People tend to be fascinated by the lives of celebrities, and as a result, news outlets often discuss the way deceased celebrities plan their estates. … [Read more...] about McNair, Monroe & Morrison: Three Estate Planning Nightmares
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There are those who decide that they don't need an estate plan because they are not going to be exposed to the federal estate tax. … [Read more...] about Do You Really Need an Estate Plan?
Probate, the process that will be used to settle your affairs in your home state, becomes Ancillary Probate when you own property in more than one state. Ancillary, or secondary probate, raises the cost and time you will spend, since the process must occur in two separate locations. … [Read more...] about When is Ancillary Probate Necessary?
Oklahoma's Premier Elder Law and Estate Planning attorneys from Parman & Easterday dicuss the problems with Joint Tenancy. Although Joint Tenancy offers some short-term conveniences, in the long run, it poses a host of problems that can cost you and your loved ones many times the expense and headaches you thought you were avoiding.Watch this video to discover why it is so important to have an Estate Plan in place for your family's peace of mind. … [Read more...] about What’s the Trouble With Joint Tenancy?
Many people have heard of Probate, yet not nearly as many truly understand what it is. Probate is not an easy process for your loved ones. It can be costly, time-consuming, and can even produce unwanted hard feelings. Watch this short video (4:15) and listen to Jerry Shiles and Larry Parman, attorneys at Parman and Easterday, discuss the pros and cons of probate. They discuss what it means to die intestate; what the process of probate could mean for you and your loved ones; and why and how to … [Read more...] about What is Probate?
Most people know that to have a valid will, you must also name an executor to actually handle the distribution of assets to the respective heirs. But what you may not know is that this executor doesn't act in a vacuum. Instead, this distribution of assets is overseen by the court using a process called probate and while it's intended to protect the estate and honor the wishes of the deceased, it does come with a few pitfalls. Here's the top three reasons you might want to avoid probate: … [Read more...] about 3 Reasons You Might Want to Avoid Probate
The process of probate comes into play when you are planning your estate. Some people decide to take steps to arrange for asset transfers outside of probate, and this is one option that is available to you. However, if you use a last will that is properly constructed by an estate planning attorney who is familiar with the nuances of the local courts here in the Oklahoma City area, probate can be navigated effectively. … [Read more...] about Discover How To Take the Problems Out of Probate
In a previous post we highlighted the estate challenge that has arisen around the estate of the deceased actor Sherman Hemsley. We now have some new information to pass along regarding a firm court date and a court ordered DNA test. Hemsley, who starred as the irrepressible George Jefferson in the classic sitcom The Jeffersons, died back in July. Since then his body has been housed in an El Paso funeral home. … [Read more...] about Update: Hemsley Estate Case Going to Court; DNA Test Ordered
Statistics indicate that a majority of adults are going through life without having executed all of the appropriate estate planning documents. Procrastination is at the root of this in many cases because most people understand that they should have a last will or a living trust in place. … [Read more...] about Think Practically When Planning Estate
When you hear people citing reasons why you may want to consider the implementation of probate avoidance strategies two primary things will be mentioned. One of them would be the expenses that can be incurred during the probate process. … [Read more...] about A Third Reason to Implement Probate Avoidance Strategies