When individuals do estate planning, they traditionally plan for how their assets can help the next generation. But sometimes, those assets can be more of a burden than a blessing. An easy example of this is inheriting a house with an active mortgage. If this house is worth $200,000 and there is still $100,000 left to… Continue reading When I die, what will happen to my mortgage?
While estate planning is often done in consideration of a client’s family, it can be just as, if not more important for single people. An obvious issue is who will inherit a single person’s estate after they pass away? If a will is not in place, generally the estate will pass to children, and… Continue reading What Sort of Estate Planning Do I Need if I’m Single?
Estate planning is not a very glamorous subject, and some people may think they don’t need to do it at all. Maybe you and your spouse have two grown children, and you know that when you pass everything will be given to them, but often there is a little more to it than that. Yes,… Continue reading What Exactly Does Estate Planning Include?
While no one wants to envision a worst case scenario when it comes to their health, life does happen, and if you become incapacitated, either for a short time, or long term, giving someone the power to make decisions on your behalf can be difficult if a plan has not been implemented beforehand. Whether you… Continue reading “Who Can Handle My Affairs If I Get Sick or Injured?”
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?’”
Many young people incorrectly assume that estate planning is just for the elderly or the very wealthy. But no matter your age or net worth, it is important to have a basic estate plan in place. Estate planning is more than just having a will; creating an estate plan allows young people to distribute their… Continue reading Estate Planning is not just Death Planning – Why Millennials Should Create an Estate Plan.
There is a common misconception that estate planning is only for high net worth individuals, but establishing an estate plan and creating a trust can be the correct decision for anyone. Anything you have ever accumulated in your life is your estate. Having a plan to manage it is smart and often necessary. In essence,… Continue reading Estate Planning – Not Just for the 1%
When is the last time you thought about your estate plan? If you are like most women, you probably do not think about it frequently. However, creating a comprehensive estate plan is especially important as a woman. If you’re a woman, you’ll likely be managing your finances on your own at some point and will… Continue reading Estate Planning for Women
When buying an investment property, you have the option of purchasing it in your own name or purchasing it under the name of another entity, such as a limited liability company (LLC). The LLC then becomes the legal owner of record, not you as an individual. Purchasing commercial investment property under an LLC has significant benefits… Continue reading LLC’s for Commercial Investment Property
Two Oklahoma Statutes offer an alternative to probate for small estates valued under $50,000. If you have a valid will, these provisions will not apply to you even if your estate is under $50,000. However, those without a will and an estate under $50,000 can take advantage of these provisions and avoid the probate process… Continue reading Small Estate Affidavits – An Alternative to Probate