To have a guardian appointed, a Court must find a person is impaired and unable to make reasonable decisions regarding his or her person or finances. But how does that affect his/her ability to execute a will? A person may be able to execute a will in Oklahoma, even if incapacitated or in need of protection through a guardianship, but how do we know for sure? Absent a guardianship, there is a presumption that a person is competent. Does the guardianship change this presumption? … [Read more...] about How Guardianship Affects Your Ability to Execute A Will
Small Business Planning
The average lifespan in the United States right now is 78 years. Does this mean you can wait until you are in your 60s to start planning your estate? Unfortunately many people seem to think so because the majority of people who have not yet attained senior citizen status are going through life without having the appropriate estate planning documents in place. … [Read more...] about Is Estate Planning Only Relevant to Seniors?
When you are divorced from the other parent of your minor children, it is still important to name a guardian in your will for those children. Even though in most cases the court will give custody of the children to the other parent, there are still some things you will want to take into consideration.If something should happen to the other parent and they did not have a will naming a guardian for the children, the court can refer to your will. In the event that neither parent named a guardian … [Read more...] about Naming A Guardian for Your Children When Divorced
In many instances grandparents are fulfilling a dual role in the lives of their grandchildren, one as parents as well as the traditional role as grandparents. There are many reasons for this dual role as American society has evolved over the last several decades. No matter what the reason, grandparents who are raising grandchildren need to be aware of the legal issues involved concerning their responsibilities and the rights of the parents. Legal Custody Grandparents can become caregivers … [Read more...] about Grandparents in the Role of Guardian for Grandchildren
If you do not have a disability plan in place and you become mentally incapacitated, you will have a court-appointed guardian to make decisions for you and handle your finances and medical care. So, what exactly does a guardian do? Manage Assets Your guardian will have access to your financial accounts, personal property and real estate. He or she may use your property to collect rents or even to sell and provide funds for your care. He or she may also use your financial assets as … [Read more...] about What Does a Guardian Do?
A guardianship occurs when a judge determines, with the advice of your doctors, that you are unable to make your own medical decisions. The court will then name a guardian, who is usually a friend or family member, to oversee your health care treatment. No Assigned Agent If you become disabled either mentally or physically and you are no longer able to state your medical wishes, you must have someone available to speak for you. Many people use a Health Care Power of Attorney or Advance … [Read more...] about When is a Guardianship Necessary?
Are your children under the age of eighteen? Choosing a guardian is often one of the hardest parts of estate planning. Your primary concern is the interest of your children. Your chosen guardian should be willing and able to provide a loving and stable environment for your children. And, don’t forget, this decision is more about values and protecting your children, not about who should supervise any money you have set aside for them. You might decide your selection can perform both functions, … [Read more...] about How to Choose a Guardian