A will is the foundation of most Newcastle households' plans. For Newcastle Public Schools families, it names a guardian for minor children. For commuter households, it coordinates with employer retirement plan beneficiaries.
What a real Newcastle will includes
- Identification of the testator and family.
- Revocation of prior wills.
- Specific bequests.
- Residuary distribution.
- Guardianship nominations.
- Trust within the will for minor beneficiaries.
- Appointment of personal representative.
- Tangible personal property memorandum.
- Proper Oklahoma witness and self-proving affidavit signing.
Will-based plan vs. trust-based plan
For many Newcastle households, a well-drafted will is the right answer. For households with significant home equity or out-of-state property, a revocable trust often earns its keep.