A will provides for the distribution of your property upon your death. Plan for your treasured possessions and plan for your loved ones by creating a will. Work with estate planning attorney Kristin R. Drake and create a will that comforts you about your family’s future after you are gone.
Plan for your family’s future using a well drafted will. Attorney Kristin R. Drake provides reliable, flat rate services for your estate planning needs. A will is too important to put off. Contact us today to get started before it is too late.
Frequently Asked Questions About Wills
Most important of all, if you have minor children, you can name a guardian for your children in your will. No one likes to think that they may have to leave their children. It is a difficult thought to confront, but one that is so important. A will allows you to select a person that would best care for and love your children. The security of knowing your children will have this even when you are gone can give you peace of mind like few other things can. In determining who you want to act as guardian for your children, there are several important things you will want to consider:
- What is the person’s relationship like with your children?
- Will this person be able to provide a stable and loving environment?
- Does the person have the ability to financially provide care for your child?
- What is his or her current health like? Will they be able meet the activity requirements for keeping up with your child?
- Would your child need to relocate?
- Would the child still be access to your relatives?
- If you have selected a married couple to act as guardians, what would happen if they were to separate or divorce? Would you want to select an alternate guardian to assume their duties?
Creating a will allows you to reflect on these important questions and also discuss the situation with the person you are considering as guardian. You can make sure they feel comfortable with assuming the role of guardian of your child should you pass away. Additionally, you can select a person to manage property you leave to your minor children.
A will is a great way to secure a future you want for your children. A will can help ease the pain of losing a loved one. Without a will, your family and loved ones are left wondering what your wishes would have been for all of your personal property. Make the situation easier on them by memorializing your wishes in a will.
Passing away without a will is referred to as dying intestate. This means that your property will be distributed in accordance with Oklahoma’s intestacy laws and not by your express wishes.
Creating a will gives you control over how you want your assets distributed after you are gone. You do not have to have large amounts of assets for this to be important. Think of the assets and personal property you have. There may be things of monetary value like your car or your home. There may also be things of great personal value. Treasured personal items are also important to provide for in your will. Think of things that may carry special significance for your loved ones. These things can be worth more than money and will take on a whole new level of value after you pass. Make sure they end up in the hands of the loved ones who will cherish them. This can be accomplished by creating a will.
In Oklahoma, you must be 18 years or older and of sound mind to create a will. Additionally, you must sign your will or have someone else sign in your name, in your presence, and at your direction. You are also required to have at least two witnesses who must also sign your will.
You have the right to distribute your property in any way you wish. Be aware, however, that Oklahoma has probate laws in place that might circumvent these wishes sometimes. For example, you cannot completely exclude your spouse from receiving a portion of your estate no matter what your will says. Oklahoma law allows for a spouse to elect to take a portion of the estate regardless of a person’s will. This is referred to as the “elective share.” Additionally, if you fail to mention or specifically exclude a child or grandchild from your will, he or she may be able to still recover a portion of your estate as well. If you want to preclude a child or grandchild from receiving a portion of your estate, explicitly state so in your will.
A will may be modified or revoked at any time. Make sure that any changes to your will are made in compliance with Oklahoma law.
You may select a personal representative, or executor, to carry out the terms of your will. If you do not expressly select a personal representative in your will, a court will appoint one. Creating a will allows you to ensure your estate will be managed by someone you trust and who will effectively carry out your express wishes.
A will provides for the distribution of your property upon your death. It gives instructions for after you death of how you want your property and assets divided. In some cases it can also create trusts and provide guardianship instructions for minor children.
How your estate will be distributed if you were to pass away intestate depends on the status of your family. If you have a surviving spouse and children, your spouse will receive half of your estate and your children will receive the other half equally distributed. If you have a surviving spouse and no children, your spouse will receive half of your estate and your parents will receive the other half. If you have no surviving spouse but have children, your children will receive your entire estate in equally divided shares. If you have no surviving spouse or children, your parents will receive your entire estate. Oklahoma has provisions beyond these distributions as well. If you have no surviving spouse, children, or parents, your estate will go to more distant relatives such as siblings, grandparents, aunts and uncles, your cousins, and even to your spouse’s relatives in some cases.