Beneficiary Designation, Estate Planning, Oklahoma, Oklahoma News, Our Attorney, probate

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

Estate Planning, HIPAA Authorizations, Legal News, Oklahoma

HIPAA Authorizations – Why They Are Important

In 2003, the United States Department of Health and Human Services enacted regulations under the Health Insurance Portability and Accountability Act of 1996, or as it is more commonly known, “HIPAA”. Under this new law, medical providers can face serious sanctions and monetary fines for releasing unauthorized  “Protected Health Information,” usually meaning medical records. As a result, medical… Continue reading HIPAA Authorizations – Why They Are Important

Estate Planning, Legal News, Oklahoma, Trusts

The Problems of Successor Co-Trustees in a Trust

A creator or grantor of a normal revocable living trust usually serves as the trustee of a trust until their incapacity or death. After one of those events, a successor trustee takes over the trust to manage and administer the trust assets. Some trust creators have two children or have two people they trust enough… Continue reading The Problems of Successor Co-Trustees in a Trust

Beneficiary Designation, Estate Planning, Family Law, Life Insurance, Oklahoma, Trusts

(Minor) Children in Your Estate Planning

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

Estate Planning, Our Attorney

Call for a Free Consultation!

  Know you need an estate plan, but don't know what you need or where to start? Call our offices today for a FREE CONSULTATION with our Attorney, Penni Skillern, Esq. Our attorney takes a comprehensive and integrated approach to estate planning. Your estate plan should complete your vision, goals, values, and needs for the… Continue reading Call for a Free Consultation!

Beneficiary Designation, Estate Planning, Legal News, Oklahoma, probate, Trusts

Funding A Revocable Trust

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

Beneficiary Designation, Estate Planning, Oklahoma, probate, Trusts, Wills

Oklahoma’s Simplified Probate

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

Business, Estate Planning, Uncategorized

Exit Strategies for Small Businesses

Becoming a small business owner is a big decision. People, for the most part, begin working on operating agreements and articles of incorporation, and then move on to working on the business to make it successful and profitable. Few, if any, ever work on their exit strategy for their business from its inception. Most only start to… Continue reading Exit Strategies for Small Businesses

Beneficiary Designation, Estate Planning, Oklahoma, Oklahoma News, probate, Trusts

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

Uncategorized

Important Considerations for Business Co-Founders to Consider

New  businesses, or start-ups, often struggle later on its the business's life due to how the business was originally set up or organized. This is more often a problem with businesses with more than one founder, since at one point or another, personalities and ideas will clash between the founders or later buy-ins. Too often, business co-founders… Continue reading Important Considerations for Business Co-Founders to Consider