Can Someone Else Pay for My Oklahoma Estate Plan?
Estate planning is not just for the wealthy. Every adult should have an estate plan, yet surprisingly, most Americans do not. The perceived cost of creating one is among the most cited reasons for a lack of estate planning. The consequences of not having an estate plan in Oklahoma can become more costly in the […]
5 Ways You Can Leave Your Family a Great Legacy
Although the word “inheritance” usually conjures up images of property or accounts with significant monetary value, you can leave your family an even longer-lasting inheritance by doing these five things, whether or not your bank account is overflowing. 1. Make a Plan Often, people who do not have a lot of money think that […]
Now Serving Families & Businesses in Kansas
We’re excited to announce that we now offer estate planning services in Kansas! Joining our team is Chloe Lubbers, an attorney who helps Kansas families and businesses secure their futures and plan for success. With her deep understanding of Kansas laws and her compassionate approach, Chloe guides individuals and organizations through the complexities of estate […]
What if I cannot find a beneficiary?
When someone has named you as the executor (also known as a personal representative) of their will, or the trustee of their Oklahoma trust, you are obligated to distribute that person’s money and property according to the document’s terms to the designated beneficiaries. For convenience, let’s group together the roles of executor and trustee under […]
Consider These 2 Life Insurance Examples
A common misconception people have about life insurance is that they only need to designate their spouse, child, or loved one as the beneficiary of the policy to ensure that the life insurance benefits will be available to the beneficiary when they die. Life insurance is an important financial and estate planning tool, but without […]
How to Avoid Estate Planning Scams
Imagine spending thousands of dollars on an estate plan to protect loved ones, only to find that no true protection exists. Unfortunately, this scenario happens on a regular basis to individuals who are victims of estate planning schemes. According to a report conducted by the U.S. Consumer Financial Protection Bureau of people ages 50 and […]
The Power of Charitable Giving in 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 […]
Passing the Torch: Smart Business Succession Strategies in Oklahoma
For many Oklahoma business owners, their business is one of the most valuable and important things they own. When it is time to sit down and create an estate plan, it is critical that business owners plan for their business just as they would plan for their home or finances. Effective business succession planning ensures […]
Consider These Things Before Leaving Your Retirement Account to Your Minor Child
Your retirement account may be one of the most valuable things you own. Many people consider naming their children as the beneficiaries of these accounts because they think it is a way of easily transferring their wealth if something happens to them. However, there are some factors that make this type of transfer more complicated […]
How to Maintain Control of Your Estate and Keep 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 […]