Dispelling 5 common myths about probate
In Oklahoma, probate is a court-supervised legal process that occurs after a person dies. It ensures the payment of the deceased’s debts and distribution of assets to beneficiaries as specified in their will. If there is no valid will, state…
What is the Corporate Transparency Act?
The Corporate Transparency Act became effective on January 1, 2024. Yet many people are still unaware of how it changes financial and reporting obligations for specific business owners. If you run a company, it is important to understand how this…
How to avoid a contested will
Will contests occur when your heirs believe there are issues with your will. For instance, an heir may petition the court due to suspicions about coercion. They may also assert that there’s a more recent version of the document. No…
What are the difference between wills and trusts?
When planning for the future, it is important to consider how other people will distribute your assets after you die. Two common legal tools used for this purpose are wills and trusts. While both serve similar purposes, they have distinct…
Advantages of a revocable living trust
A revocable living trust in Oklahoma is a valuable tool for individuals to manage their assets. It protects a person’s assets both during their lifetime and after they pass away. A revocable living trust is a legal arrangement in which…
How a limited liability limited partnership works
Business law changes frequently, sometimes adding more business structures to the existing roster of types that you can form in the state of Oklahoma. A recent addition is the limited liability limited partnership. An LLLP provides the owners of the…