When you create your trust, an essential aspect is determining who you wish to have as your Trustee. Your Trustee is authorized to carry out your wishes, therefore, you want this individual to be an honest, trustworthy, and responsible person. Being selected to someone’s trustee comes with great honor and explicit duties. What is a… Continue reading What You Need to Know About Trustees
Going through a divorce is an incredibly challenging and emotionally draining experience. Following the upheaval of separating assets and rebuilding your life, it's important to remember to update your estate plan. Estate planning after a divorce is crucial to safeguarding your assets. Following divorce it's important that you revisit your most recent last will and… Continue reading Estate Planning After a Divorce
Common Law Marriage Common law marriage, also known as an informal marriage, is a legally recognized marriage between two people who have not obtained a marriage license or held a formal ceremony. Not every state recognizes common law marriage as a valid and legal form of marriage, so a couple desiring to enter into a… Continue reading Common Law Marriage and Probate
Choosing to establish a Trust for your family is an important decision that requires a bit of planning and time. You have to understand why it is important to open a trust to protect you and your family's future, you have to decide if you have sufficient assets that warrants opening a trust, and you… Continue reading Why Should I Get A Trust?
The hardest step of estate planning is the initial preparation of your Will or your Trust. But, it is sometimes necessary that you may need to revise your estate planning documents. We all know life happens, beneficiaries or trustees pass away, someone unexpected comes into your life, or maybe you start to feel a little… Continue reading When Estate Planning Revisions Are Necessary
In estate planning, there are two types of avenues for when someone passes, probate transfers and non-probate transfers. Non-probate transfers have become increasingly popular because no one wants to actually go through the hassle of dealing with a probate. One way to ensure that property does not have to go through probate is to execute… Continue reading Transfer on Death Deeds: What you need to know.
Issues can pop up when you leave minors as beneficiaries. Read it about them here!
In 2021, the Oklahoma Uniform Power of Attorney Act went in effect, inadvertently repealing the Oklahoma statutory provisions allowing for the execution of a durable power of attorney for healthcare decisions. However, this past Oklahoma legislative session saw the resurgence of Oklahoma's healthcare power of attorney provisions. Senate Bill 1596, also known as the Oklahoma… Continue reading Oklahoma’s New Healthcare Power of Attorney. What You Need to Know
One of the many complications one needs to think about when planning for the distribution of their estate is minor children. It is vital that parents make plans for their children should should they die prematurely. Typically however, a minor, any one under 18, is not legally able to inherit your estate and manage his… Continue reading Minor Children: Will v. Trust
You've got an irrevocable trust, but our world and your life have changed dramatically. Maybe your family doesn't look the same as when you first created the irrevocable trust. Maybe the law has changed and it makes the administration of trust financially unreasonable or the distribution would now be considered financially wasteful. Maybe you simply… Continue reading Decanting: How to “Open Up” an Irrevocable Trust