Meeting shows delicate balance between preservation, rights

A real estate investor in Oklahoma will have a number of hoops to jump through in order to see their project to their ultimate goal. Some of these hoops may involve permissible real estate land use and related issues. For instance, at a recent meeting among the government leaders of Nichols Hills, a community bordering Oklahoma City, discussed how they might better be able to preserve the historic character of the neighborhood. Although the leadership was clear that they did not intend to unduly burden the property rights of landowners, they wanted to see more done to protect older historic homes from demolition. Many investors in the area tear down old homes that give the neighborhood a unique look in order to build “spec homes”, or houses that intend to draw a modern homebuyer since they were built for the

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Successful succession: Don’t let these issues thwart your plans

There’s obviously a lot of challenge involved in building and maintaining a family business in Oklahoma (or anywhere, for that matter). Most family-run business owners agree, though, that it’s a very rewarding experience to work alongside those you love most and provide a service and/or product to the public, knowing that the business was created by your own ideas and led to success by the work of your own hands. There may come a time in your journey when you start thinking ahead to a future beyond your business days, and you will have to make major decisions such as who will own the company, run it, work at it, handle its finances, etc. With the right business succession plan, you can forge a clear path to the future, although there are a few pitfalls you’ll want to avoid. Major

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Unlock peace of mind with key estate planning documents

Some people in Oklahoma and elsewhere mistakenly think estate plans only function after a person dies. This couldn’t be further from the truth. Although a final will and testament is a document administered after an estate owner’s death, there are many other documents you can include in a thorough plan that have everything to do with situations that may occur while you’re still living. Choosing what documents to include in a particular plan is an intensely personal decision. Estate planning is a highly customizable process that you can adapt to suit your specific needs and long-term goals. There are several key documents that those who want to cover all their bases typically include in their estate plans. Good plans include more than final wills. If one of your main goals is to provide for your loved ones after you die, then you

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Important terms in a commercial lease agreement

Although this blog has discussed purchase transactions involving commercial real estate in pervious posts, it is important to remember that, for a variety of business and other reasons, many Oklahomans choose instead to lease a property for their business’s use. Like the terms of purchase agreements, the provisions of a lease are important both to a commercial tenant and to the landowner, and they can mean the difference between and good and bad financial outcome for either party. It is for this reason that careful contract negotiation is required when an Oklahoma business chooses to enter a commercial lease agreement. Unlike residential leases, negotiation is the norm when it comes to nailing down the terms of a commercial lease, so prospective tenants should feel no obligation to sign the first agreement a landlord provides to them. Among the key terms

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Can an attorney speed up a disability appeal?

As pervious posts on this blog have mentioned, many if not most applications for Social Security disability benefits get denied at the initial stages. While sometimes the involvement of a qualified disability benefits attorney can help get an application approved at the outset, in many cases, the reality is that an applicant for benefits is just going to be denied social security and will have to plan on going through an “appeal,” or, more precisely, a review hearing before an administrative law judge. The problem with this appeals process is that it takes a long time to complete. Moreover, during the wait, a disabled person has to continue to live without the help of disability benefits, even if he or she really needs in order to make ends meet. This is so even though a person really does have a

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Help with drafting a commercial purchase agreement

Although buying a piece of land or a building for business use or development is in many respects similar to buying a family home, in other ways, it is quite a bit different and, in many respects, much more complicated. One of the biggest differences between residential and commercial real estate deals is that there is customarily a lot more room for negotiation. This means that Oklahomans and out-of-state investors with property in Oklahoma are more likely to need an experienced and knowledgeable advocate on their side to help them prepare, negotiate and sign a commercial purchase agreement. Our law office has the knowledge and experience required to help our clients navigate through the complicated world of a commercial real estate sale or purchase. Once a prospective property or buyer is identified, we can help our clients prepare the contract

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How else might I be able to fund a nursing home stay?

Previous posts on this blog have discussed how important it is for many senior citizens in Oklahoma to engage in Medicaid planning. After all, for many people, this is the most reliable and best way to assure that they will be able to get the nursing home or other long-term care that they need in their old age. However, qualifying for Medicaid means a person has to be able to honestly say that they are without means to pay for their own medical care. Unfortunately, not everyone in Oklahoma will be able to count on Medicaid even if they do engage in planning. In other cases, it might not be feasible for a person to dispose of most of their assets and limit their income, as doing so can create other serious legal problems. These sorts of people may have

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Contact

Teague & Wetsel, PLLC
1741 West 33rd Street, Suite 120
Edmond, OK 73013

Telephone: 405-285-9200
Fax: 405-285-9201

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