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
Tag: attorneys
Why Should I Get A Trust?
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?
Minors as Beneficiaries: A Good Idea or More Than You Bargained For?
Issues can pop up when you leave minors as beneficiaries. Read it about them here!
Minor Children: Will v. Trust
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
Decanting: How to “Open Up” an Irrevocable 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
What are these new change to Oklahoma’s power of attorney laws?
Passed by the legislature in the spring, House Bill 2548 established Oklahoma's new Uniform Power of Attorney act and went into effect on November 1st under Title 58. This act, which provides for more uniform power of attorney documents from state-to-state, mostly focuses on the financial power of attorney. Unfortunately though, through some drafting oversight, the… Continue reading What are these new change to Oklahoma’s power of attorney laws?
I Already Had a Will Drafted, Do I need to do Anything Else?
The answer to this question is probably yes, but depends on your personal goals. A valid will tells the probate court how you want your assets distributed after you pass, but even with a will, an estate needs to go through the probate process and have the court approve the will before assets are distributed. This typically takes at least… Continue reading I Already Had a Will Drafted, Do I need to do Anything Else?
“I Know What Will Happen to my Finances, but What Will Happen to my ‘Stuff?’”
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?’”
Oklahoma Small Estate Affidavit
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
The Importance of Placing Your Timeshares Into A Trust
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