Estate planning is the putting together of a financial strategy ensuring that the money and property you've accumulated after years of hard work will remain intact to help you through your retirement years and eventually be passed on to your beneficiaries. A well-written estate plan will reduce costs and taxes you have to pay pertaining to your savings and property. Without an estate plan in place, an illness or injury to you or a loved one, loss of job or other major expense could lead to you losing your money and property. Putting together an estate plan requires an attorney who can analyze your financial circumstances in depth and who has a tremendous understanding of state and federal laws.
At the Law Offices of Josh Copeland in Cleveland County, we can put together an estate plan for you that will avoid tax issues and unnecessary costs. Lawyer Josh Copeland can put together a strategy designed to protect you and your family. Josh will also revisit the estate plan with you if a life-changing event such as a marriage or the birth of a child occurs.
What Is Contained Within An Estate Plan
At a minimum, everyone concerned about his or her own legacy and the assets he or she wishes to have passed on to his or her children will want to have prepared:
- A will
- Revocable trust
- Durable power of attorney
- An advance directive for health care — also known as a living will
These documents need to be drafted with care as mistakes can be costly. The Law Offices of Josh Copeland has routinely prepared such documents for hundreds of clients. Josh can carefully draft a will or trust that is in compliance with all Oklahoma laws and clearly expresses your intent as to how your estate is to be distributed and used.
As many of us have a number of other financial concerns, additional estate planning tools can be prepared as well. This can include irrevocable trusts, irrevocable life insurance trusts (ILITs), qualified terminable interest property (QTIP) trusts and family limited partnerships. Whether such documents need to be prepared is dependent upon your individual needs.
If you have questions about preserving your wealth, call our Norman offices at 405-701-9281 or complete the firm's intake form so that we can meet with you.