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. Implementing strategies to prevent…
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 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…
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…
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…
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 you…