When creating a comprehensive estate plan, a trust can be one of the most critical instruments, although they can seem complex for people who have not been through the process before.
At Derryberry & Naifeh, LLP, our attorneys are experienced and well-versed in all aspects of estate planning, including the use of trust instruments to transfer wealth. With more than 30 years of estate planning and probate experience, our lawyers can provide you with sound counsel and help you use trust instruments to meet your estate planning needs. We serve clients throughout the area of Oklahoma City in all types of estate planning matters.
There are trust documents for almost every situation. Our lawyers can help you create any number of trusts that will work for your situation, including:
- Special needs trusts: If you have a child with special needs, a trust of this kind can transfer assets to provide for the child while minimizing tax consequences and avoiding the possibility of losing out on critical government benefits.
- Asset protection trusts: Often called "spendthrift trusts," asset protection trusts can include provisions for the timing and manner of asset distribution; examples can include asset distribution after graduating from college or when the beneficiary reaches a certain age. Assets can be distributed only when they are used for a specific purpose, as well.
- Irrevocable trusts: As the name implies, irrevocable trusts cannot be revoked or altered after being established.
- Charitable trusts: If you want to donate assets to charitable organizations, a charitable trust can be established to transfer these assets efficiently.
Efficient distribution of assets with a minimal of tax penalties, while retaining control of how and when the assets are distributed: These are just a few of the benefits of using trusts as a strategic part of your comprehensive estate plan.
Contact Derryberry & Naifeh, LLP
Talk with a sophisticated, experienced lawyer from our firm to discuss the use of trust instruments in your estate plan. Call us at 405-708-6784 (866-661-0893 toll free) or contact us online to schedule a consultation.