Norman Trust Lawyer

Trusts are an essential part of asset protection and estate planning. Many people omit creating a trust when estate planning, thinking that they are just for wealthy people, or that they don’t have enough assets to really need protection. The truth is, if you have a home, want to pay for a child’s education, or are worried about having enough money in retirement, a trust could be a valuable tool to help you accomplish your financial goals. At Lai & Turner Law Firm PLLC, we help families like yours create trusts to protect everything you’ve worked so hard for. Learn more in a personalized consultation with our Norman, OK trust lawyer.

Trust Lawyer Norman, OK

Are you worried about a child overspending an inheritance, or concerned that you may not have enough money for retirement? A trust can help you accomplish financial goals and even grow your assets. A trust is a legal entity created by a grantor, also called a settlor, to hold and manage assets for the benefit of the trust’s beneficiaries. It is managed by a trustee, who has a fiduciary duty to act in the best interests of both the trust and its beneficiaries. Trusts can be revocable, allowing the grantor to maintain control over the assets and, in some cases, retain legal ownership, or irrevocable, which cannot be changed. The assets contained in this type of trust are no longer legally controlled by the grantor, which protects them from seizure. Each type has its advantages and considerations. Our Norman trust lawyer explains what kinds of trusts would work best to protect your family, provide for them, and further your financial goals.

Nearly any type of asset can be placed into a trust, from real estate, such as a family home, to investment accounts. The trustee manages the assets according to the trust’s terms and state law, so that the trust accomplishes the purpose you wanted.

Trusts aren’t just an allowance for wealthy kids. If you have assets you want to protect from creditors or division in a divorce, if you have a child with special needs and want to provide for them, or if you want to help pay for a child’s education and not have the money used for anything else, then a trust can accomplish just that. Our firm drafts trusts tailored to your needs and can serve as trustee if you cannot or do not have a trusted person to handle the responsibility.

Why Our Experience Matters In Your Trust Case

For your trust to be effective, it must comply with the Oklahoma Estates Code. As experienced estate planning attorneys, we ensure that your trusts are sound and drafted to enhance the lives of the beneficiaries. We also offer trust administration services if you have no one in your life to fulfill that task.  And our firm keeps up to date on changes in state and federal laws that could affect your trusts.

• Our lawyers are authorized to practice across multiple jurisdictions, including Oklahoma, Texas, and the Chickasaw Nation
• Co-founder Jimmy Lai was recognized with the Top Central Man award at the University of Central Oklahoma for his leadership and accomplishments
• Lead attorney Braden Turner is an active member of the Pi Sigma Alpha Honor Society
• Our firm approaches every case with energy and innovation, providing zealous advocacy both in and out of the courtroom

Would you like to learn more about how one or more trusts can improve your finances and give you more protection? Call Lai & Turner Law Firm PLLC today for a consultation.