Estate Planning FAQ

Creek County Estate Planning FAQs

There are many Oklahoma state and federal laws to consider when planning your estate. Naturally, you may have many pressing concerns as you move forward in your estate plan or probate process. This is a completely normal experience and G. Gene Thompson, Attorney at Law encourages you to seek out professional assistance immediately. As an experienced Creek County estate planning lawyer, he can guide you through the process of creating a legal and sustainable estate plan.

Below, he has included some of the most frequently asked questions that his firm receives regarding estate planning, elder law, wills and trusts , and probate estate administration.

Get to Know the Estate Planning Basics

Who needs an estate plan? 
Everybody! Estate planning is not just for the wealthy or elderly. The main purpose of an estate plan is to safeguard your family in case you are no longer able to provide for them. In the event of disability or death, a viable estate plan is the best way to protect your family's financial stability.

What are the main purposes of an estate plan? 
A legal estate plan will allow your loved ones to avoid probate court. If there is no plan in place, the courts will decide how your assets are distributed. It is estimated that probate court costs Americans almost $2 billion a year! You can avoid the cost, time, and headache associated with the legal process of probate by working with an experienced estate planning lawyer.

What does estate planning cover? 
Estate planning is a broad term. Though many people have heard of estate planning, very few actually understand all that is included in an estate plan. Estate plans can differ in unique ways to fully protect the interests of an entire family or an estate. Some estate plans can include wills, trusts, advanced directives, living wills, retirement plans, and funeral arrangements. Other estate plans can name a guardian for minor children, or can appoint an executor of the property. No estate plan will be the same and all can be customized to suit the unique needs of a family, individual, or business.

What is the difference between estate planning and elder law? 
Elderly individuals face particular concerns when planning their estates. Some of these concerns could include:

  • What are the effects of Social Security upon my estate?
  • In the event that I become incapacitated, who would I appoint as guardian and / or conservator?
  • What are my wishes for long-term medical care?

Can I change or modify my estate plan later? 
Finances change, children grow up, and marriages dissolve. All of these are factors that can significantly impact an estate plan. Periodic review of your plans can ensure that your family is protected and your wishes are followed. With the help of a knowledgeable attorney, you can revisit and modify an estate plan at a later date to reflect the changes in your family or financial situation.

Retain a Creek County estate planning lawyer to protect your future!

Do you have unanswered questions? Are you still concerned over the process of your estate plan? Don't be worried or stressed. With the right legal counsel, you can make informed decisions regarding your estate plan or upcoming probate process. Whether you are in need of legal assistance for your estate plan, probate, or elder law matter, G. Gene Thompson, Attorney at Law possesses reliable knowledge, resources, and skills.

Securing your family's future is Gene's first concern. Through any hard times, he will be there as your support and counsel every step of the way. Contact Gene's office today to get started implementing a customized estate plan that can protect your family, finances, and future .

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Gene Thompson, Attorney at Law is proud to serve clients throughout Northeast Oklahoma, Creek County, Sapulpa, and other areas in Oklahoma.
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