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
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
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
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?
Most couples, especially married couples, get their estate planning done together and draft them accordingly. Most of the time, married couples will get a Family Trust, rather than two individual Trusts, and all the beneficiaries/executors/trustees are listed as each other. After the unfortunate event of a divorce, it is extremely important to get your estate… Continue reading It’s Important to Update your Estate Planning After A Divorce
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?
There is currently a legal battle in the federal courts regarding a Federal law mandating that marriage is between a man and a woman. EdiTh Windsor challenged the federal law in DOMA (Defense Of Marriage Act) as unconstitutional on equal protection grounds. The U.S. District Court for the Southern District of New York recently held… Continue reading Edith Windsor’s Fight for Same-Sex Marriage Recognition
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?
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?
It is a new year, and everyone is listing things that they want to accomplish in 2012. You might be interested in a new healthy eating regimen, or workout schedule, but why not add updating your estate planning to that list? Twenty-twelve is the year of the estate plan! If you haven't established a way to… Continue reading Resolutions
