Revocable living trusts help shelter estate assets from probate. They help to shield private finances from public scrutiny and provide additional control over the disposition of assets after their owner’s death.
A pour-over will is a legal document that ensures an individual's remaining assets will automatically transfer to a previously established trust upon their death. These wills are normally created alongside a trust.
Estate planning is not a one-size-fits-all type of process. The path taken depends on the amount of assets in the estate, the goals for the estate and the complexity of relationships within the family.
In the state of Oklahoma, if you own land in joint tenancy, you don't have to go to probate court. However, to record the transfer of ownership, there are some specific steps to be taken once the other owner passes away.