Understanding Your Estate Planning Options
Hi, I’m Oklahoma Attorney Meg Prestidge and I want to talk to you today about the last will and testament for an individual versus entering into a trust for estate planning purposes. The difference between a will and a trust is in your will, you name your heirs and who you want to be the executor of your estate. At your death, they will file a probate for your estate and submit a copy or the original of the will.
One issue that a lot of people face is the desire to keep their private assets out of the public eye. When a will is probated, it becomes a public record, which means anyone can access the details of your estate. Additionally, family members may contest various portions of the will, potentially leading to a lengthy and expensive legal battle that diminishes the inheritance intended for your loved ones.
The Pros and Cons of Wills and Trusts
Many individuals choose a will because they believe they do not have adequate assets to justify the expense of preparing a trust. Wills are certainly satisfactory for many situations, but they come with their own set of challenges. For instance, there are different kinds of wills, and I often get asked whether holographic wills are valid in Oklahoma. Under certain circumstances, yes, they are valid, and I will discuss that in a later video.
If you want to discuss anything regarding estate planning or your options, please feel free to reach out to me. Having a knowledgeable attorney on your side can make a significant difference in how your estate is planned and executed.
Get a Low-Cost Estate Plan Consultation Today
Don’t leave your Oklahoma City estate planning to chance. Call me at (405) 888-5400 for a consultation to discuss your options and ensure that your wishes are honored without unnecessary complications. Your peace of mind is just a phone call away!
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