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ESTATE PLANNING

Whether you are setting up a trust or a private foundation, the experts at The Private Bank at Bank of Oklahoma have the knowledge and experience, working closely with your own advisors, to craft the right financial strategy for you and your beneficiaries.

Our trust and estate management offerings include:

Personal Trust

A trust is a long-range financial planning tool that protects your assets, allows you to take advantage of estate tax savings and avoid probate. It puts you in control of your financial destiny by giving you the resources to manage your assets to their full potential. Your trust can protect your assets during your lifetime and provide financial security for your beneficiaries in the future.

Executor or Co-Executor

Naming us as executor or co-executor of your estate means that a trained and impartial corporate entity will oversee the difficult tasks that are legally required of this position.

Estate Settlement and Administration

The highly experienced professionals on our trust team will handle the many intricate steps of estate settlement and administration with sensitivity and respect.

Probate

Depend on professionals who are skilled at shepherding estates through the probate process.

A Revocable Trust is also known as a “living” trust, this is an agreement that you create during your lifetime. You direct how your assets are to be administered during your lifetime and for the benefit of others after your death. You may change this agreement anytime.

  • Often considered by people at a stage in their life when they want professional advice in managing assets in the event of their incapacity or extended illness.
  • Sensitive and diligent attention in honoring your confidences and protecting your property.
  • Fully support advance directives including living wills, health care and durable powers of attorney.
  • Can avoid probate and ensure the privacy of all financial matters, as well as creating tax-planning opportunities with the potential for saving income and/or transferring taxes.
  • Maintain your decision making autonomy and respect your family and social connections.

This is an agreement that you create which may not be changed after its creation. You can use a trust like this for specific tax reasons and to provide benefits for others.

  • Often become irrevocable upon the death of the creator of a revocable trust.
  • Funds are utilized to care for your family members under guidelines set forth in the document governing the trust.
  • Discretion is given to the trustee to make these payments, and an experienced trustee is a requisite to fully understanding your family’s needs.
  • Provides you with continuity, personal attention, and consistent administration with knowledgeable officers who understand the integrity and professional relationships needed.
  • Discretion to use funds is at the heart of the fiduciary relationship, and each document is crafted by your attorney to meet the requirements your unique family will experience.
  • We are prepared to do the job right: spending time to get to know your family’s needs and exercising discretion in a neutral unbiased fashion and standing ground when necessary in complex familial and sophisticated business situations.

 

This is a trust you create to support a favorite charity or charities. It can provide you tax benefits, while meeting your philanthropic goals.

  • A corporate fiduciary is the logical choice to serve as trustee of a perpetual charitable trust.
  • Our knowledge and experience allow us to prudently and effectively serve as trustee of various split interest charitable trusts where the current or remainder beneficiaries are charities.
  • We provide valuable investment advice as well as tax and regulatory compliance for private foundations.

In addition to traditional arrangements, Bank of Oklahoma serves in specialized areas including complex tax-driven trusts, court appointments, and special needs trusts. We are familiar with the latest iterations of transfer and income tax planning, can provide necessary court-approved accountings, and can serve as trustee in special needs trusts.

  • The legal training of our staff enables us to participate in sophisticated planning strategies such as discounted sales of partnership interests to grantor (defective) trusts, grantor retained annuity trusts (GRATs) and other tax driven trusts.
  • We have extensive experience in serving as conservator for minor and elderly persons under court supervision as well as serving as the provider of choice for VA administration.
  • Our sensitive and knowledgeable staff has extensive experience in serving as trustee for special needs and settlement type trusts for disabled individuals.
  • We serve as personal representative for probate administration in estates.

CONTACT US

Private Banking
Tulsa Area: (918) 293-7582
OKC Area: (405) 936-3991

Fiduciary Services
Tulsa Area: (918) 293-7561
OKC Area: (405) 936-3989

Investments
Tulsa Area: (918) 293-7572
OKC Area: (405) 936-3905

Mineral Management
(918) 588-6822

Real Estate Services
(405) 936-3918


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© 2014 Bank of Oklahoma, a division of BOKF, NA. Member FDIC. Equal Housing Lender.