The probate process is generally complex and understanding what to expect in the coming years is crucial for effective estate planning. Here’s our overview of the current Oklahoma probate process. How is Probate Initiated? When an individual passes away, proceedings for probate begin with filing a petition in the district court in the county the…Read More
Owning a rental property can involve complex legal, financial and strategic decisions. Of those crucial choices is selecting the appropriate business entity. If you are one of many homeowners investing in a rental property, choosing the right business entity can provide significant advantages in terms of liability protection and tax benefits. Read our quick guide…Read More
In the context of estates, when a person dies, a probate or estate proceeding is often commenced in the county in the state where the decedent resided at the time of his or her death. This proceeding is often referred to as the “domiciliary probate.” However, when a non-resident decendent dies leaving real property or…Read More
Planning is essential in life and planning your estate now while you are able is necessary. Before you pass, you will want to ensure that your property is properly disposed of with some type of estate plan in place. Read on to learn more about the 5 reasons you should have a living trust. What…Read More
Most people do not realize that you need an estate plan regardless of how much money you have in the bank. Estate plans and wills ensure that your assets will go to the intended heirs and not the government. Any unclaimed estates become the property of the government after a specified amount of time. A…Read More
Money troubles are typical among people who are beginning to experience cognitive declines. Studies show that many people start losing the ability to manage finances and make sound decisions as their memory, organizational skills and self-control falter long before they receive a dementia diagnosis. Unfortunately, banks are slow to introduce guidelines that protect the older…Read More
Fortunately, the Oklahoma legislature has passed a summary administration law with the goal of reducing the time and expense of a regular probate estate. This summary proceeding can be used for distributing real property and oil and gas interests. In order to qualify for summary administration, the decedent’s probate estate must meet one of the…Read More
Typically, when a person dies with a will, they have an executor who was named in the will. This person is responsible for being sure that the deceased’s money and property is given to the right people and the debts are paid. Once a person passes away, the executor should file the will in court…Read More
The probate process is a court-supervised process of authenticating the last will of a deceased person. The process is required to pay the final bills and distribute the decedent’s estate. If there is no will, the probate process looks similar to an extent, but there are significant differences there too. Also, the probate process varies…Read More
A basic tool in any person’s estate planning is the will, which usually addresses not only your property and assets but also dictates who will care for minor children if both parents pass away. Wills aren’t really the best and final option for every estate, especially given that probate must occur before any assets are…Read More
