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Category: Estate Planning

How to prepare to receive an inheritance

The passing of a loved one is a stressful time for anyone. Add an inheritance into the mix and relationships between family members can add even more stress. One thing is certain; receiving an inheritance without proper planning is the best course of action. Below are some things to consider before moving forward with an…Read More

Consider caregiving costs when planning for retirement

Financial planning for retirement normally includes some travel and more time to be social with friends. However, most older adults do not allow for caregiving in their retirement budget – whether it’s hiring a caregiver to care for a loved one or being a caregiver themselves. Planning for Care When caregiving needs become a priority for…Read More

Wills and trusts for military families

Members of the military have a more dangerous occupation than the average American. Because of this, service members should make estate planning a priority. Make a plan and prioritize estate planning now so in the event that something happens to you, your loved ones will have clear instructions for your assets. Letter of instruction A…Read More

Estate planning during periods of market volatility

The stock market entered bear market territory earlier this year. The combination of higher interest rates and inflation, coupled with the covid pandemic, has caused the 20% market decline that qualifies the “bear market” conditions. When it comes to estate planning, this environment creates opportunities for some individuals and challenges for others. Opportunities Individuals can…Read More

Estate Planning that Includes Individuals Diagnosed with Mental Illness

Mental illness in the United States is more prevalent than many people realize. This type of  illness is underfunded in the healthcare sector, infrequently addressed in legislation,  and rarely discussed openly. It’s no surprise that mental illness is seldom mentioned in estate planning.   There are some important issues to consider when planning an estate that involves a…Read More

7 Estate Planning Pitfalls to Avoid

Estate planning is not a one-size-fits-all type of process. The path taken depends on the amount of assets in the estate, the goals for the estate and the complexity of relationships within the family. Unfortunately, it takes a big event like a health scare to shake us out of our procrastination with estate planning to…Read More

3 Things you Need to Know About Estate Planning After Divorce

Most recently divorced people think their ex-spouse is the last person they want to inherit their assets when they die. Additionally, they do not want that person to make life and death decisions for them. But that is exactly what can happen, and often does, when estate planning documents are not updated. Beneficiary Designations Assets…Read More

3 Great Reasons to Review your Estate Plan

The best estate planning attorneys advise heir clients that estate plans should be reviewed every 3 to 5 years and after any major life events. All estate planning documents should be reviewed and not just the will. Estate plans the offer the most protection for an estate will include a will, a durable power of…Read More

Common Law Marriage in Oklahoma and Estate Planning

Estate planning is important for couples in common law marriages because this type of marriage is unique and not fully understood. A common law marriage is created when a couple lives together and represents themselves as a married couple. No ceremony or licensing is required to establish a common-law marriage, although a couple may be…Read More

The Reasons Why Someone May Contest your Will

An updated will and testament is more important right now than ever before. The last thing anyone wants is a will that is created poorly or is not updated regularly. These wills are vulnerable to being contested or being formally objected to. A will contest can wreak havoc on both your finances and your family…Read More