Estate planning in Rogers County is an essential part of getting older.  Grandchildren inheritance is an important part of Estate Planning.  There are over 80,000 families on Oklahoma in which a grandparent is functioning in a parental role for grandchildren.  As a result, it is common for a grandparent to want to leave their grandchildren inheritance in their wills and trusts.  This is possible, if you create a plan.

Grandchildren Inheritance and Estate Planning

If you do not create a legal estate plan, your possessions will enter into a legal state of “intestacy”.  In intestacy, your estate will go to your biological children.  It does not travel further, unless your biological children are no longer living.  In some cases, this will ensure that your grandchildren are completely left out of the inheritance.  This is why having a plan is so important.

Whether your grandchildren are adults, or they are still legally minors, you can provide for them in your will or trust plans.  One option to ensure grandchildren inheritance is to create a will.  This designates the specific property you wish your grandchild to receive.  At this point, you can leave a house, financial accounts, family heirlooms, etc. to grandchildren.

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Another option is creating a trust.  Trusts are a primary tool in cases where a grandchild is still a minor.  This way you can determine how much your grandchild will receive and over what period of time you wish this to occur.  Trusts are extremely useful if you want to provide a steady source of income for your grandchildren.

Claremore Estate Planning Attorneys

Estate planning attorneys can help sort out your final wishes and develop a strategy that works for you.  This way you can rest assured about leaving your grandchildren inheritance.  Further, we do the majority of the paperwork and legal filing.  This will ensure your will or trust is executed correctly.  Call us today for a free consultation.