Tulsa Wills & Trusts Attorney
A will or trust are legally-binding documents that are designed to execute your last wishes in regards to how you would like your property to be passed on after you have passed away. There is a key difference between the two: a will goes into effect after your death, while a trust can go into effect immediately upon its creation, at your death, or even some time afterwards. They also can have differences in regards to estate taxation and the probate process, so it is pivotal that you discuss your case with a Tulsa estate planning attorney as soon as possible for assistance with creating these documents.
At Richardson Richardson Boudreaux, PLLC, our team of experienced representatives are well-versed in estate planning law. We can help you navigate through the ever-changing complexities of the legal system to protect your assets, minimize the financial burden of your estate taxes on your loved ones, and fully prepare for their future after your passing. We wish to ensure that your wishes are properly followed, and we can help you create durable, highly-specific wills and trusts that will minimize the potential complications that may arise.
Find out more about wills and trusts by calling Richardson Richardson Boudreaux, PLLC today at (918) 347-6456 to schedule your initial consultation!
Creating a Will
A will covers all of your property that is exclusively in your name when you pass away. It does not include anything that is jointly held, or property that is placed into a trust. A will also allows you to legally indicate some of your wishes, including naming a guardian for any surviving children or specifying funeral arrangements (such as when or how you would like to be buried).
Creating a Trust
A trust’s biggest advantage is that it passes outside of the probate process, so its execution is not overseen by the court. This can save substantial headaches, confusion, and even money by avoiding time-consuming disputes. Also, unlike a will, a trust can remain private, ensuing privacy of finances or property transfer, whereas a will goes into the public record and can be accessed by anyone.
One disadvantage, however, is that the only property that can be included in a trust must be transferred to that trust, which means it must be placed into the trust’s name.
Whichever type of document you chose to use, be it a will, trust, or both, our attorneys can provide you with experienced and high-quality legal advice to ensure your best wishes will be looked after.
Contact Richardson Richardson Boudreaux, PLLC today for more information regarding wills and trusts!