Wills & Trusts
NOTE: Labels in bold are required.
Lawyers Offering Oklahoma Estate Planning Services
You've worked your whole life to build your property and other assets. Now take a moment to ensure that when you die, those assets will be passed along in accordance with your personal wishes.
At Armstrong & Lowe, P.C., in Tulsa, our knowledgeable estate planning attorneys can help you understand the consequences of wills, trusts and other estate planning documents so we can craft a plan that meets your needs. Contact us to schedule a free initial consultation.
Crafting a Smart Estate Plan for Your Assets
Our attorneys will help you sort out your financial affairs to ensure the maximum possible benefit for your heirs.
- A will sets out your wishes for the transfer of your property and appoints a personal representative (also known as an executor) to implement those wishes. It also names guardians for your minor children. If you pass along property and assets in your will, your estate will go through the court-supervised probate process.
- A living trust, also known as a revocable trust, is a device that allows you to avoid probate by placing your titled property into a separate legal entity overseen by a chosen trustee. The trust administration process may be faster, more flexible and more private than probate, and it may have tax planning advantages.
- A testamentary trust is a trust built into your will that goes into effect at the time of your death and allows a trustee to administer your property for the benefit of another person, such as a child or person with special needs.
- A family limited partnership is another kind of entity that can have tax planning advantages for people with significant personal wealth.
If you choose to pass along your property through a living trust or family limited partnership, you should have a "pour-over" will so that unanticipated circumstances can be handled in accordance with your wishes. We can also discuss other options, such as irrevocable trusts, that are beneficial in some cases.
Ensuring That Your Wishes Are Known
If you do not have a will or trust, you will have no say over whom a judge appoints to administer your estate, and your property will be distributed according to Oklahoma statutes.