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 […]
Consider This Before Your Disabled Child Turns 18
When your special needs child is under the age of 18, you, as their parent, can make most, if not all decisions, on their behalf. However, when your child turns 18, the law views them as an adult, and you no longer have the ability to control what and how decisions are made, or even […]
What to Do with a Loved One’s Used Medical Equipment
After a loved one has passed away and the funeral has been held, the task of sorting through their personal belongings begins. While items with sentimental value or family historical importance may have been distributed to beneficiaries in the estate plan, many more might still be lying around the house. The question of what to […]
Planning a Barbecue Is Like Planning Your Estate
Although a backyard barbeque may be an informal affair, planning is crucial to its success. This is true for estate planning, too. Just as preparations are necessary for a successful cookout, a little planning goes a long way to prevent a poorly designed estate plan (or no estate plan at all!) from leaving you and […]
2 Examples of Death Affecting an Oklahoma Estate Plan
A number of people are involved in the creation and management of a will or trust, and the death of any of these individuals can greatly impact your Oklahoma estate plan. Reviewing your estate plan to make sure that your wishes will still be carried out in the event of an unfortunate family death is […]