Easy Questions  
Free Legal Documents

Do I Need a Living Trust in Aline, OK

Do I Need a Living Trust in Aline, OK


Never say you know a man until you have divided an inheritance with him.
 
- Johann Kaspar Lavater


What is a living trust?

Living trust refers simply to the trust you create while alive. Trust is an agreement under one person called the trustee who can hold legal title to property for another person called the beneficiary. Having your own living trust and be the trustee of the same is possible. You will be responsible of keeping control over all property held in trust.

Does a living trust go through probate?

No, a revocable living trust does not go through probate after you die. The successor trustee you have appointed will just transfer ownership to the beneficiaries you have mentioned in the trust. The whole process usually takes only a few weeks with no court fees or lawyers to pay. If the transferring of property is done to the beneficiaries, the living trust will no longer exist.


Is Living Trust expensive to make?

No, a revocable living trust is not that complicated to make and you will find that it is fast, easy and affordable at 1-2-Law.

Is it a hassle to hold property in a living trust?

No, you won't need a lot of paperwork and administrative hassle to create a living trust, unlike the experience when you transfer a property directly to a beneficiary.

Is a living trust document ever made public like that of a will?

No, the terms of living trust are not divulged to the public, which is a benefit when compared to a will.


Does living trust provide protection from creditors?

No. A creditor who wins a lawsuit against you can go after the trust property and claim it as payment for what you owe.

Does a living trust protect property from creditors after I die?

Generally, after you die, all property you owned including assets held in a living trust is subject to your lawful debts. A creditor who wins a lawsuit against you can go after all the properties under your name and claim it in behalf of what you owe. However, since the living trust is not a public document, creditors will have a difficult time identifying who has inherited your properties.


If I make a living trust, do I also need to make a will?

Yes. Your will serve as an essential back-up document for the properties you were not able to transfer to yourself as a trustee. If you have a will, it will clearly state where those properties will go. In the absence of a will, your properties will go to the closest relative in an order determined by the state law.

Can a living trust reduce estate taxes?

A simple probate-avoidance living trust has no effect on state or federal estate taxes. Deaths occurred in 2014 with estates valued at more than $5.34 million will pay federal estate tax. This amount is indexed for inflation and will go up in the future. Most estates in the US are less than the $5.34 million personal exemption.

 
Personalize & Print a Free OK Living Trust Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12
Page 13
Page 14
Page 15
Page 16
 
Personalize & Print a Free OK Last Will Download this Document
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Related Legal Services near Aline, OK
Blevins & Associates
3315 NW 63rd St
Oklahoma City, OK 73116
(405) 848-9684
Bankruptcy Law Attorneys
Moore James R
301 NW 63rd St # 550
Oklahoma City, OK 73116
(405) 843-9675
Attorneys, Legal Service Plans
Gray Robert D
3500 S Blvd St
Oklahoma City, OK 73116
(405) 848-8998
Attorneys, Legal Service Plans
Blankenship G T
6412 Avondale Dr # 400
Nichols Hills, OK 73116
(405) 848-8791
Attorneys
Makohin, Lundy
6520 N Western Ave
Oklahoma City, OK 73116
(405) 741-8715
Adoption Law Attorneys,  Attorneys,  Adoption Services,  Family Law Attorneys
Jaye Mendros
3033 NW 63rd St Ste E-105
Oklahoma City, OK 73116
(405) 605-8639
Cook David T
1001 NW 63rd St
Oklahoma City, OK 73116
(405) 848-8488
Attorneys, General Practice Attorneys
Andre Phillip M
1000 W Wilshire Blvd
Oklahoma City, OK 73116
(405) 840-8400
Attorneys,  Family Law Attorneys,  Divorce Assistance,  Legal Service Plans
Boren Law Office
6520 N Western AVE
Oklahoma City, OK 73116
(405) 607-8304
General Practice Attorneys, Attorneys, Adoption Services
Ikard James A Atty
6520 N Western Ave
Oklahoma City, OK 73116
(405) 607-8304
Attorneys
Robert & Rebecca Boren
6502 N Western Ave
Oklahoma City, OK 73116
(405) 607-8304
General Practice Attorneys, Adoption Services, Attorneys
Ircink & Miller
3035 NW 63rd St
Oklahoma City, OK 73116
(405) 858-8282
Attorneys, General Practice Attorneys
Lowe Justin
3133 NW 63rd St
Oklahoma City, OK 73116
(405) 848-7777
Attorneys
Schaffer Peter K
4334 NW Expressway
Oklahoma City, OK 73116
(405) 239-7707
Attorneys
Vassar William A Iii
1001 NW 63rd St
Oklahoma City, OK 73116
(405) 840-7700
Attorneys, General Practice Attorneys, Legal Service Plans, Labor & Employment Law Attorneys, Employ
White Coffey & Fite Attorneys
1001 NW 63rd St
Oklahoma City, OK 73116
(405) 842-7589
General Practice Attorneys, Attorneys, Legal Service Plans
Sander Lori A
4045 NW 64th St # 510
Oklahoma City, OK 73116
(405) 842-7305
Attorneys, Legal Service Plans
Felker Ken
4045 NW 64th St # 510
Oklahoma City, OK 73116
(405) 842-7305
Attorneys, Legal Service Plans
Berry James W
2832 W Wilshire Blvd
Oklahoma City, OK 73116
(405) 755-7301
Attorneys, Legal Service Plans
Makohin George M
6520 N Western Ave Ste 202
Oklahoma City, OK 73116
(405) 858-7220
Wills, Trusts & Estate Planning Attorneys,  Attorneys,  Business Law Attorneys,  Real Estate Attorn
Gill Law Firm P
4334 NW Expressway
Oklahoma City, OK 73116
(405) 753-6999
General Practice Attorneys, Attorneys
Schatz Steven R
6801 Broadway Ext # 320
Oklahoma City, OK 73116
(405) 848-6884
Attorneys
Thom Michael W
3807 Bthny
Oklahoma City, OK 73116
(405) 848-6600
Attorneys, Legal Service Plans
Terrell David
3501 NW 63rd St # 301
Oklahoma City, OK 73116
(405) 286-6353
Attorneys
12Law.com   |  NASHVILLE, TN USA   |  CONTACT US