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
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
Twenty years ago most people would only have a handful of online passwords to remember. Today, our digital life is much different. We bank online, some have cryptocurrencies, pictures are stored in the cloud and our daily lives are interwoven with digital information. Not everyone makes plans for their digital assets after they pass away,…Read More
A family member or close friend who is concerned about the mental and/or physical capacity of a loved one may decide to seek a formal appointment as the person’s conservator or guardian. Dementia, Alzheimers or a serious illness are the top reasons for a guardianship or conservatorship. Additionally, if a child with special needs who…Read More
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
In the state of Oklahoma, if you own land in joint tenancy, you don’t have to go to probate court. However, to record the transfer of ownership, there are some specific steps to be taken once the other owner passes away. If you own an account jointly with “right of survivorship” with your spouse, and…Read More
Special needs trusts (also known as supplemental needs trusts) are an important part of the financial planning process for a special needs child. These trusts are designed to provide benefits to those with physical, psychiatric, or intellectual disabilities, and still allow them to receive government benefits including Social Security (SSI) and Medicaid. There are two types…Read More
Kevin has been recognized by expertise.com as a ‘Best Probate Attorney in Oklahoma City’ for 2022 for the third consecutive year. Kevin has over 35 years of experience in probate matters, including but not limited to oil and gas probates across the entire State of Oklahoma. Kevin has helped mineral, overriding royalty and working interest…Read More
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
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
