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?’”
An Affidavit of Heirship is a sworn statement that can be used by heirs as an alternative way to transfer property and establish ownership when the original owner dies intestate or without a will. Affidavit of Heirships allow for heirs to take possession of the estate without going through probate. The Affidavit of Heirship outlines the deceased… Continue reading Affidavit of Heirship – An Alternative to Probate?
As most of you will be aware, the virus called COVID-19 or "coronavirus" has changed our everyday lives during this time. As of this post, more than 340,000 people in the United States have tested positive for the virus, and it has cause around 9500 deaths. Around the country, including in Oklahoma, courts are shut… Continue reading Estate Planning in time of COVID-19
I have many clients that come into my office that have written, scribbled, crossed-out, or marked all over their estate planning documents. This can be a big mistake with big consequences! What should you do if you have a Will or a Trust that you wish to change, amend or revoke? One thing people frequently… Continue reading Never write on your original estate planning documents
Most of our clients come to us to help make their loved ones' lives easier - not more difficult. Many people will come in wanting a very simple estate plan because of the cost or because they believe their estate is not large enough to cause anyone any issues. However, often, very simple estate plans… Continue reading As your life changes, so should your estate plan.
As an estate planning attorney, most of my clients are meeting with me to help avoid probate as much as possible. I have written previous posts all about how to avoid probate. However, sometimes, probate can be beneficial in certain circumstances. A lot of estates go through probate, which is the court process to distribute… Continue reading Reasons to Choose Going to Probate
Oklahoma permits the distribution of a small estate without probate, if the estate is worth $50,000 or less in total. There are two ways to avoid probate using affidavits in Oklahoma - one for financial accounts, one for personal property. The first type of "Small Estate Affidavit" allowed in Oklahoma is one for financial accounts… Continue reading Oklahoma Small Estate Affidavit
Whenever an attorney creates a Revocable Living Trust for a client, the trust needs to be funded. "What does it mean to fund a trust?" is a common question that our attorney at the Skillern Law Firm gets from clients. It is a very important step in the estate planning process. To see what a Revocable… Continue reading Funding A Revocable Trust
If you do not have a Revocable Living Trust, your estate will need to be probated or be small enough for a simple affidavit. Probate is the legal process required for estate administration and asset distribution. To read more specifically about what probate is, read our previous post "what is probate." One important thing about… Continue reading Oklahoma’s Simplified Probate
Most, if not all, timeshare owners will have to decide, at some point in their life, who they want to receive their timeshares after they pass away. Most timeshares are real property interests, that are deeded into the owner(s)'s name(s). If a timeshare is held in an individual's name at death, just like any other piece of… Continue reading The Importance of Placing Your Timeshares Into A Trust