Like we have discussed before on a previous post, every adult needs a Last Will & Testament or a Revocable Trust in place. However, more than half of all Americans have no planning in place! For simple estates, or at least the bare minimum for everyone, a Last Will & Testament is a good start. A Will… Continue reading Always have an attorney make your estate plan
The attorney of Skillern Law Firm, PLLC, Penni Skillern, recently had a baby girl in January of 2015. Yes, that is why there was a lack of blog posts and updates on our website. The first thing she did when she was able to go back to work was update her estate plan to reflect… Continue reading Estate Planning for Your New Expanded Family
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
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?
Today on the Tulsa Estate Planning Blog, we're going to explain the difference between a living trust, a revocable trust, and an irrevocable trust. Specifically, what are the advantages and disadvantages of the types of trusts. So let's get started. A living trust and a revocable trust are usually, if not always, the same thing. … Continue reading Living, revocable, and irrevocable. Let’s talk trusts.
Lions, tigers and bears! Oh my! Sometimes thinking about estate planning is as scary as a pack of wild animals. Understanding wills and trusts might make one feel as if they aren't, perhaps, in Kansas anymore, but the differences and similarities are easy to learn. Let start small. Wills and trusts both dispose of property… Continue reading The Difference Between A Will And A Trust