Protecting Your Family Starts with Planning for Your Future
Benjamin Franklin famously said, “An ounce of prevention is worth a pound of cure.” At Bedlam Law, we have found that Benjamin Franklin might well have been talking about estate planning. Proper estate planning helps loved ones at the time of your death. When you are no longer here to help, we want the transition to be as easy and painless as possible. Proper estate planning allows you to address issues regarding minor and adult children. Plan for the distribution of your estate in a such a way that you are in control. Plans can provide homes, an education, or security for children, grand-children, or other loved ones. Money, property, or other gifts can be made to individuals or charity. Without a will, the laws of the State of Oklahoma will decide who receives your estate. Problems with an ex-spouse, taxes, and other creditors or persons whom you have no desire to be involved in your estate are given an opportunity when no estate plan is put in place. When giving your life savings away is not an option, Bedlam Law can help you with a plan that will create peace of mind for you and your loved ones.
Another key consideration for your estate is Medicaid. Medicaid pays almost the entire cost of nursing home care for those who qualify, but eligibility is dependent on having a low level of assets and income. Many families think their only option is to spend all of the family assets that were earned over a lifetime to pay for care until they qualify for Medicaid. Avoiding spending your life savings on medical care takes planning. Allow our team to help you with a plan to preserve your life savings.
Handling Every Aspect of Estate Planning
A good estate plan will be customized based on your situation and goals. Some people need a simple will, while others may require something much more complex, like a trust. In addition, part of estate planning is helping your family members avoid (where possible), or effectively navigate the probate process after you are gone. Our team of attorneys has the experience needed to help you with every aspect of your estate plan and ensure your loved ones are not faced with a difficult legal burden while they are grieving your loss. To learn more about the various estate planning services provided at Bedlam Law, follow the links below:
- Trusts – Trusts are an effective vehicle for protecting your assets today, while making the transition to your loved ones much easier when you are gone.
- Wills – A will is usually the first step in an estate plan, and can cover many of the most important things, such as where your assets go, and who should get custody of minor children.
- Probate – When you pass, your estate will likely have to go through probate court before it is passed on to your loved ones unless you created a trust. We can work with you to reduce or even eliminate the need for probate. When the time comes, we can help your loved ones through the transition and passing of your estate and your wishes.
- Guardianships – If you have minor children or someone with a disability requiring long term care, establishing guardianships may be necessary to provide for them in their time of need.