity planning. Unfortunately, chances are high that many people will become incapacitated at some point in their life even if it is just for a short period of time. There needs to be a plan in place to take care of you.

People are also naturally scared of the unknown. An estate planning lawyer can give you options and talk to you about scenarios you have probably never thought of. Most estate lawyers offer a free initial consultation. However, even if they charge, then the hourly rate could be well worth it to see what your options are to move forward with a well-crafted estate plan.

Trust Funding Lawyer

Revocable Living Trust

The best thing to do if you are even just thinking about an estate plan is to JUST START.

We hear that about a lot of things, but it is absolutely true. Start watching videos on YouTube or reading books and articles on estate planning.

You will soon realize that is not as scary as you think and that a well-crafted estate plan will PROTECT you now and in the future.

Get started today!

Revocable Living Trust