Oklahoma military veterans have access to a lot of benefits, some of which are available through the many programs the Department of Veterans’ Affairs administers. One of these programs involves a pension plan for which disabled vets or veterans over the age of 65 can qualify. This pension program is separate from the program the Department uses to compensate veterans who get disabled while in the service. There are certain rules as to who qualifies for these benefits. In addition to being either over 65 or “disabled” as the Department defines that term, a person also has to show he or she received something other than a dishonorable discharge, although a full “honorable” discharge might not be necessary. Also, the veteran claiming the pension must serve during wartime; however, officially, the United States has been in wartime since the 1990Continue reading: Overview of veterans’ retirement benefits
Many people who live in Oklahoma, and particularly those in the Oklahoma City area, may see in the relatively strong real estate market an opportunity to invest in commercial real estate. In many cases, a person can be more of a passive investor just by providing money for a commercial project. However, others may want to take an active role in owning commercial property, like a shopping center or office space. But, the thing about owning commercial property is that it involves many different layers of detail, any one of which potentially costing a lot in terms of time and emotional capital. Investors, especially those new to the scene, may have no idea how to actually go out and find and manage tenants for their commercial property, much less keep the property itself attractive and in good repair. For theseContinue reading: What do property management companies do?
In our country today, it is not at all uncommon for a person to live and, ultimately, die as a resident of one state while having property in several states, including Oklahoma. Assuming the property involved requires estate administration and probate, it may mean that a personal representative in another state may have to complete an ancillary estate proceeding here in Oklahoma. One of the most common reasons ancillary estate proceedings are necessary in Oklahoma is that a person owns some sort of interest in Oklahoma real estate, such as mineral rights in a tract of land. In this situation, the deceased person’s personal representative or executor will have to petition an Oklahoma court in order to get the land properly transferred to the deceased person’s lawful heirs or intended beneficiaries. Fortunately, ancillary proceedings do not mean a personal representativeContinue reading: What is an ancillary estate proceeding?
Planning for your future doesn’t always mean deciding where you want to go to college, where you want to live or what career path you want to take. For many Oklahoma residents, this means drafting an estate plan. The estate planning processes is often looked at as something that could be put off until later in life. However, it is important to consider your financial, business, tax and health care needs and issues earlier in life. This could help an individual or family avoid serious problems at the time of death. Even if you have gotten over the hurdle and finally drafted an estate plan, this doesn’t mean you are off the hook. It is very likely that you will need to revisit your estate plan several times following its creation. Life changes, and a person’s goals, interests and needsContinue reading: Helping you address your estate planning needs
Those who own rental property in Oklahoma hope that they have good renters. Usually this is the case, but occasionally a property owner needs to evict their renter. There is a process for eviction “for cause” that Oklahoma property owners should be familiar with in landlord-tenant law. The first step in an eviction is to terminate the rental agreement or lease. A landlord will need to have legal cause in order to terminate a lease. Legal cause can include unpaid rent, criminal activity or lease violations. In order to terminate, a landlord must give the renter notice. The amount of notice a landlord needs to give depends on the violation. In non-payment of rent, the landlord needs to give a five-day notice to pay the rent. If the tenant does not pay the rent in five days then the landlordContinue reading: What is the eviction process in Oklahoma?