When it comes to estate planning, most people immediately think of wills and trusts. While these are fundamental elements, an estate plan can also include various other components that may not immediately come to mind. Including these unexpected aspects in your plan...
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Estate Planning
How to choose a guardian for your children
Planning for the future involves making some difficult decisions, especially when it comes to your children's well-being. A necessary part of estate planning involves selecting a guardian and a backup guardian for your children. You will trust the care of your...
Strategies to prevent loved ones from inheritance mismanagement
Generational wealth transfer is a significant component of financial planning. It ensures that hard-earned wealth benefits loved ones and future generations. However, concerns often arise about the ability of inheritors to manage their newfound wealth wisely....
Should your children receive an equal inheritance?
A will allows you to stipulate where assets held in your Oklahoma estate go after your passing. For instance, if you have children, you can dictate that they all get an equal share of funds in a bank account or the title to your home. Of course, there is no...
The difference between guardian and power of attorney
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...
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...