My family will know what to do with my estate after I die! I don’t need a will or trust.

I’ve heard it many times in my practice. “My family knows what I want done with my estate. Making a will or trust will just waste time and money.” The only time that doing absolutely no estate planning at all makes sense is when you have absolutely nothing – no bank account, no car, no house,

By |January 17th, 2018|

My Spouse Passed Away, Is Our House at Risk of Being Taken to Pay His Debts?

Unfortunately, it often happens where a loved one passes away leaving a spouse, and maybe even minor children This is a difficult situation, and one that can be even more stressful when the surviving spouse is worried about how any debts the deceased person left will affect the family. One concern we often hear involves

By |January 15th, 2018|

Joint Tenancy May Not Be the Best Option

Joint tenancy is a form of ownership of property when there is more than one owner of the property. A joint tenancy can have two or more owners. Joint tenancy is distinct from tenancy in common because joint tenancy has rights of survivorship. Rights of survivorship means that when one of the joint owners die,

By |January 2nd, 2018|

What are the Duties of a Trustee in Oklahoma?

A trustee is a person or entity that manages property owned by a trust under the terms of the trust instrument and the laws of the state where the trust is located. The trustee is charged with managing the property for the best interests of the trust's beneficiaries. Serving as a trustee requires a certain

By |December 28th, 2017|

Where Will My Meeting of Creditors Be? (Western District of Oklahoma)

One of the common questions we are asked during the bankruptcy process concerns the Meeting of Creditors. One of the first questions we are asked about the Meeting of Creditors is, “Where will it be?” The following list, provided by the United States Department of Justice and the United States Trustee Program will allow you

By |December 23rd, 2017|

Funding Your Revocable Trust

An important step in the estate planning process is funding your revocable trust. Remember that a significant advantage of revocable trusts is avoiding probate proceedings. An unfunded or partially funded trust doesn’t allow your assets to completely avoid probate, because only assets owned by the trust at your death or payable to the trust at

By |December 22nd, 2017|

My Spouse Passed Away, Is Our House at Risk of Being Taken to Pay Their Debts?

Unfortunately, it often happens where a loved one passes away and leaves a spouse, and maybe even minor children, behind. This is a difficult situation, and one that can be even more stressful when the surviving spouse is worried about how any debts the deceased person left will affect the family. One concern we often

By |December 21st, 2017|

Update Your Estate Plan and Tax Plan After a Divorce or Separation

Your Estate Plan After a Divorce Your estate plan is the strategy you use to decide who is going to receive and manage your property after you’ve passed away. The point of setting up an estate plan is to ensure your wishes are followed after you die. Undoubtedly, many people’s wishes about who is going

By |December 21st, 2017|

Summary Administration in Oklahoma

When a loved one passes away the last thing you want to worry about is probating their estate. Unfortunately, this is often a necessary evil. Depending on the value of your loved one’s estate, the Oklahoma probate process can be relatively quick and painless by Oklahoma standards. The normal Oklahoma probate process can take anywhere

By |December 19th, 2017|