Revocable Living Trusts, Irrevocable Trusts & Dynasty Trusts

Planning for the future is one of the most important steps you can take to protect your family, your business, and everything you have worked hard to build. At Knight, Stockton & Cunningham (KSC Law), our Oklahoma and Arkansas estate planning attorneys help individuals and families create customized trust-based plans designed to preserve wealth, avoid unnecessary court involvement, and provide long-term protection for loved ones.

Whether you are interested in a revocable living trust, an irrevocable trust, or a multi-generational dynasty trust, we provide practical guidance tailored to your specific goals and assets.

A trust is a legal arrangement in which one party (the trustee) holds and manages property for the benefit of another (the beneficiary), according to instructions laid out in a written trust document. Trusts are powerful estate planning tools commonly used to:

• Avoid or minimize probate
   
• Protect privacy and keep family affairs out of the public record
   
• Provide for minor children or family members with special needs
   
• Protect assets from certain creditors and lawsuits
   
• Plan for incapacity and long-term care
   
• Preserve wealth for future generations
   

Our attorneys help clients throughout Oklahoma and Arkansas choose and structure the right type of trust to match their needs.

A revocable living trust—also known as an inter vivos trust—is one of the most commonly used estate planning tools in Oklahoma and Arkansas. It is created during your lifetime and can be changed, amended, or revoked as long as you are mentally competent.

• Avoids probate for assets properly titled in the trust
   
• Provides continuity if you become incapacitated
   
• Keeps your estate private, unlike a will that becomes part of the public record
   
• Offers flexibility, allowing you to adjust terms as circumstances change
   

With a revocable living trust, you typically serve as your own trustee while you are alive and well, and you name a successor trustee to step in if you become incapacitated or after your death. Our Oklahoma and Arkansas trust attorneys can help you design and properly fund a revocable trust so that it actually works when your family needs it.

An irrevocable trust cannot be easily changed or revoked once it is established and funded. Because you give up some control over the assets placed in an irrevocable trust, these trusts can provide significant benefits that a revocable trust cannot.

• Asset protection against certain creditors and lawsuits
   
• Estate tax planning for larger estates
   
• Protection of life insurance proceeds through an Irrevocable Life Insurance Trust (ILIT)
   
• Planning for long-term care and potential Medicaid eligibility (subject to specific rules and look-back periods)
   

Irrevocable trusts are highly technical and must be drafted carefully to accomplish your goals under Oklahoma or Arkansas law. At KSC Law, we explain your options in plain language and help you decide when an irrevocable trust makes sense as part of your overall estate plan.

A dynasty trust is a long-term, multi-generational trust designed to preserve family wealth and provide ongoing benefits for children, grandchildren, and even future generations. These trusts can be particularly valuable for families with:

• Substantial real estate or business interests
   
• Oil, gas, or mineral rights
   
• Farms, ranchland, or other generational assets
   
• A desire to protect family wealth from divorce, creditors, and poor financial decisions
   

• Multi-generational protection of family assets
   
• Potential estate tax efficiencies over several generations
   
• Ability to set conditions or guidelines for distributions
   
• Protection of inheritances from beneficiaries’ creditors or ex-spouses
   

Our attorneys help Oklahoma and Arkansas families structure dynasty trusts that reflect their values, protect their legacy, and create a clear roadmap for future generations.

The best trust structure depends on your:

• Asset types (real estate, business interests, investments, retirement accounts, mineral rights, etc.)
   
• Family dynamics and needs
   
• Concerns about taxes, creditors, or lawsuits
   
• Goals for privacy and control
   
• Desire to plan for multiple generations
   

At KSC Law, we do not believe in one-size-fits-all documents. Our trust and estate planning lawyers listen carefully to your objectives and then design a tailored plan that may include:

• Revocable living (inter vivos) trusts
   
• Irrevocable trusts
   
• Dynasty trusts
   
• Special needs trusts
   
• Charitable trusts
   
• Powers of attorney and advance directives
   
• Wills and pour-over wills
   

When you choose KSC Law, you gain:

• Experienced estate planning attorneys familiar with Oklahoma and Arkansas trust laws
   
• Clear explanations of complex trust options in practical, understandable terms
   
• Customized drafting, not generic forms
   
• Guidance on funding your trust, including retitling property and updating beneficiary designations
   
• Ongoing support as your life circumstances and goals change
   

We help ensure that your trust is not only properly drafted, but also properly implemented—so your plan works when your family needs it most.

Whether you are just beginning to think about estate planning or you want to update an existing will with a trust-based plan, KSC Law is ready to help. Our attorneys provide thoughtful, personalized guidance for revocable living trusts, irrevocable trusts, and dynasty trusts throughout Oklahoma and Arkansas.

Contact us today to schedule a consultation and start building a plan that protects your loved ones, your assets, and your legacy.