January 2015 Archives

What are the advantages of creating a will?

Life is full of uncertainties. This is the reason why people in Norman, Oklahoma, are becoming more interested in estate planning in an effort to protect the property and assets they have accumulated throughout the years. Another benefit of estate planning is to keep the family intact through detailed instructions on how property and assets are going to be divided among beneficiaries. Readers may be interested to learn more about wills, which have been tackled in an earlier blog post.

Things that may help single parents plan an estate

Parents have a natural instinct to protect their children - and some parents may already be thinking about the well-being of their children if they were to die unexpectedly. Drafting a will, appointing a guardian and setting up a living trust can all help ensure a decedent's children are well taken care of, but for single parents, planning an estate can be much different than it is for parents who are married.

What is the difference between a trust and a will?

While many people don't like to think about end-of-life planning, it's one of those tasks where it's better to be well-prepared, than not prepared at all. The probate process ensures that a decedent's creditors are paid and that assets are distributed accordingly - and creating a will and a trust can make it easier for the loved ones a decedent leaves behind.

Avoiding easy mistakes when creating a trust in Oklahoma

While creating a trust can be an effective estate planning technique, the best efforts of an individual could be for naught if the trust is not created properly. If assets are not titled in the name of the trust, those assets may need to go through the probate process. This process may be costly and is public, which may invite extra, potentially unwanted, scrutiny.

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