Understanding Your Estate Planning Options
I’m Katrina Lucas with Wirth Law Office. I’m a Tulsa business attorney here in Tulsa, and I also serve the surrounding areas and other counties in Oklahoma.
I’m going to talk to you about estate planning options and how to review what you may have been offered as a package from another attorney or from an internet source.
Will Package
I offer a package that includes your will. And if I do a will, you also get a durable power of attorney—which means it will last if you become incapacitated—a medical power of attorney, so someone can ask questions of your doctor and provide information if they’re not specifically recognized as a family member or may be challenged by family members. I also include a HIPAA disclosure form that goes with it.
That’s one complete package for a will. It’s not unheard of to just do a simple will, but if you do a will without those supporting documents, you’re not fully protected, and you’re not quite ready to set down the worry of, “If something happens to me, is everything okay?”
Trust Planning
Then we move to trust planning—what you need for a trust. A trust has a lot of documents that support it, and you need an attorney who can help you and inform you on how to fund your trust, how to ensure those assets are properly placed in the trust, how to prepare deeds and transfers, and how to work with your banks if necessary to make sure the beneficiary is the trust.
You’re also going to need the same kinds of documents with that trust—a durable power of attorney, a medical power of attorney, and HIPAA disclosure forms. These support the trust because a trustee, who has the ability to provide for you and make sure your funds are managed while you’re in the hospital or incapacitated, also needs a durable power of attorney to be able to talk to loan agents and other entities that have an interest in your estate should something happen to you.
Take Action Now
Call me here at Wirth Law Office at (918) 932-2879 to set up an appointment. I’d be happy to talk with you about your estate planning needs. This is Katrina Lucas, a Oklahoma cannabis business attorney with Wirth Law Office in Tulsa, Oklahoma. Stay safe, stay legal.