Wills and Trusts for Families and Couples

Families and couples often put off creating a will or trust because it feels overwhelming, or they believe them to be unnecessary. However, establishing an estate plan can provide peace of mind while protecting your loved ones from legal and financial stress.

Whether you’re newly married, starting a family or looking to protect your assets, understanding the basics of wills and trusts can prepare you to make informed decisions.

Every Family Needs a Will – Here’s Why

Did you know having a will can name a guardian for your children, ensuring they are cared for by those you trust? Here are other key benefits of having a will:

• Protects your loved ones
• Eliminates family disputes – Having a will sets clear directions for your loved ones, preventing conflicts.
• Allows you to appoint a guardian
• Streamlines the probate process

Without a will, the state decides how your assets are apportioned, which may not align with your wishes.

Understanding Trusts

Trusts offer flexibility and control more than a will. Here are the different types of trusts you can choose from:

• Revocable trust (living trust) – Allows you to manage your assets during your lifetime and you can transfer them without probate after you pass.
• Irrevocable trust – This type of trust cannot be changed once it’s set up. However, it does offer tax benefits and asset protection.

Why Should You Consider a Trust?

A trust allows your assets to pass directly to your beneficiaries, bypassing probate and streamlining the inheritance process. Unlike a will, a trust remains private, keeping your financial matters confidential. It also provides an extra layer of protection for your children’s inheritance, ensuring assets are managed responsibly—especially for minors. Additionally, depending on the type of trust, it can offer significant tax benefits, potentially reducing estate taxes and preserving more wealth for your loved ones.

Which Option is Right for You?

For many families, having both a trust and a will is the best approach. Each serves a unique purpose, and ultimately consulting an estate planning attorney can help tailor a plan that fits your situation.

Estate planning is for everyone–it’s crucial for every family and couple.

Taking the time to create a will or trust today can prevent complications and provide security for your loved ones after you pass.

Take the next step and plan ahead! Reach out to a professional like Oklahoma attorney, Kevin L. Miller, PC. Kevin has over 35 years of experience in helping all kinds of families and individuals.

He says, “For me, estate planning is more than property and money. It is about planning, providing, and caring for you and your loved ones, both now and in the future.”

Planning ahead means peace of mind today and security for tomorrow. Get started today by calling (405) 443-5100.