What is a Retirement Trust?
When planning for retirement, it’s important to consider all of your options for maximizing your savings and ensuring that your assets are distributed according to your wishes. One option to consider is a retirement trust. A retirement trust is a type of trust that is specifically designed to provide tax advantages similar to those of […]
Helping your Successor Trustee and Beneficiaries Prepare
How can you ensure that your estate plan will be administered according to your wishes? If the executor or successor trustee you have chosen is a family member or loved one, will that person be able to carry out the role of a fiduciary during a period of emotional stress or mourning? If you have […]
Special Guest on Probate Nation TV Show
Did you know that I was a special guest on 2 episodes of The Probate Nation TV Show? This show is dedicated to helping the public navigate the probate system for a deceased loved one’s estate and the “living probate” system for a conservatorship or guardianship of an elderly loved one. My guest episodes focused […]
7 Estate Planning Terms You Should Know
Estate planning is an incredibly important tool, not just for the extremely wealthy or those thinking about retirement. On the contrary, estate planning is something every adult should do. Estate planning can help you accomplish any number of goals, including appointing guardians for minor children, choosing healthcare agents to make decisions for you should you […]
What are Grantor Retained Annuity Trusts?
Have you heard of a grantor retained annuity trust (GRAT)? This type of trust is an efficient way to transfer asset appreciation to beneficiaries without using, or using a minimal amount, of your gift tax exemption. Here’s how it works: After the donor transfers property to the GRAT and until the expiration of the initial […]
Estate Planning Checklist for Multigenerational Oklahoma Wealth Transfers
Studies estimate that 70 percent of family wealth is lost by the end of the second generation and 90 percent by the end of the third generation. To help your loved ones avoid becoming part of this statistic, it is important to educate and update your extended family about your wealth transfer goals and the […]
2 Myths About Standalone Retirement Accounts
We recently heard 2 myths related to standalone retirement trusts that we would like to clarify. But first, what is a standalone retirement trust (or SRT)? It is a special type of trust designed to be the beneficiary of your qualified retirement accounts like IRAs, 401(k)s, and others. Since the SRT is named as the […]
Why Title Matters in Oklahoma
Real estate can take on different forms of ownership depending upon the number of parties and the unique circumstances involved. Understanding how your real estate is owned, or “titled,” is necessary because this determines the extent of control you have over your real estate, how susceptible your property is to creditors, and what will happen […]
What Does Dying Intestate Mean?
Most people understand that having some sort of an estate plan is a good thing. However, many of us do not take the first steps to get that estate plan in place because we do not understand the consequences of passing away without a will or trust (which is called intestacy). If you die intestate, […]
The Importance of Funding Your Trust
For many people in Oklahoma, a revocable living trust is a valuable tool to ensure that their finances are well managed during periods of incapacity and that their loved ones are financially secure upon their passing. Funding your trust is a critical component of preparing for your future. Not only does a completely funded trust […]