A common question in estate planning is: “How do I dispose of my ‘stuff?’” While bank accounts can have beneficiaries listed, and items like homes and vehicles can be titled over to a trust, passing on the jewelry, furniture, and antiques around our homes may be less obvious, but does not necessarily need to be… Continue reading “I Know What Will Happen to my Finances, but What Will Happen to my ‘Stuff?’”
The attorney of Skillern Law Firm, PLLC, Penni Skillern, recently had a baby girl in January of 2015. Yes, that is why there was a lack of blog posts and updates on our website. The first thing she did when she was able to go back to work was update her estate plan to reflect… Continue reading Estate Planning for Your New Expanded Family
When handling people's estate plans, I am often asked how life insurance, retirement accounts, and other “beneficiary” property should be handled with regards to the young children. More often than not, people with children want some or all of the proceeds of these accounts to go to their minor children. For example, if a client… Continue reading (Minor) Children in Your Estate Planning
Most couples, especially married couples, get their estate planning done together and draft them accordingly. Most of the time, married couples will get a Family Trust, rather than two individual Trusts, and all the beneficiaries/executors/trustees are listed as each other. After the unfortunate event of a divorce, it is extremely important to get your estate… Continue reading It’s Important to Update your Estate Planning After A Divorce
If you have children who are minors, it is very important to 1) get a will and 2) choose a guardian to take care of them should you pass away before they are the age of majority. This can be a very, very difficult choice, especially if the father and mother do not agree on… Continue reading How to Choose a Guardian for Your Minor Child(ren)
There is a popular trend among the states right now in estate planning law to allow people to make preparations for their pets in their will or trusts. Oklahoma has recently joined the trend. Oklahoma now allows pet trusts since a relatively recent House Bill1641 that was signed into law and became effective August 27,… Continue reading Estate Planning for Pets! Oklahoma Pet Trusts.
The more clients and friends that we talk to, the more we see why so many people put off writing their will. No one especially wants to think about their own future death, and no one really wants to plan for it. In reality, however, everyone needs to have a will prepared, even at a… Continue reading Why Should I Get A Will Now?
A few years ago, my mother sent me the Jessica's morning affirmation video. I haven't woken up every morning with Jessica's joie de vivre, this morning I did. My whole house is great. I can do anything good. I realized that I can really make a difference for same-sex couples with estate planning. I'm not as sure… Continue reading Estate Planning for Everyone
Today on the Tulsa Estate Planning Blog, we're going to explain the difference between a living trust, a revocable trust, and an irrevocable trust. Specifically, what are the advantages and disadvantages of the types of trusts. So let's get started. A living trust and a revocable trust are usually, if not always, the same thing. … Continue reading Living, revocable, and irrevocable. Let’s talk trusts.
I was researching for a client recently who asked about debt and what exactly happens after a significant other or a child passes away. The client had signed as a co-signer on some of the deceased loans and was wondering if she was responsible for that debt. Also, the client was wondering whether her new… Continue reading Till Debt Do Us Part