It is never too early to start thinking about the future. While you may feel like you have plenty of time to make plans, you never know what the future holds. At David C. Fisher, P.C., we can't predict the future, but we can help you prepare for it. With thoughtful estate planning, you can secure your property and preserve your wealth for your retirement and future generations.
Almost everyone can benefit from estate planning. If you own property, own a business, or have assets you would like specific people to inherit, then you may benefit from speaking with our Tulsa-based estate planning lawyer. Backed by 18+ years in practice, our law firm is well-versed in all aspects of estate law. We are prepared to use our experience to help you.
Our Estate Planning Services
The number-one benefit of estate planning is maintaining control over your estate. Suppose you die without a will or trust in place. The state's probate courts will have the ultimate control over how your assets and property are divided and distributed. Your estate may also be subject to increased taxes and probate fees. To ensure that your wishes are known and adhered to, you should seek counsel from a trusted estate planning attorney, like ours in Tulsa.
We offer a comprehensive range of estate planning services, including:
- Business succession planning
- Health Care Directives
- Marital agreements, including pre- and post-nuptial agreements
- Powers of attorney
- Probate services
- Trust administration services
- Trusts, including irrevocable and revocable
- Wills, including pour-over wills
When considering which estate planning tools are right for you, you should first consider your immediate needs and long-term goals. Though it can be emotional, you must think about who you want to inherit your assets and property and how. You and your lawyer should also discuss your retirement needs and your health care wishes should you become incapacitated. This is also a good time to consider how you want any debts to be dealt with.
Wills vs. Trusts: Which Is Better?
There is no simple answer to this question. Estate law is a complex field, and there is no one-size-fits-all answer to estate planning. If you are just beginning with the estate planning process, wills are a good place to start. With a will, you can nominate an executor, name guardians for minor children or dependent adults, and identify how you want your property distributed.
While you can do a lot with wills, they do not offer the same protections from probate as trusts. There are many different types of trusts. The two primary categories of trusts are revocable and irrevocable. Revocable trusts can be modified and even abolished. Irrevocable trusts are more rigid, and the grantor of the trust cannot change it once it is put into effect. The main benefits of trusts are that they can help you avoid probate, and in doing so, they keep your estate private.
Types of trusts include:
- Charitable trusts
- Irrevocable life insurance trusts
- Living trusts
- Special needs trusts
It's important to remember that trusts do not render wills obsolete. Even if you transfer most of your assets and property into a living trust, you will still need a pour-over will to manage your remaining property. Pour-over wills are important for helping people avoid probate.
Get Started Today
Most people will utilize a selection of estate planning documents, all carefully curated to meet their specific needs. Whether you have a complicated situation or are finally ready to start drafting a will, David C. Fisher, P.C. is standing by to help. Over the years, we have seen how beneficial proper estate planning can be. If you are looking for a way to maintain control of your estate and ensure that your loved ones get the property and assets you have set aside for them, call our estate planning lawyer in Tulsa. We can guide you through the estate planning process and help you make these important legal decisions with confidence.
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