Living trusts can be complex and confusing. A living trust is a mechanism that allows you to make the best use of your assets during your lifetime and then provides directions on how the assets are to be distributed after your death without the need for court supervision or approval. During your lifetime, typically you would act as trustee and utilize your assets according to the trust terms you have established. This mechanism means that you will remain in control of your assets while you are still living. For as long as you are legally competent, you can amend the trust or even revoke it. You can name an alternative trustee in the event that you become incapacitated or you don’t wish to continue as trustee for any other reason.
After your death, another individual whom you designate acts as trustee and distributes the property according to your instructions. Unlike in the case of a will, there is no, “probate,” process in a living trust arrangement. Administration of a living trust can, therefore, be a simpler, quicker and less costly process than probate. With our experience in establishing living trusts for almost 40 years, our estate litigation lawyers can counsel you on issues relating to establishing a trust and can handle all the steps needed to set one up for you.
When we represent you in connection with establishing a living trust, you can expect the following services:
If you are considering setting up a living trust and would like to learn more about this estate-planning mechanism, contact a living trusts lawyer in Lawton, OK today. Call Meyers Law Firm, PLLC at 405-326-7140 today or contact us online to schedule a personal consultation and discuss your situation in confidence.