Thank you for visiting this site devoted to providing information related to estate planning in Oklahoma. Please read this page carefully before proceeding into the informational pages, and carefully read the site disclaimer.
The considerations for an estate plan for an individual or couple will vary widely depending on a host of factors. Age, health, minor children, expected income and resources all play a part. It is a common misconception that every estate must undergo so complicated, expensive process, whether it be the formation of a Trust or the Probate of the estate after death. Estate plans need not be expensive in order to be effective. They do, however, require the assistance of a qualified attorney with experience in estate planning.
The key to effective estate planning is to fully account for all property that requires a signature to convey. To convey land, the owner must sign a deed. To convey a motor vehicle, the owner must sign a title certificate. Each type of property requires a different method to convey ownership. If the owner, or part owner, is deceased, the law requires someone (called a personal representative) to sign the documents on the owner's behalf. The way a person becomes a personal representative is to be appointed by the Court, through the process commonly referred to as "Probate". Since "Probate is what we are trying to avoid, it the need is to find a way to have the property transferred after death without the need to have a Personal Representative appointed.
The issue of the surviving spouse can also create nightmare scenarios. When people are not diligent in their relationships, the person they believe to be their spouse may actually not be. Oklahoma recognizes common law marriage. Where two people have lived in an openly committed relationship, they may have created such a marriage. Simply splitting up, and even staying apart for decades, is not sufficient to break the marital bond. Only a Divorce Decree from a Court of competent jurisdiction will break the bond of matrimony. Where a common law spouse pops up in a Probate, even after decades, the person determined to be the spouse takes the spousal share. The person who married the decedent and lived with him/her for decades afterward, is left out in the cold.
As you review the information in these pages, remember this is designed as a starting point. Take the information that you gain from this site as a means of crafting the best plan for your situation with a competent professional.
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