Preserve Assets For Loved Ones And Charitable Organizations
Wills and trusts are powerful tools that allow individuals and families to pass on assets to loved ones or charitable organizations. With skilled legal guidance, you can leverage these options, to round out your estate plan and enjoy peace of mind that your loved ones will be financially cared for after you are gone.
At the law offices of David W. Smith II PLLC, David Smith will help you understand your options for a last will and testament, revocable trusts and irrevocable trusts, including how these documents can benefit your specific situation. Throughout the estate planning process, he will be available with answers and information to make you feel that you are in control.
What Can You Do With A Will?
A will is an important document that serves many purposes. You can make your final wishes known to your family and other loved ones. You can specify legal guardians for minor children in the event you and the other parent are deceased. Using powers of attorney, you can choose someone to make decisions about your finances and assets if you are incapacitated. With a health care power of attorney, you can name someone to make decisions about your health and medical care. A living will/advance directive allows you to specify your end-of-life decisions regarding the medical care you receive.
Having a will and powers of attorney can reduce the possibility of family disputes over your care and your assets. Learn more about this by contacting the firm today.
Reasons To Create A Trust
Asset protection and avoiding taxes — Trusts can be used to structure your assets to protect them as much as possible from costly estate taxes.
Special needs — If you are a primary care giver of a special needs individual, or simply wish to financially provide for a special needs person, trusts allow you to dictate exactly how much will be left and how it will be dispensed for the individual’s care.
Protecting minors — If you have underage children, a trust can provide peace of mind that the minor will be financially provided for, should something happen to you and your spouse. A trust will allow you to name an executor who will oversee the distribution of the money on the terms that you have laid out.
Avoiding probate — Trusts are used by many people to structure their estate in a manner that will save loved ones the strain and cost of going through probate.
Prepared To Help You Protect Your Future And Your Family
For more information about integrating wills, trusts or other documents in your estate plan, call Oklahoma City attorney David W. Smith II at 405-400-9244 or send a message online using the form on this website. Initial 30-minute phone consultations are free. You can meet by phone or by using videoconferencing. Evening appointments are available by request.