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Things to Consider Before Accepting Your Inheritance

The news that you will be receiving an inheritance is often bittersweet because it means that somebody close to you has passed away. But you might also have mixed emotions about your inheritance for reasons that have to do with the actual accounts or property you are inheriting. Accepting an inheritance is a free and […]

3 Reasons for Considering a Family Office

A family office provides management services to a family whose businesses and wealth have become too complex and significant to manage by themselves. A family office often combines investment, legal, and tax services along with lifestyle and administrative services, such as making travel arrangements or coordinating the use of a vacation property. In addition to […]

How to Protect Yourself from Claims of Self-Dealing When Serving as a Trustee

What Is self-dealing in trust administration? A trustee usually has quite a bit of discretion in their management of a trust’s accounts, money, and property. At the same time, as a fiduciary, a trustee also owes the trust’s beneficiaries a duty of loyalty, which prohibits the trustee from self-dealing. In the simplest terms, self-dealing happens […]

Red Flags When Hiring a Professional to be Your Trustee

When you form a trust as part of your estate plan, one of the most important decisions you will make is who will oversee the trust’s management when you are no longer able to manage it (also known as your successor trustee). Because a trustee’s work may be time-consuming, complicated, and risk liability, many people […]

How to Prove You Are Mentally Competent for Your Will or Trust

Although we would all like to believe that our family and loved ones will honor our wishes as expressed in our estate plan, contests are more common than you might think. Sometimes, a family member does not receive what they thought they would after a loved one passes away. To try to get what they […]

Statements of Intent or Purpose in Your Oklahoma Estate Plan

The reasons you create a trust are certainly special and important to you, but your intent or purpose for creating a trust can also have significant legal ramifications. For this reason, it is often critical that an Oklahoma trustmaker express in writing their purpose for creating the trust. There are essentially two different ways of […]

What the FAFSA Changes Mean for Grandparents

For grandparents who want to leave a legacy to their grandchildren, the gift of a 529 college savings plan is an option. Not only can opening a 529 plan account help a grandchild with educational expenses, it can also help grandparents with their estate planning goals. In the past, grandparent 529 plans had the potential […]

The Power of Charitable Giving in Oklahoma Estate Planning

Estate planning is not just about protecting and distributing assets; it’s also an opportunity to leave a lasting impact on the causes and organizations that matter most to you. By incorporating charitable giving into your estate plan, you can make a lasting impact on organizations that promote education, healthcare, arts and culture, social services, and […]

Navigating the Medicaid Maze

As our population ages, navigating the complex realm of elder law becomes increasingly important for families and individuals seeking to protect their loved ones and secure their financial future. Among the many aspects of elder law, Medicaid plays a crucial role in providing healthcare coverage and long-term care options for seniors.   Understanding Medicaid: Medicaid […]

When a Gift May Not Be a Gift

It is better to give than to receive. But if you give a gift above a certain amount, you might end up owing money to the Internal Revenue Service (IRS). The federal tax code has very specific rules about how much you are allowed to transfer to others each year—and over the course of your […]