Many Oklahoma residents know how important it is to have their estate planning documents in place. But, for those who haven't taken the time to create a will yet, it may be a good idea to understand what happens if you die without a valid will.
You have a multitude of decisions to make when you create an estate plan, and it's important to have as much relevant information as possible. Without the right guidance, you may not end up with the plan you intended.
As certain areas of Oklahoma continue to grow, maybe you consider developing commercial property in an area where doing so makes sense. You will more than likely begin looking for tenants who want to take advantage of the business opportunities in the area.
No one really wants to think about what will happen to them when they get old. It's hard to picture ourselves as getting old and needing additional care, plus it's not a very upbeat topic. But, if long-term care planning is not completed, a person can lose a lot of their assets to pay for their necessary medical care.
When person dies in Oklahoma, many times their estate will go through probate. It is during this time that the estate is settled under court supervision. In general, once an estate has a personal representative assigned, they are able to gather the estate's assets and creditor information.
Most Oklahoma residents know how important estate planning is to protect a person's assets and honor their wishes. Estate planning is important for almost every resident in the state. It can be important to keep in mind common estate planning mistakes in case they apply to a person's situation.
Those who own real estate in Oklahoma that they rent out know how stressful it can be. There are many laws in place to protect tenants, but landlords also have rights.