While you may not want to think about a future without you, your family needs you to. Estate planning is the only legally-binding way to ensure that your family can follow your wishes regarding lifesaving medical treatment and property distribution after you pass away. Greer and Tarvin provide estate planning assistance in the following areas.
Wills combine simplicity with clarity and are one of the most commonly used estate planning tools. When properly structured, a will can automatically adjust for life events such as new children in the family or a loved one passing away unexpectedly. While you can legally create a will on your own, it’s a good idea to work with a lawyer to help you avoid any mistakes that could invalidate it.
Trusts are special estate planning tools that help your family avoid the probate process and may reduce taxes. Instead of holding assets in your own name, you shift them into a trust for your benefit. You also designate a beneficiary who will automatically receive the assets held by the trust upon your passing.
Estate planning isn’t one size fits all. One of the most important considerations is how your estate will be taxed. This varies based on your total wealth, what types of assets you have, and what states or countries those assets are held in. We can help you find the right steps to take to prevent your wealth from being eaten away by taxes so that more can go to your family.
Living Wills and Durable Power of Attorney
Decisions over whether a loved one would want to be kept on life support have torn families apart. In other cases, doctors weren’t legally allowed to follow the family’s instructions even though the entire family agreed. A living will make your medical wishes both clear and legally enforceable. You may also want to create a durable power of attorney so that a family member can manage your finances if you are unable to do so on your own.
Probate is the legal name for the process of executing a will and managing a loved one’s estate. We can help guide you through that process including walking you through the court procedures and helping you resolve any problems with or challenges to the will.
Contact Greer and Tarvin, PLLC today to schedule a consultation with an experienced Rogers County, OK estate planning attorney.