The potential for probate litigation in Oklahoma should inform the type of state planning you engage in. Going through probate court can be intimidating. Probate is the process your loved ones must go through to access your assets after your death. It is a court process where an induvial is appointed to locate all the assets of your estate and…
A well drafted buy-sell agreement for a business in Oklahoma is critical for transferring business assets. As a business owner, you know there are multiple ways to enter contracts with other business owners. You do it everyday as you run your business. You may be looking to outsource your payroll or find an induvial to deal with shipping products for…
Business Succession is an important part of well imagined estate planning. Life can change in the blink of an eye. One minute your life is excellent and exactly how you thought it would be. The next moment, you or a loved one needs immediate medical attention and may be recovering from a significant unplanned operation; you may be left to…
In order to sell property in a probate you need a court order signed by the Judge in the case. Oklahoma probate can be an overwhelming process, especially if you are unfamiliar with it and it is your first time. In the probate process, you may be appointed by the probate court as the personal representative of a loved one’s…
A special needs trust In Oklahoma is a part of a well planed estate. It is crucial to have an estate plan to help ensure that your belongings and assets go to the people you want them to after you’ve passed away. When considering what documents you’ll need to execute as part of your estate plan, it is essential to…
A gun trust in Oklahoma is a legal document commonly used in estate planning that helps to protect gun owners and their Second Amendment rights. A gun trust facilitates the lawful purchase, possession, and sale of class three weapons. Class three weapons include machine guns, submachine guns, suppressors or silencers, and other destructive devices. Like many other trusts, a gun…
The final accounting In Oklahoma probate case can be said to be the beginning of the end of the case. From its begging to its end a the probate process is very technical in the order and format the pleadings in the case are filed. The process and the way things go is also impacted by the size of the…
Estate planning and probate in Oklahoma is governed by state law statutes. Its designed to help people distribute their assets when they pass. As a society, we respect the wishes of the deceased. As a result, the law requires us to engage in the probate process when a friend or family member passes away. During this process, someone is appointed…
An irrevocable trust is a great estate planning tool. When you decide to strategize your estate plan, your estate planning attorney might recommend setting up a trust. A trust establishes a relationship where one party (the trustor) gives another party (the trustee) the right to hold assets for the benefit of a third party (the beneficiary). There can be advantages…
There are different degrees of arson in Oklahoma. The degree a person is charged with has a big impact on potential jail time if any. Setting fire to a building or structure in Oklahoma can land you a criminal charge called arson. Even if you own the property, you could be convicted. If you have been arrested and charged with…
In Oklahoma and many states across the United States, the state legislature has provided a way for families with loved ones who have recently passed away to move some of their assets without needing to go to probate court if they meet certain characteristics. These forms are sometimes called Small Estate Affidavits in Oklahoma estate planning. It is called an…
Intestate distribution for out of wedlock children can be different than it is for children born to a marriage. In Oklahoma, the government has a default will for you if you die without one. This process of using the government’s will for you is called intestate succession. Your estate may go through probate court, and a judge will help your…
To transfer bank accounts when you die there are a few different methods available in Oklahoma. A will works as a way to transfer ownership of an asset like a bank account from someone deceased to someone who is living. The will or Estate plan is used as a guide for a probate court judge to help determine where the…
Probate delays in Oklahoma are frustrating. Probate is the Court’s process to distribute a deceased person’s estate. The probate process can be a difficult time for families. Emotions are running high, money is involved, and everyone is on edge. This article will describe some of the most common probate disputes and how these disputes might delay the probate process so…
Estate planning for blended families in Oklahoma continues to be more important. In the United States, the current divorce rate for first-time marriages is almost fifty percent. Of the fifty percent of marriages that end in divorce, most people re-marry. Bringing two different families together can be difficult and result in many emotions for both sides of the family. These…
Probate letters of administration in Oklahoma deal with who is responsible to administer a persons estate. During our lives, dealing with the loss of a loved one is, unfortunately, inevitable. Administering the estate of a deceased family member can be an arduous, complicated, and emotionally draining task. Many technical legal terms are used that complicate a probate process with which…
Paying estate debts In probate in Oklahoma comes out of the estate itself. If funds are available they are paid by the executor as part of their probate duties. Oklahoma’s Probate Code details the procedure for paying the creditor claims of a decedent. A question often asked by someone who is faced with going through probate on behalf of a…
How Long Does Probate Take in Oklahoma; The average time varies greatly depending on the assets and liabilities of the decedent and can take anywhere between four months to over a year. In Oklahoma, probate is required when a person dies as the sole owner of real estate or fails to name a designated beneficiary on their insurance policies, investment…
You can remove an Executor in a probate case In Oklahoma but there are things that must be done first. Imagine this: your loved one dies and leaves behind a will. The will named a specific person to be its executor. However, you and other relatives begin questioning the integrity of this executor. You believe that this executor isn’t fulfilling…
A living Will is part of any well prepared estate plan in Oklahoma. Are you interested in estate planning but completely lost on where to begin? Are you confused as your try to piece together all the legal jargon and make sense of what everything means? If so, don’t worry. You’re not alone. As people acquire more wealth and age,…
Oklahoma intestate law is what takes over by default. Creating a will is so important because if you don’t have one in place when you die, the state will decide what happens to everything you own. A will or a trust is a legal document that explains what to do with your property after death, among other things. You die…
A properly organized and operated business offers levels of legal protection for its owners. This is a great benefit but these protections are limited in scope and area. A corporation or an LLC can provide the owner a liability shield from the company’s actions and debts. It does this while it remains an asset on the individual’s personal balance sheet….
Saying “I do” typically comes with a ring, but it doesn’t always come with forever. So here you are, preparing for a divorce, and you realize that there’s so much to do. You realize that planning a wedding was much easier than planning for a divorce and the new estate planning that comes with it. The thing about estate planning…
An Oklahoma power of attorney is a powerful right one person gives to another. There are times when you may need to authorize someone to do something that you would normally do yourself but can’t for some reason cant do. This includes things like an illness or other incapacity. A legal document called a power of attorney allows you to…
Intestate distribution In Oklahoma impacts who gets what in a probate court. Losing a loved one is hard. It’s even harder when the family begins bickering over rights and inheritances. Did the deceased leave behind a will or did they die without a will? How do you know, for sure, who gets what? If you’re in Oklahoma and find yourself…
Executor duties in Oklahoma probate consist of much more than we normally think. Losing a loved one is painful. And now your loved one’s estate is going to probate court. There is all this talk about executors and administrators. Because you’re grieving, much of it is going over your head. Maybe you’re wondering whether there’s a difference between the two…
Second Marriage Estate Planning requires a more complex look at your current estate plan. A second marriage could be great for you. Many people find that after a prior marriage a second marriage will provide them personal comfort. But, the estate planning gets more complicated particularly if either of you have any children from your previous marriages. Estate planning is…
An Inherited IRA In Oklahoma Bankruptcy may be at risk if you file a chapter 7 bankruptcy. When you file a bankruptcy in Oklahoma certain assets are considered exempt from creditors and the court. If you have certain retirement accounts or Trusts they may be exempt assets in the event that you file a bankruptcy. Although your personal IRA and…
Pour-Over Wills In Oklahoma Estate Planning are one of many useful tools in the distribution of property after you pass away. The type of tools a person uses in their estate planning really depends on what property they have to distribute to heirs. It also depends on the type of trust they have and other probate avoidance tools at their…
Deciding on a Living Trust or a Will In Oklahoma depends on a few different things. When it comes to planning for your incapacity or death, you will naturally come across a number of terms including living trust or a will. These instruments play vital roles including allowing for the distribution of your assets to your loved ones according to…
The benefits of Estate Planning in Oklahoma are many fold. An estate plan provides individuals with a number of benefits including the opportunity to dictate what will happen with their assets at their incapacity and death. Completing a will, trust, and other estate planning documents can give you the peace of mind in knowing that you – rather than the…
It is possible to contest a Will in Probate Court in Oklahoma. Its best that you do the will contest as soon as possible while all the evidence is fresh. There are several basis for a will contest from the will not meeting statutory requirements down to out right fraud. The contest is filed in the Court where the probate…
Adult guardianships in Tulsa require the signature of an Oklahoma Family Court Judge before its granted. An individual who is at least 18 years of age, and is impaired due to physical or mental illness or disability, drug dependence, or other such reasons – which results in them not being able to care for their physical or financial safety, is…
Undue Influence In Estate Planning is a fairly common occurrence. Estate planning means much more than mitigating the tax liability associated with transferring assets to others at your death. It also involves choosing one or more fiduciaries (e.g. family members) to manage your financial and healthcare matters at your incapacity and death; choosing who will be responsible for administering your…
The probate process in Oklahoma is governed by the states probate laws. Each state throughout the country has its own rules for how probate works. The probate process in Oklahoma is kick started in the majority of deaths occurring in the state. Probate becomes necessary for facilitating the transfer of assets of a deceased and winding up their estate unless…
In an Oklahoma Trust the difference between a beneficiary and a trustee is important for deterring rights and duties. Under Oklahoma estate laws, a beneficiary in a Trust is an individual that will enjoy the Trust’s assets. In legal terms, beneficiaries are considered the Trust’s “equitable owners.” The beneficiaries may either receive the assets and cash from the Trust outright…
Oklahoma Spousal Lifetime Access Trust is a great tool used to shelter assets. A Spousal Lifetime Access Trust (SLAT) is a written irrevocable trust that one spouse establishes for the benefit of the other. The goal of a SLAT is to transfer assets into a trust that is available to provide some financial assistance to the spouse, but to exclude…
To transfer a deed when parents die often times involves filing a probate in Oklahoma. Many times, parents have a revocable transfer on death deed or a trust that keeps the family home out of the probate process. However, if your parents Estate Planning did not get this done, you would need to visit the local county assessor’s office in…
If someone makes a will and that person dies, you must probate a will in Oklahoma to determine if its valid. A last will and testament (known more simply as a will) is a legal document which lays out instructions for what to do with some or all of your assets at your death. Some of your assets that might…
Asset Protection in Oklahoma Estate Planning is not that difficult. Imagine the feeling of having your entire life savings vanish at the hands of your creditors or judgement holders. You might own a business where the risk of getting sued is greater than with other professions. Without adequate asset protection planning, a lawsuit or other unfortunate event – whether caused…
An Oklahoma adult guardianship is the means Courts use to allow an adult to handle the legal affairs of another adult. An adult guardianship is also know as a conservatorship. The two terms are the same and used interchangeably. The unfortunate truth is that as our society ages we find our-self needing an increased number of consevatorships. This is for…
In Oklahoma Hand Written Wills Are valid but they must satisfy certain requirements. In Oklahoma hand written wills are called holographic. Holographic wills are wills that are completely handwritten by the person wishing to will their property away when they die. Some people prefer to hand-write their final wishes because its easy and personal. Not all States allow for holographic…
Dying without a will in Oklahoma is costly. According to AARP, an unfortunate 60% of Americans do not have any estate plan or will in place to dispose of their property when they die. For those dying without a will in Oklahoma, or any other estate plan to dispose of their property, they have died intestate (not on the highway)….
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…
A Transfer on Death Deed in Oklahoma Estate Planning is an instrument to transfer or convey real property upon the death of the owner. This allows the owner to transfer their home upon death. They do this without the need of an Oklahoma will or intestate distribution. People have different reasons for using Transfer on Death Deeds in lieu of…
The type of trust you choose is important and there are many different choices. One type is the Oklahoma Charitable lead trust. This is an irrevocable trust that once established the donor will not be able to modify, terminate, or amend the terms of the trust. The purpose of a charitable lead trust is to provide support to one or…
Adoption and Estate Planning in Oklahoma is a common concern. One of the questions people have is if the person adopted is entitled to inherit from both their natural parents and their adopted parents. Still more questions involve if the adopted person can inherit property through a will or by intestate distribution. If you’ve got questions regarding adoption and estate…
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…
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…
Oklahoma ancillary probate is the process used to distribute property of a person that dies while a resident of one State but has property in a different State. When someone passes away the Probate Court in the State they reside is the state with jurisdiction over their Estate. This means that the Home State is the one that decides if…
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 and probate in Oklahoma is understanding…
Our Tulsa Probate Lawyers will tell you that probate doesn’t have to be hard. Probate is the legal process by which the court, oversees and directs the distribution of assets and liabilities to beneficiaries. Thus, the probate process is the means by which legal title to real or personal property transfers to heirs or beneficiaries. The distribution of one’s property, whether they had…
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…