Most people that come into our office expect to need a "simple" estate plan. Usually, they mean a will, power of attorneys, and a living will. No trust, no tax planning, and no trust provisions for their children or other family members. Perhaps the initial motivator for this is the lower cost, but also the… Continue reading Should I Get A More Complex Estate Plan?
Tag: probate
How to Handle Titled Transportation Vehicles to Skip Probate
Most people know how to put beneficiary designations on their accounts to skip that asset from going to probate. Most of the time, it is a one or two page form that the financial institution provides you. (See more about that at our post about Beneficiary Designations). However, one type of asset that is often… Continue reading How to Handle Titled Transportation Vehicles to Skip Probate
What Happens To My Trust After I Pass Away?
Many people who create a Revocable Living Trust fail to understand what happens to the trust after they are gone (for more information about types of trusts, see Let's Talk Trusts). One of the most common misconceptions is what happens to a Revocable Living Trust after the trustmaker or "trustor," or the person who created… Continue reading What Happens To My Trust After I Pass Away?
Why Does My Will Need To Be Probated?
A lot of clients seem to be under the misconception that, if your will is valid, self-explanatory, and clear as to your intent, then it does not need to be probated. However, your Last Will and Testament is not effective until it goes through probate. It does not matter if it is clear and unambiguous!… Continue reading Why Does My Will Need To Be Probated?
A Common Error to Avoid Probate
One common scenario that estate planning attorneys encounter is clients who believe that deeding their home to their children solves the problem of avoiding probate. Most retired individual's main asset is their home, which many have paid their mortgage off. Such a situation is common for many of our clients, and the attorneys at Skillern… Continue reading A Common Error to Avoid Probate
Simple Ways to Avoid Probate
Most people know that Revocable Living Trusts are a great way to avoid probate. And if you don't, please read a previous blog about probate and how a trust can help here. On today's blog post, Skillern Law Firm is going to discuss other ways to avoid probate if you already have a trust, or… Continue reading Simple Ways to Avoid Probate
The Problems with Handwritten Wills
Oklahoma allows the probate courts to admit holographic (or handwritten) wills. There are certain considerations that are very important to consider if you think a holographic will is right for you. Today on Tulsa Estate Planning Blog, Skillern Law Firm, PLLC will help you figure out if its right for you. First, there are important, strict… Continue reading The Problems with Handwritten Wills
What is Probate and Why Should I Avoid It?
When Skillern Law Firm P.L.L.C. discusses the benefits of a will or a trust, inevitably probate comes up. We advise clients to avoid probate, since it is costly and a complicated process that can easily be avoided by a trust. Still, many clients ask us: "What is probate”? Our answer is: it depends. Basically, probate… Continue reading What is Probate and Why Should I Avoid It?
Payable On Death (POD) – Good or Great Idea?
Avoiding probate is one of the most common concerns clients have when they come to Skillern Law Firm, PLLC. One of the easiest ways any individual or family can avoid probate on their bank accounts is putting a Payable on Death (POD) designation on the account. A POD designation allows the account to pass from… Continue reading Payable On Death (POD) – Good or Great Idea?
Your life is not static, so why is your estate plan?
It is important to periodically review your will and estate plan. Life changes often require that you reassess your estate plan. Children Most parents are concerned about how their children will be cared for in the event that one or both parents suffer an accident or are incapacitated. It is important to name a guardian for… Continue reading Your life is not static, so why is your estate plan?