Estate planning warrants that after a person passes away, their assets are distributed in a manner, which is in line with their wishes. This might sound relatively easy to someone who is not familiar with the legal aspect of those dealings but it requires a professional to carry out the procedure successfully. With the assistance of a legally equipped Oklahoma estate-planning attorney, you can be provided with the right advice and become aware of all the implications that will come in association with your plans.
Handing over ownership of property or any other form of asset to the intended inheritor is one of the basic actions related to estate transfers. Modifying the ownership status from one person to another is the tip of the iceberg. There are many decisions regarding estate transfers that a planner might have to deal with:
- Heir planning, stating the intended beneficiaries
- A break up of the assets that need to be transferred to each receiver
- Nature of payment, one single amount or regular payments
- Timing of transfer, at time of death or at a particular age
- Actions related to any remaining funds or assets beyond the time frame
- The length of the disbursement payments, whether payments continue till funds last or are they limited to a time frame
The decisions mentioned above are only some of the query’s that might have to be answered and dealt with. There are certain estate-planning instruments that are used in this process. A will or a trust are two of these instruments and based on your preference, they can be set up by our Oklahoma estate planning attorneys depending on what you want to accomplish. Before we dive into formalizing these plans, we educate our clients so they can truly understand all the implications of using specific options in terms of tricky elements such as estate taxes.
Discuss your unique needs with an expert in the estate transfer field
An experienced team of Oklahoma estate planning attorneys is here to aid you in the process of planning the details of your estate’s disbursement. We provide unmatched convenience and assistance to fit our client’s needs. For more information on how Atkins and Markoff can help you through a smooth estate planning process, schedule a free case evaluation or contact us today.