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Estate planning often includes creating trusts to manage and protect assets, and one common option is an irrevocable trust. Unlike a revocable trust, which can be changed or revoked by the person who created it, an irrevocable trust is designed to be permanent. Understanding how irrevocable trusts work in Oklahoma can help you decide if one fits your financial and estate planning goals. What […]
A revocable trust is a very useful tool in Oklahoma estate planning. When planning for the future, many Oklahomans want to ensure their property is managed smoothly during their lifetime and passed efficiently to their loved ones after death. One of the most popular tools for achieving this is a revocable trust, also known as a living trust. What Is a Revocable Trust? A […]
Understanding the difference between a will and a trust can help you make the best choice for your assets, your family, and your peace of mind. When it comes to planning for the future, many people ask: “Should I have a will, a trust, or both?” While both documents are important estate planning tools, they serve different purposes and offer different benefits, especially here […]
In Oklahoma, a family member does not need to be your power of attorney. A Power of Attorney allows you to designate someone to make decisions on your behalf if you become unable to do so, especially in terms of managing your financial and medical affairs. A common question is whether the person you designate as your POA needs to be a family member. […]
A comprehensive Plan for Care and Treatment is important in guardianship cases, particularly those involving minors or incapacitated adults. This plan outlines how the guardian manages the well-being of the ward (the person under guardianship) and ensures their needs are met. Anyone seeking guardianship must understand what a Plan for Care and Treatment involves, as it demonstrates to the court that the guardian is […]
Disinheritance, the act of excluding someone from receiving assets in a will or trust, is a sensitive yet crucial aspect of estate planning. In Creek County, you have the right to decide how to distribute your assets, but you must follow specific laws and procedures to ensure that disinheritance is legally valid. Understanding how disinheritance works can help you create an estate plan that […]
Updating a will is an essential step in ensuring that your estate plan accurately reflects your current wishes and circumstances. While updating the will itself is crucial, it is also important to notify certain individuals and entities about the changes. Proper notification helps prevent confusion, disputes, and potential legal challenges after your passing. This article outlines who you should notify when updating your will […]
Powers of Attorney (POA) are crucial legal instruments in estate planning that grant someone else the authority to act on your behalf in specific situations. In Oklahoma, POA’s play a significant role in managing your affairs if you become incapacitated or unable to make decisions. Here’s an in-depth look at what Powers of Attorney are, how they function, and their importance in estate planning. […]
Trying to challenge a will in Oklahoma involves a legal process where an individual contests the validity of a will during probate. Due to the extremely emotional nature of these cases, knowing exactly what they mean is very important. Here, we’ll discuss who can contest a will, the requirements you must meet, and what to expect during the process. Grounds for Challenging a Will […]
There are certain things that are essential to your Estate plan in Oklahoma. An effective estate plan should include a minimum of the following 5 elements to ensure your assets and wishes are managed and distributed according to your desires. Depending on what assets you have and how you want them passed when you die there may be other requirements but this is a […]