In Oklahoma, "estate planning" broadly refers to the process through which someone decides what is to be done with their assets after death.
The first step in any estate plan is to figure out what you really want to be done with your assets after your death. This is a very personal decision, and you should discuss it with your family, and others who might have a direct interest in your decisions. As for really implementing your goals, you should probably speak with a legal and/or financial professional to figure out the best way to accomplish these goals.
In addition to decisions concerning the disposition of your property, you should decide how you want to spend your final days. For example, many people have a strong preference about whether and to what extent they'd like to be kept alive by artificial means. Whatever your sentiment on this matter is, you should make it clear to the people who will be positioned to make such choices for you, if you are unable.
A reliable estate planner in Oklahoma may also help you maximize the percentage of your assets that go to your chosen beneficiaries, by minimizing the impact of taxes and court fees. Additionally, preventing a will or other estate plan from being litigated in court will save your survivors an incalculable amount of time, money, and energy - and the better an estate plan is, the lower its chances of ending up in court.
Common Elements of Estates in Oklahoma
Estate plans in Oklahoma almost always have these features:
Will: A will is a written instrument stating what you want to be done with your assets after you die. There are many dilemmas that can come up in the drafting of a will. However, because the will doesn't have any legal or practical effect until after the person who made it died, they can't exactly correct these problems when they become apparent. Therefore, quality drafting, usually with the assistance of a brilliant attorney, is essential.
Power of Attorney: Granting someone "power of attorney" gives them the authority to make your decisions for you if it becomes impossible for you to do so. This incapacity can arise due to illness, injury, or mental incapacity.
Funeral Arrangements: Your wishes on this matter should be made clear to whoever is in a position to implement them early on in the estate planning process, and should not be included in a will. Because a will is often read days or weeks after the person dies, it may be too late by then to carry your wishes out.
Do I Need an Oklahoma Estate Planning Attorney?
To most people, these issues are essential to their peace of mind during life. Accordingly, it's very important to make them with the help of a brilliant Oklahoma attorney, to make sure that they have the best possible chance of being implemented.
Interesting Facts About Oklahoma
Oklahoma is called the "Sooner state" and is one of the main producers of oil and natural gas in the U.S. Ohio's economy is one of the fastest growing in the nation and is supported by other major industries like energy and telecommunications. Oklahoma achieved statehood relatively late, being the 46th state to join to Union.
Oklahoma's legal court system is formed by the District Courts, appeals courts, and the Oklahoma Supreme Court. The state has a total of 77 District Courts. Oklahoma's appeal system is different from other states as there are two branches for appeals: the Court of Criminal Appeals and the Court of Civil Appeals. Oklahoma also maintains an Administrative Office of the Courts, which provides the courts with administrative services. There are a total of 39 Native American tribal governments in Oklahoma.
Oklahoma's legal profession benefits from the presence of major law schools in the state. Some of these include the law schools at Oklahoma City University, The University of Oklahoma, and the University of Tulsa. Oklahoma law schools train future lawyers in the particulars of Oklahoma law. Oklahoma is famous for court cases involving civil rights like the McLaurin case (1950), which laid the foundation for cases like Brown v. Board of Education.
Lawyers in Oklahoma are equipped to handle a wide range of legal claims and inquiries. Oklahoma lawyers have experience in dealing with the types of disputes that are unique to the state. Also, an Oklahoma attorney can provide advice on different legal matters.