Kingfisher & Stillwater Attorney Explains Trusts & Probate
If you are nearing the end of your life, then you may be considering estate
planning and how to go about ensuring that your wishes are carried out
for your estate. It is important that you understand your options, and
that you have any questions answered by a skilled representative. One
option that you have to carry out your desires is a trust. There are many
different types of trusts; however, for the purpose of estate planning,
you may benefit most from a living trust. This is an arrangement in which
the trustee will obtain and hold legal title for another person.
Estate Planning Benefits of Trusts
One of the major advantages of trusts is their flexibility in carrying
out more complex estate plans. A simple will may suffice for many people,
but a trust is often necessary in cases which call for more detailed and
nuanced plans for the distribution of assets. Furthermore, using a trust
as the central component of your estate plan can serve to markedly reduce
or the amount of tax liability owed by your estate upon your passing.
Trusts additionally have the power to shield the estate from the probate
process in most cases. There is no one-size-fits-all solution to estate
planning, but we recommend trusts for many of our clients as the most
effective approach to meeting their individual expectations. When you
bring your case to us, we will take the time to discuss your concerns
and your goals, to review your situation and determine whether a trust
will be the ideal estate planning instrument for you.
Certain types of trusts can also help with planning for estate taxes and
protecting your loved ones from losing the provisions that you intended
for them because of those taxes. However, because every estate is different,
the success of your estate planning depends on whether you choose the
right trust for your situation and whether it is established securely.
That is why it is advised to retain a
Kingfisher estate planning attorney to explain your different options and advise you on the best choice for
your individual situation.
Serving Kingfisher& Stillwater, Oklahoma Residents
If you are considering a living trust, or if you have questions regarding
your estate planning options, then you may greatly benefit from the assistance
that our firm can provide. We encourage you to take the first step by
contacting us for an initial
case evaluation so that we can review your legal options and provide you with an overview
of what to expect throughout the process. Our legal team is made up of
six full-time Kingfisher attorneys who have more than 90 years of combined
experience in handling various civil law matters.
Contact our office today for the representation that you need on your side.