If you feel overwhelmed by your duties as the executor of an estate, you are not alone. Executors often feel unsure of how to proceed with probate, especially in the midst of grieving the loss of a loved one. In many cases, executors and personal representatives have to consider not only the property within the deceased’s home state, but also property that the deceased owned in other states. How are multistate probate issues handled in Oklahoma? While every situation is different, often it is necessary to open a secondary probate in the state where the property is located. This secondary probate is called ancillary probate. Depending on the circumstances, you may be dealing with overlapping areas of law. If you are facing multistate or multicounty probate issues, you may need the assistance of a professional with experience in real estateContinue reading: Tips for Executors Dealing with Property in Multiple States
Most people in Oklahoma understand the importance of a will to protect their estate when they pass away. A will is an important document that every person in Oklahoma should have. But there are other estate planning documents that may be needed, including a revocable living trust. A revocable living trust has many advantages and can be a valuable estate planning document. A revocable living trust is similar to a will but can do more for families. Avoiding probate court is one of the main advantages. Even if a person has a will, obtaining a lawyer and going through probate is often necessary in order to distribute the assets. A will also becomes public information, unlike a revocable living trust which will remain private. Because it is private, only those who are involved with the estate will know the details.Continue reading: Do you need a revocable living trust?
Dealing with the death of a loved one is a challenging time, and it is certainly no pleasure dealing with his or her affairs after passing. There are many reasons why a family would want to avoid the probate process when a loved one dies. Probate can drag out the estate settlement for a long time and can be costly. Fortunately, there are steps a person can take in order to help family members avoid the probate process after they die. There are four ways a person can pass their property to another and avoid the probate process. The first way is through joint property ownership with rights of survivorship. When one of the owners dies, the property automatically passes to the other owner. Financial accounts often allow their owners to select a beneficiary to receive the assets upon theirContinue reading: Techniques for avoiding probate
Oklahoma veterans are some of the most important people in our state. Their sacrifice to keep us safe here in the United States can never be repaid. This is one of the reasons why it is so important for communities to take care of their veterans. One way that the government tries to help veterans is by offering them certain benefits. For example, some veterans are eligible for pensions. There are requirements that these veterans need to meet in order to be eligible and veterans’ pension issues can arise from certain situations. In order for a veteran to be eligible for a pension, they must have served at least 90 days in active duty during a period of war and have been honorably discharged. The veteran must be older than 65 or younger than 65 but totally disabled. A survivingContinue reading: Many military veterans are entitled to financial benefits
A new dispute has arisen in regards to the Dakota Access Pipeline, the beleaguered oil pipeline project that was underway until the Army Corps of Engineers agreed to reconsider its environmental assessment. The Corps’ decision was arguably in response to protests by the Standing Rock Sioux and other Native Americans who oppose the pipeline being installed across Lake Oahe, which provides the tribe’s drinking water and is near sacred sites. Whatever the ultimate outcome of the tribal sovereignty and environmental issues posed by the pipeline, however, it appears there will still be legal issues to resolve. Just this week, a group of landowners filed suit against Dakota Access, LLC, claiming that the company used fraud, misrepresentation and unfair tactics when it was negotiating easements across their land. Dakota Access played one landowner against others to keep prices down, plaintiffs sayContinue reading: Landowners say Dakota Access unfairly acquired pipeline easements
Part of growing older is thinking about the future. Health issues that were once far-off possibilities may soon become pressing realities. For many aging Americans, those health issues may require a stay in a nursing home or intermediate care facility. It’s no secret that the financial toll of such stays can be staggering. On average, nursing home care costs nearly $7,000 per month, according to the U.S. Department of Health and Human Services. A long-term stay could quickly wipe away your life savings. You don’t have to give up your life savings So how do you protect the assets you’ve worked so hard to build while still ensuring that you get the proper care? For many, Medicaid is an answer. This federal-state program – called SoonerCare in Oklahoma – is the largest payer of nursing home expenses. To qualify, though,Continue reading: Medicaid planning 101