Tulsa Will And Trust Lawyer
Wills and Trusts are cornerstones of many estate plans. Both provide you with the ability to distribute the assets of your estate to beneficiaries as you see fit. The distribution of property under a Will and a Trust are quite different, however, and each one can provide certain benefits depending on your needs. A qualified Tulsa Will and Trust attorney can help you determine which is a better fit for your needs.
At the law office of Richard J. Borg, I offer my clients more than 30 years of experience as an Oklahoma estate planning lawyer. I conduct a thorough review of your estate and take the time to fully understand your goals with regard to the distribution of your assets. I will explain the differences between a Will and a Trust, and recommend the solution that best fits your needs.
Understanding The Differences Between Wills And Trusts
When you draft a Will, assets are distributed to beneficiaries according to your wishes. Your Will can also be used to address other issues such as choosing your executor and identifying the people you wish to care for your minor children.
Wills must go through the probate process. Probate proceedings are a matter of public record, meaning that anyone can see your Will, how property was distributed to your beneficiaries and any other information contained in it. While most probate judges will follow a Will as it is written, they do have discretion with regard to interpreting and enforcing its terms.
“Put not your trust in money, but put your money in trust.” – Oliver Wendell Holmes Sr.
Trusts allow you to distribute property in the same manner as a Last Will and Testament, but with considerably more control and privacy. As the person who establishes the Trust, often referred to as the grantor, you decide what property goes into the Trust, when and how the property is distributed and how it is used prior to distribution.
A trustee oversees the Trust until the property is distributed. With a Living Trust, you can serve as the trustee while you are alive and leave instructions for a new trustee to take over the Trust upon your passing. There are many different types of Trusts that can be used depending on your needs. I will help you determine the best type of Trust to create based on your stated objectives.
Contact An Attorney | Testamentary Trust, Living Trust And Will Preparation
Contact my office to discuss your questions about wills and trusts. I offer a free initial consultation to all new clients. I am available during regular business hours and by appointment at other times. Call 918-863-8920 or contact me via email to schedule an appointment.
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