While no one wants to envision a worst case scenario when it comes to their health, life does happen, and if you become incapacitated, either for a short time, or long term, giving someone the power to make decisions on your behalf can be difficult if a plan has not been implemented beforehand. Whether you… Continue reading “Who Can Handle My Affairs If I Get Sick or Injured?”
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?’”
These types of assets are referred to as digital assets. Digital assets are your personal e-mail accounts, online bank and brokerage accounts, frequent flier accounts, Facebook accounts, and other social media websites. There are four main categories of digital assets: Personal assets Social media assets Financial assets Online business accounts While you may not… Continue reading Estate Planning for Your Facebook Account?
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
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
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!
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
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
One of the most prominent cases of Living Wills or Advance Directives was the Terri Schaivo case in the early 2000s. It is prominent for Living Wills, in that Terri Schaivo did not have one, and her situation caused a legal battle that lasted years and costed thousands of dollars for her family. In this… Continue reading Avoiding the Terri Schaivo Case – The Oklahoma Advance Directive
One of the most common questions I receive from clients is the question of beneficiary designations and how they relate to their Will or Trust. One important thing that must be said is that beneficiary designations, including IRA's, life insurance, annuities, bank accounts, etc., go outside probate and the trust. What is said in the… Continue reading Beneficiary Designations