In Estate Planning people often turn to trusts as a way of passing assets to avoid probate. One of the many trusts available is the Irrevocable trust. Irrevocable Trusts are trusts that cannot be altered or ended once they are executed. Unlike revocable trust, they don’t allow for modification and termination if the trust creator has to make changes. Although an irrevocable trust…
Probate in Oklahoma is the judicial process of determining who is entitled to receive the deceased person’s property. Whether the person died with a valid will or died without a will, their estate must go through probate in Oklahoma. This is an important process because it ensures that the person’s property is properly distributed to those who are entitled to…
Sometimes a person wants to donate money to a charity in the event of their death. In fact, about 5% of Americans choose make charitable donations in wills and trusts. The law provides several ways for this possibility. This article will explain a few and what the perks are in donating this way. Charitable Donations in Wills and Trusts When…
When you are creating your estate plan, you will come across the idea of using “trusts”. There are several different types of trusts that estate lawyers will use as tools in creating your plan. Of course, you have the ability to choose if you want a trust and what type of trust you would like to include in your plan. …
Step Children and Estate Planning for after you die require certain things be done. Blended families and step-children are a common occurrence in American families today. This makes up over a quarter of a million families and children who are living with non-biological parents. With these statistics in mind, it is important to know how the law affects step-children and…
Holographic Wills in Oklahoma are valid if done correctly. Life expectancy in Oklahoma is 73 years old. A large percentage of people over the age of 65 do not have a valid will or trust in place. Sometimes, a will is put in handwriting before a person’s death though. This is legally a holographic will. Oklahoma recognizes holographic wills in…
Revoking a Tulsa will with Oklahoma divorce is one way to revoke a will. As we go through life and acquire more assets estate planning becomes more important. More importantly then acquiring more assets is the need to protect our family members even after we’ve left this earth. An important part of estate planning in Oklahoma is understanding when parts or…
Planning for incapacity is never a pleasant task. But there is significant risk in delaying the development of such a plan if you should become incapacitated. Most people associated this type of prolonged loss of consciousness may be elderly people suffering from mental ailments. However, young people can suffer the same type of incapacity. It is impossible to prevent temporary…
Free Consultation!