Monthly Update for Administration of Trusts and Asset Management

Kelli Bass |

It is our hope that our Monthly Update on various trust and financial issues will be helpful to you.


A Last Will and Testament is your opportunity to bend the future a bit in the direction you want.  In your Will, you are able to specify what you want to happen to your assets upon your passing, with some limitations.


Choose Your Own Personal Representative.  Everyone needs a Personal Representative, the person who manages and distributes your property and assets according to your Will, but unless you name one, the probate court will appoint one for you.  A court-appointed Personal Representative may not be the person you would have chosen and may not know anything about your family.

Provide For Your Family.  Your Will can take care of your family financially.  You can decide what assets your relatives will inherit.  Your Will can also arrange for ongoing care of your minor children if you are a single parent or if you and your spouse die simultaneously.  It can allow you to name a guardian for their personal care and a guardian to manage the assets you have left for your children.  There can be some wisdom in those two guardians not being the same person(s).

Provide For Others Beyond Your Family.  You may have charitable inclinations and want to leave specific bequests to certain charitable organizations.  Your Will can ensure these bequests happen.  


Make Gifts During Your Lifetime.  Gifting during your lifetime can be a great way to reduce your taxable estate upon your passing.  Gifting during your lifetime can also allow for you to enjoy seeing your loved ones or charitable organizations benefit from the gift.   

Hold Assets For Your Beneficiaries Beyond Age 18.  Unless, inside your Will you create a testamentary trust for the beneficiaries, the assets will be transferred to the heirs upon them attaining age 18.  Have you ever known a child who is fully responsible and skilled enough to manage an inheritance at age 18?  There are also instances where it is appropriate or a good idea for a beneficiary’s share to remain in trust for a period of years or even for their lifetime.  Just one reason can be to protect them from creditors and predators.  

Provide For Asset Management Due To Incapacitation.  There are times when we get to a point in our lives when we are no longer able to manage our own finances.  A Will does not come into play until you have passed away.  You would need a Power of Attorney or a Trust in place to appoint someone to manage your assets during your lifetime in the event you are no longer able to do so yourself.  


Your trusted advisor might be your attorney, financial advisor, CPA, banker, or a combination thereof.  Speak with this person(s) about which estate planning tools would be best for you at this time in your life.  Please note your estate planning needs will change and evolve over time and should be reviewed on a periodic basis to make sure they are still meeting your desired intentions.

WealthTrust Oklahoma is the Oklahoma Trust representative office of National Advisors Trust Company. We are independent and hold a federal charter.  In addition to trust administration services, we offer investment management services through our firm, WTO Advisors.

Alyssa Kaiser, CTFA, has over 31 years of experience in the trust, investment, and banking industries and is President of WealthTrust Oklahoma and WTO Advisors.  Alyssa may be contacted at: (405) 241-1600, or by email at