It's important to understand the difference between a guardian and someone with power of attorney. If you or someone you love in Oklahoma doesn't have the capacity to take care of themself and needs someone else to make important decisions for them, it's helpful to...
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Estate Planning
What happens if I die without a will in Oklahoma?
A will gives directions about dividing and distributing your estate after death. Other parts of your estate plan also provides decisions about other issues, such as personal representation and who will serve as the guardian for your children while they are still...
Estate plans and remarriages
Blended families often create new joys for both the parents and the children. However, bringing new members into your Oklahoma family also brings new challenges for your financial plans. Specifically, a new blended family should involve updates to your estate plan....
The importance of regularly reviewing your beneficiary designations
Designating beneficiaries is a crucial part of estate planning in Oklahoma. However, many people overlook this task as insignificant. If you manage your beneficiary designations properly, you will ensure that your assets are distributed according to your wishes after...
How to talk to your family about your estate plan
No Oklahoma resident wants to talk about death, let alone their own death. However, addressing what happens to your belongings and assets is essential to create a good estate plan. Having an estate plan can take a lot of pressure off of your family, especially when it...
What is asset titling in estate planning?
Estate planning is important for all Oklahoma residents with substantial assets. It should be done early to protect your assets and your preferred beneficiaries if the worst were to happen. One way to do so is through the process of asset titling. Asset titling The...
What are three major compoents of estate planning?
Estate planning in Tulsa, Oklahoma can be complicated. Part of this difficulty is learning the different elements of estate planning and how they differ from each other. While certain terms and concepts may seem similar, they can differ in practice. Overall, it's...
Benefits derived by advanced estate planning
A will allows you to ensure that a trustee distributes your assets according to your wishes. Advanced estate planning takes this foresightedness one step further. It's a suitable strategy for anyone in Oklahoma who wants to protect their property, reduce their tax...
Why you should consider an IDGT
The use of an intentionally defective grantor trust (IDGT) may be an efficient way for Oklahoma residents to transfer wealth. This is because assets held in the trust don't count toward the final valuation of the grantor's estate for tax purposes. Furthermore, any...
Tips for choosing a guardian
If you don't choose a guardian for your child, an Oklahoma judge may do so on your behalf in the event that one is needed. Although appointing a guardian is a relatively easy process, there are many details to consider before making your choice. Traits of a quality...