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Category Archives: estate planning

What is a Health Care Directive?

What is a Health Care Directive? It’s a legal document that is commonly part of an estate plan. It can include instructions from you to your future medical providers, but may also be called, or include, a health care power of attorney. It typically involves the appointment of a health care agent. Who Should I […]

Can Inherited Assets be Seized in a Divorce?

Shocking to most people, your retirement accounts can be seized once they pass to your loved ones. During your lifetime, your retirement funds have asset protection, meaning they can’t be taken in a lawsuit. Unfortunately, as soon as retirement accounts are inherited, the protection evaporates. This means your hard earned money can legally be snatched […]

Estate Planning: Treating Your Loved Ones Fairly or Equally?

Depending on your parenting philosophy, you will have to decide whether you want to treat your children or grandchildren equally or fairly in your estate plan. Treating your loved ones equally means that they all receive the same amount; treating them fairly means that your loved ones receive money and property according to their individual […]

Bankruptcy’s Effect on Estate Planning

Bankruptcy may be one of the last things on your mind when you are creating an estate plan. Fortunately, the number of bankruptcy filings has declined over the past several years, but there were still 544,463 bankruptcy filings in 2020. What happens to your estate if you file for bankruptcy protection but die while still […]

Estate Planning: Should You Wait?

Should you wait to do your estate planning until you know who should get your money and property? Based on our experience with numerous probate cases, the answer is no. While you may not be 100 percent sure who should receive all of your money and property right now, that should not discourage you from […]

Estate Planning for Military Families

Military families need to consider special estate-planning issues that others do not. This is particularly true when one or more family members are deployed overseas. Beyond this, members of the military have access to special benefits and resources. This can become complicated and, for this reason, it is important to seek special help if you […]

3 Estate Planning Mistakes Oklahoma Farmers Make (and How to Avoid Them)

Farming is more than a means of livelihood – it is about preserving a legacy and unique way of life. Unfortunately, many farmers fail to make an estate plan. The farm that has been passed down for generations then ends up being sold and converted into non-agricultural use, cutting the legacy short and ending the […]

Maintaining Control of your Estate AND Keeping Spouse #2 Happy

Estate planning for couples in a second or subsequent marriage can be tricky, especially if their estates are disproportionate. One solution for allowing the well-to-do spouse to maintain control of his or her property and wealth–but to also maintain marital harmony–is the “Lifetime QTIP Trust.” In the estate planning world a “QTIP Trust” (qualified terminable […]

How to Create a Valid Will in Oklahoma

In light of the pandemic, many Americans have become aware of the importance of creating or updating their estate planning documents. We realize that it may be tempting to create your documents all on your own. Whether you are considering writing your own will or using an online “do it yourself” (DIY) document creator, there […]

What is a Retirement Trust?

When planning for retirement, it’s important to consider all of your options for maximizing your savings and ensuring that your assets are distributed according to your wishes. One option to consider is a retirement trust. A retirement trust is a type of trust that is specifically designed to provide tax advantages similar to those of […]