Protect Your Assets by Creating a Living Trust

If used appropriately, a living trust will protect your estate from taxes and provide a stable income stream to you and your loved ones. Historically, trusts were considered a tool only for the rich. Experienced estate planning attorneys now consider them an essential piece of any estate plan. To learn more about creating a living trust call Donna J. Jackson, Attorney at Law, P.C. at 405-840-1874. Attorney Jackson represents people throughout the counties of Oklahoma, Cleveland, and Canadian.

Living Trust: Created during your lifetime, a living trust is a contract between you and the people you trust. In order to avoid probate, the contract states your wishes concerning the distribution of the trust property.

As an essential piece of an estate plan, trusts have benefits over wills. Unlike a last will and testament, a trust acquires legal effect upon signing of the document. Trusts also effectively control the disposition of your property to your family after you die. Preventing family members from getting large lump sums of money, trusts can disperse smaller amounts of money to beneficiaries.

In order to avoid estate taxes, trusts are created during your lifetime. They also can effectively protect your family members against costly income tax liabilities. Attorney Donna J. Jackson, a licensed CPA, will explain to you the different tax consequences of your estate plan.

Other types of commonly created trusts are:

• Charitable remainder trust
• Revocable trust/Irrevocable trust
• Special needs trust
• Life insurance trust
• Educational trust

To learn more about this flexible estate-planning tool, call Oklahoma City attorney Donna J. Jackson at 405-840-1874. Fill out and submit the attached contact us form to get answers about living trusts.