What is estate planning?

Estate planning is a process used to make sure you have a plan for how your assets and financial matters will be handled after you die. In Oklahoma, estate planning involves creating legal documents, such as a will or trust, that specify how your property will be managed and distributed after your death. Estate planning also includes naming an executor, someone responsible for carrying out your wishes. Working with an estate planning attorney, you can create a plan that takes into account your family’s needs, state and federal taxes, and other factors. Estate planning also helps ensure that your wishes are followed if you become incapacitated or unable to make decisions for yourself. In an estate plan, you can name someone to make decisions for you if you are unable to do so. That could be decisions about your finances, health care or other matters. For example, an estate plan can include a power of attorney or a living will, which can give someone else the authority to make decisions for you if you become unable to make them for yourself. In addition to the documents you create, you should also consider other measures to ensure that your wishes are followed after your death. This could include keeping important documents organized, having a plan for paying taxes and debts, and designating an executor to carry out your wishes. Estate planning is an important part of maintaining control over your finances and assets, even after your death.

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What is estate planning?

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