Wills, Probate and Inheritance
One of the most important things you can do for your family is prepare for the future. Having the right estate planning documents in place can protect your family from having to go to probate and will also ensure that your wishes are met concerning your assets. Additionally, using the proper estate planning tools will allow you to reduce tax burdens for yourself now and your family in the future.
What Is Probate?
Probate is a legal proceeding where assets are distributed to remaining family members after the death of a loved one. In most cases, this type of proceeding is used to distribute non-titled assets and those that have not been properly accounted for with assigned beneficiaries or through a Will. All sizes of estates are subject to this type of legal proceeding.
Having the court decide who is going to receive your assets and how they are going to be divided can be a very prolonged legal action. The court has to establish relationships and family ties, seek out potential missing relatives, account for all the assets, and verify that all debts have been paid before distributing what is left. This is also a very costly process. The estate will be required to pay all court related costs and any associated attorney fees.
Avoid The Hassle With Proper Estate Planning
You can avoid all of the problems associated with having the court distribute your assets by being prepared. Working with a Tulsa estate planning attorney will allow you to create all the necessary legal documents to protect your assets now and in the future.
Your Tulsa estate planning attorney will also help you complete important legal documents to protect your rights asw an individual, such as health care directives and powers of attorney. Each of these documents protect you as well as your family.
Thinking about the future can be difficult. However, planning for the future and knowing that your family is well cared for and your wishes have been met will give you peace of mind.