Estate Planning
Most people assume estate planning is only for the wealthy, but people of all backgrounds can benefit from having a well thought out estate plan. The estate planning process involves the counsel laying out your goals and concerns, outlining your assets and how they are owned, and detailing your family structure. Estate planning can be a complex process and can include the services of various professionals, including your lawyer. Estate planning covers the transfer of property at death, whether through a will, trust, beneficiary designation, or other means. It can also involve asset protection strategies to keep your assets out of the hands of creditors or predators. And it can provide for the care of minor children or disabled adults if something happens to you. With strategic planning, you can ensure that your assets will be transferred according to your preferences if something happens to you.
An estate planning attorney can assist you with the following tasks:
Some of the primary benefits of working with an estate planning attorney include:
Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death. A major concern for drafters of estate plans is federal and state tax law.
An estate is the total property, real and personal, owned by an individual prior to distribution through a trust or will. Real property is real estate and personal property includes everything else, for example cars, household items, and bank accounts. Estate planning distributes the real and personal property to an individual's heirs.
Wills and trusts are common ways in which individuals dispose of their wealth. (See Estates and Trusts). Trusts, unlike wills, have the benefit of avoiding probate, a lengthy and costly legal process that oversees the transfer of assets. Sometimes, though, it will be useful to make inter vivos gifts (gifts made while the donor is alive) to minimize taxes. The Federal Gift Tax exempts certain levels of lifetime gifts.
An estate planning attorney can assist you with the following tasks:
- Creating a will
- Designating your beneficiaries
- Establishing a durable power of attorney and medical durable power of attorney
- Finding ways to reduce and avoid estate tax when possible
- Finding ways to avoid the probate court process
- Setting up any trusts you might need to protect your assets, both for your own benefit during your lifetime in the event of incapacity and for the benefit of your beneficiaries after your death.
Some of the primary benefits of working with an estate planning attorney include:
- Creating an individualized plan based on your specific needs and offering you the most valuable legal advice for your situation
- Working with an experienced attorney who is knowledgeable about current estate planning laws in your state, ensuring that the decisions you make will be made in accordance with the law and are legally enforceable
- Access to a specialist who can serve as a resource for questions, concerns, changes, and updates to your will and trust
Estate planning is the process by which an individual or family arranges the transfer of assets in anticipation of death. An estate plan aims to preserve the maximum amount of wealth possible for the intended beneficiaries and flexibility for the individual prior to death. A major concern for drafters of estate plans is federal and state tax law.
An estate is the total property, real and personal, owned by an individual prior to distribution through a trust or will. Real property is real estate and personal property includes everything else, for example cars, household items, and bank accounts. Estate planning distributes the real and personal property to an individual's heirs.
Wills and trusts are common ways in which individuals dispose of their wealth. (See Estates and Trusts). Trusts, unlike wills, have the benefit of avoiding probate, a lengthy and costly legal process that oversees the transfer of assets. Sometimes, though, it will be useful to make inter vivos gifts (gifts made while the donor is alive) to minimize taxes. The Federal Gift Tax exempts certain levels of lifetime gifts.
Schedule a Consultation in Ponca City or Stillwater, Oklahoma
During your initial consultation, your attorney will:
- Listen to your story and find out what is most important to you in the outcome.
- Answer any questions you may have, including the legal process, our law firm, and legal fees.
- Identify additional documents, information, or research that you may need.
- Inform you of your legal rights under the law.
- Discuss possibilities regarding potential time frames and outcomes of your case.
- Advise you on important steps to take now whether or not you are ready to take legal action.
- Provide information regarding retainers, attorneys fees, and costs.
Legal Representation That Understands Your Needs
Your expectations as a client are high, and we take that very seriously. We promise to deliver exceptional customer service and comprehensive legal advice from our team. We understand that flexibility is needed to solve real-world problems and get you back to business. This client-centered approach ensures efficient, cost-effective, innovative solutions. The collective expertise of Holmes, Yates and Johnson attorneys defines our clients’ experience. When clients work with Homes, Yates and Johnson, they will have a single point of contact throughout the entirety of the case. Our clients can rest assured knowing they will benefit from our collaborative, cross-firm approach to case management. Together, our attorneys bring their cumulative wisdom and expertise to counsel clients in matters ranging from criminal cases to protecting and defending our clients through litigation, subrogation, and tort defense. Read our attorney bios here.
After your initial meeting
Whether clients decide to take legal action or not, most feel very relieved and satisfied when they have information necessary to protect themselves in the present and to make important decisions for their futures. The attorneys at Holmes, Yates and Johnson Law have devoted their time and resources to local communities throughout Oklahoma and Kansas. Our lawyers have extensive experience in all types of cases and are committed to getting you the best possible outcome for your case. We understand the physical, emotional, and financial toll that an injury can take on a victim and their family, and we will work tirelessly to get you the compensation you deserve. If you or a loved one has been injured, contact us today for a free consultation. We serve clients in Oklahoma, Kansas, and Missouri and the surrounding areas.
