Wills And Trusts: Crucial To Protect Your Loved Ones
Death is never a pleasant topic to think about. However, if you take the steps to make end-of-life arrangements today, it can go a long way to protecting your family tomorrow.
The attorneys at Lidia Law Firm, P.C., know firsthand the importance of planning your estate. We have worked with countless clients in the Edmond metro area to draft legally sound estate planning documents, including wills and trusts. When having an estate plan can mean the difference between providing for your beneficiaries’ futures or leaving your loved ones empty-handed, you need a legal team you can count on.
Why Use Trusts In An Estate Plan?
Both wills and trusts are invaluable tools in estate planning. But while wills may be more common, trusts are often disregarded or outright declined by many. The misconception that trusts are meant for only the very wealthy to pass on money to their children is inaccurate, however. You can use trusts for many functions, including:
- Preventing your assets from going through probate
- Reducing the impact of taxes on your estate
- Preventing creditors from hassling your beneficiaries
- Providing for a special-needs adult in your life
- Providing for a minor child in the event of their guardian’s death
To find out if a trust is right for you, speak to an attorney who can assess your circumstances today.
Use Your Estate Plan For Business Succession
If you own a business, it is equally important for you to plan for its future and consider how to pass it to your successors. An estate plan can help with this. By incorporating your estate planning tools into your business succession planning, you can secure the rights to your business for your children or anyone who might otherwise take over for you. This can ensure the successful transfer of the management and ownership of your business.
Learn How Estate Planning Can Protect Your Family
Whether you decide to draft a will, form a trust or require assistance with your business succession plan, trust us to help. Let us sit down with you to create an estate plan that preserves your assets for your loved ones should anything happen to you.