Today our blog focuses on understanding estate planning in Oklahoma and Kansas. We are going to look at the Letter of Instruction. In an earlier discussion, we looked at the role an executor plays in the managing of your estate, and in protecting the decisions you have made through your estate plan. Choosing the right executor is vital to protecting your estate planning interests. Simply choosing the right executor is not the end of the process, however. To get the most out of your plan, you … [Read more...]
Do I Really Need an Estate Plan?
Do you have friends and family members who periodically bug you about setting up an estate plan? If so, you may be putting them off because you are convinced you don’t really need an estate plan yet. You are hardly alone. People often think they don’t need an estate plan because they only have a modest estate. As an Overland Park estate planning attorney at Parman & Easterday explains, the need for estate planning is not directly related to the size and value of your estate. Myths and … [Read more...]
Founding Attorney, Larry Parman, Shares a Personal and Insightful Message about the Coronavirus Situation and How the Firm is Handling It (click on the video below)
https://youtu.be/uGrDjllfk7Y … [Read more...]
Understanding Estate Planning – Developing a Fair Inheritance Plan
Creating a fair inheritance plan is one of the primary goals of many people who come to us for estate planning assistance in the Oklahoma City area. Whether you have siblings, children, friends, or others to whom you wish to leave an inheritance, developing a plan that matches your goals is important. This can take some time to do properly. Today, as a part of our series on understanding estate planning, we will look at what it takes to develop a fair inheritance plan. Fair Inheritance Plan - … [Read more...]
Use Trust Protectors for Added Protection and Flexibility
Trust Protectors are increasingly popular in trusts. This article examines how Trust Protectors can add flexibility to your trust. This flexibility helps achieve your goals and can protect the beneficiaries and Trustee. Use Trust Protectors for Added Protection and Flexibility … [Read more...]
Understanding Estate Planning – What is a Fiduciary?
In this week's blog post on understanding estate planning, we will direct our attention to the concept of a fiduciary. You may not be familiar with the term. A fiduciary is a person or organization that plays a key role in your estate plan. Most estate plans rely on multiple fiduciaries, each with specific duties, responsibilities, and abilities, to help protect your interests and your estate. Let's take a look at some common questions about fiduciaries, their jobs, and why they … [Read more...]
Alzheimer’s Alone Makes Incapacity Planning a Must
Alzheimer's disease causes dementia, and dementia can cause victims to lose their capacity to make sound decisions. People are living longer than ever, with the 10 year age group comprised of people between 85 and 94 years old growing faster than any other from the year 2000 to 2010 according to the United States Census Bureau. Once you reach the age of 85 Alzheimer's becomes a very real threat with upwards of 45% of the "oldest old" suffering from the disease according to the Alzheimer's … [Read more...]
When Might an Estate Accounting Be Required?
If you recently lost a loved one, you are likely going through a period of grief and other heightened emotions. If your loved one appointed you to be the Executor of his or her estate, you still must focus on the legal and practical steps required during the probate that follows. Normally you will be required to provide an estate accounting. For a first time Executor, an Overland Park probate attorney at Parman & Easterday can assist you when an estate accounting is required. What … [Read more...]
The Estate Litigation Process – Settlement Agreements
The vast majority of estate cases never go to trial because the parties enter into settlement agreements. A settlement agreement can be agreed upon at any time, even after a trial has begun. Negotiating a settlement with terms to which both sides can agree is complicated. Always talk to your attorney first if you are considering a settlement or need advice about your legal options. Settlement Agreements A settlement occurs when both sides in the case reach an … [Read more...]
What Should You Say if You’re Asked to be an Agent?
In an earlier discussion, we talked about what it means to be an attorney in fact, but we didn't offer any guidance about what you might say if someone asks you to be an agent. If you are asked to be an agent, also called an attorney in fact, what should you say? What will you need to do if you accept, and what will happen if you decline? Today we're going to look at some of these questions to give you a better idea about what you need to think about if you are ever asked to be an agent. Who … [Read more...]
