Shawn J. Roberts - Writing about law, technology and productivity

Do You Really Need an Oklahoma Power of Attorney? 3 Real-World Examples

Many people assume that their spouse or children can automatically step in and handle their affairs if something happens to them.

Unfortunately, that’s not how the law works. Without an Oklahoma power of attorney, your family may be forced to go through costly and time- act for yourself consuming court proceedings just to take care of everyday matters. You can read more about the Oklahoma power of attorney here.

An Oklahoma Power of Attorney (POA) is a legal document that allows you to appoint someone you trust to act on your behalf if you’re unable to. To see why it matters, here are three real-world examples:

Example 1: Medical Emergency

Imagine John suffers a serious stroke and can’t communicate. His bills need to be paid, insurance claims filed, and his business needs attention. Without a POA, his family cannot sign checks or authorize financial transactions for him. They’d likely have to seek a court-appointed guardianship, which can take weeks or months.

If John had signed a durable power of attorney, his spouse or another trusted agent could immediately step in and manage things—avoiding delays and stress at a critical time.

Example 2: Traveling Business Owner

Ophelia owns a small business in Edmond. She’s traveling overseas when an unexpected contract needs her signature. Without a POA, Ophelia’s business partner may be stuck until she returns.

With a limited (or “special”) power of attorney, Ophelia can give her partner authority to sign specific documents on her behalf while she’s away—keeping the business running smoothly.

Example 3: Elderly Parent’s Finances

Brenda’s elderly father begins showing signs of dementia. As his condition worsens, bills go unpaid and his bank account becomes vulnerable to fraud. If he hasn’t signed a power of attorney, Brenda may have no legal right to step in. She’ll likely have to ask a court to appoint her as guardian.

If her father had executed a power of attorney while still competent, Mary could have seamlessly managed his finances and protected his assets without the burden of court oversight.

Why This Matters

A power of attorney isn’t just for the elderly—it’s for anyone who wants peace of mind that someone they trust can act for them if needed. It’s flexible, affordable, and far easier than the alternatives (a lot of times, the alternative to a power of attorney is a guardianship).

✅ Bottom Line: Every adult should at least consider having an Oklahoma power of attorney in place. It’s one of the simplest ways to protect yourself and your family from unnecessary expense and stress.

📌 If you’d like to discuss whether a power of attorney makes sense for your situation, an experienced Oklahoma attorney can help draft a document tailored to your needs.

This blog post was created with the assistance of ChatGPT.

The key terms to include in an Oklahoma Buy-Sell Agreement

If you own an Oklahoma business with one or more owners or partners, a buy-sell agreement (also sometimes referred to as a “shareholders’ agreement) is one of the most important documents you can have. You can see my three really great reasons to have a buy-sell agreement here.

A buy-sell agreement sets the rules for what happens if an owner leaves the business—whether by choice, retirement, disability, divorce, or death. Without a buy-sell agreement, your Oklahoma business could face expensive disputes, unwanted new owners, or even collapse.

Below are the critical terms you need to include in an Oklahoma buy-sell agreement:

1. Triggering Events

The Oklahoma buy-sell agreement should clearly set out and define the events that require a buyout. Common triggers include:

Death of an owner
Disability or incapacity
Retirement
Bankruptcy or divorce
Voluntary sale of an interest
Termination of employment (in businesses where owners also work in the company)

2. Valuation Method

Disputes often arise over what the business is worth. A buy-sell agreement should explain:

How the value will be calculated (e.g., appraisal, book value, formula tied to earnings)
How often will the value be updated
Whether life insurance proceeds (if used to fund the buyout) factor into the valuation

3. Funding the Buyout

The agreement should specify how the purchase price will be paid:

Lump sum vs. installment payments
Use of life insurance or disability insurance policies
Promissory notes and interest terms

This section ensures that the departing owner or their heirs receive fair compensation while the business remains financially stable.

4. Restrictions on Transfer

To keep unwanted outsiders from becoming owners, the agreement should:

Require sales only to the company or remaining owners
Restrict transfers to third parties without approval
Address ownership changes in cases of divorce or bankruptcy

5. Roles and Responsibilities

When an owner exits, it can leave a big gap in operations. The agreement can:

Require a transition period
Clarify what happens to management rights
Provide for training or handover of client relationships

6. Dispute Resolution

Even the best agreements can lead to disagreements. Consider:

Mediation or arbitration clauses
Jurisdiction (which state’s laws apply—usually Oklahoma if that’s where your business is located)

Wrapping it Up

A buy-sell agreement is not a “one size fits all” document. The right terms depend on your (a) type of business, (b) your industry, and (c) your ownership structure. You need a clear, customized agreement in place that protects both your business and the owners’ families from uncertainty and conflict.

📌 Tip: If your business doesn’t have a buy-sell agreement—or if you have a buy-sell agreement that hasn’t been reviewed in years—it’s a good idea to meet with an attorney who understands both Oklahoma business law and your industry.

This blog post was created with the assistance of ChatGPT.

Should You Name Your Oklahoma Revocable Trust as the Beneficiary of Life Insurance?

In the process of funding your Oklahoma revocable trust, you need to consider life insurance policies.

When you buy life insurance, one of the biggest decisions is who should receive the money. Many people list their spouse or children. But sometimes, naming your revocable living trust makes more sense. Here’s a quick guide:

1. Control and Protection

If your children are young, or if you want to make sure the money is used wisely, naming your trust can help. The trustee can manage the funds and release them over time instead of giving a lump sum all at once.

2. Simplicity for Your Family

When the trust is the beneficiary, all your assets flow into one place. That means one set of instructions to follow and less confusion for your loved ones.

3. When to Keep It Simple

If your beneficiaries are responsible adults and you want them to receive the funds quickly and directly, naming them individually may be best.

✅ Bottom line: A trust can add protection and structure, but sometimes naming individuals is simpler. The right choice depends on your family’s needs.

This post was written with the assistance of ChatGPT.

Transferring Mineral Rights in Oklahoma: What You Need to Know

When it comes to property ownership in Oklahoma, what lies beneath the surface can be just as valuable as what’s on top.

Oklahoma Mineral rights are often separate from surface rights and can be transferred independently. Whether you’re looking to sell, gift, or transfer Oklahoma mineral rights, it’s important to understand the process, legal requirements, and potential pitfalls involved.

What Are Mineral Rights?

Mineral rights refer to the legal authority to explore for, extract, and sell underground resources such as oil, gas, coal, and other minerals. In Oklahoma, it’s common for mineral rights to be “severed” from surface rights, meaning different parties may own the surface of the land and the minerals beneath it.

Ways to Transfer Mineral Rights in Oklahoma

There are several methods for transferring mineral rights:

1. Sale or Assignment

You can sell or assign your Oklahoma mineral rights to another individual or company. This typically involves executing a Mineral Deed or Assignment of Mineral Rights, which must be notarized and recorded with the county clerk in the county where the property is located.

2. Gift

Oklahoma Mineral rights can also be transferred as a gift. Like a sale, this transfer should be documented with a deed and recorded appropriately to ensure the new owner’s rights are protected.

3. Inheritance

Mineral rights often pass to heirs through a will or intestate succession. In Oklahoma, if a person dies owning mineral rights, they are part of the decedent’s estate and subject to probate unless they are placed into a trust or otherwise transferred prior to death.

4. Trust or LLC Transfer

For Oklahoma estate planning or liability protection purposes, mineral rights can be transferred into a trust or limited liability company (LLC). This can simplify management, reduce tax burdens, and help avoid Oklahoma probate.

Important Considerations

Title Search: Before transferring mineral rights, it’s critical to verify ownership through a title search. Misidentified ownership can result in legal disputes or a clouded title.
Recording the Transfer: The deed or assignment must be recorded in the County Clerk’s office where the property is located. Failing to record the transfer can result in loss of legal recognition.
Taxes and Royalties: Mineral rights may produce royalties from existing or future leases. Make sure you understand the tax implications and who will be entitled to future income.
Oil and Gas Leases: If the mineral rights are currently under lease, the new owner will step into the leaseholder’s position and continue receiving royalty payments unless otherwise agreed.

Do You Need an Oklahoma attorney?

I am obviously a bit bias on this question nonetheless an Oklahoma attorney may be helpful when you transfer mineral rights, including doing the following:

Draft or review deeds and contracts
Conduct or review a title examination
Address Oklahoma probate and estate planning concerns
Ensure the transfer complies with state law and protects your interests

This Blog Post was created with the assistance of chatGPT.

How to Start a Business in Oklahoma: A Step-by-Step Guide

Starting a new business can be intimidating. I hope the information on starting a business in Oklahoma is helpful to lower the intimidation factor and make the process easier.

1. Choose Your Business Structure

Before anything else, decide how your business will be legally structured. Common options include:

Sole Proprietorship – Easy to start, but no liability protection.
Partnership – Great for two or more people starting a business together.
Limited Liability Company (LLC) – Offers liability protection and tax flexibility. Popular among small businesses in Oklahoma.
Corporation – Ideal for larger businesses or those seeking investors.

✅ Tip: Most entrepreneurs in Oklahoma choose an LLC for its balance of protection and ease. If you want to know more about choosing the right form of business click here.

2. Pick a Business Name and Check Availability

Your business name should be unique and not already in use by another Oklahoma company.

Use the Oklahoma Secretary of State’s Business Name Search Tool to check name availability.
If forming an LLC or corporation, you can reserve your business name for 60 days for a small fee.

🔗 Oklahoma Business Name Search Tool

3. Register Your Business w/ the Oklahoma Secretary of State

For an LLC or Corporation:

File the necessary formation documents with the Oklahoma Secretary of State.
You can file online or by mail.
Pay the filing fee:
- LLC: $100
- Corporation: $50 for-profit; varies for nonprofits

🧾 You’ll receive a Certificate of Limited Liability (LLC) or Certificate of Incorporation (Corporation). Also, check out this blog post on preventing your Oklahoma company’s corproate veil from being pierced.

4. Get an EIN from the IRS

An Employer Identification Number (EIN) is like a Social Security number for your business. It’s free to obtain and required for:

Opening a business bank account
Hiring employees
Filing federal taxes

Apply online at the IRS EIN Portal.

5. Register with the Oklahoma Tax Commission

Depending on your business type, you may need to:

Collect sales tax
Withhold employee income tax
Pay franchise or use taxes

You can register for all necessary business taxes through the Oklahoma Taxpayer Access Point (OkTAP). If you have employees, you should also reach out to the Oklahoma Employment Security Commission.

6. Get Local Permits & Licenses

Check with your city or county government for local business license requirements. For example:

Oklahoma City and Tulsa may require general business licenses or zoning approvals.
Restaurants and salons must comply with health department regulations.
Contractors may need state-specific licensing.

🛑 Not sure which licenses you need? Use the Oklahoma Licensing & Permitting Portal as a guide.

7. Open a Business Bank Account

Keep your business and personal finances separate. Most banks will ask for:

Your business formation documents
EIN
Operating agreement (if LLC)

This helps with accounting, taxes, and legal protection.

8. Consider Insurance

Most small businesses need at least general liability insurance. If you have employees, Oklahoma requires workers’ compensation insurance.

Other types of insurance may include:

Commercial auto
Property coverage
Professional liability (for service businesses)

9. Build Your Brand and Launch

Once the legal boxes are checked, it’s time to:

Create a website and social media presence
Set up marketing (Google Business Profile, ads, business cards)
Network with local chambers of commerce and small business groups

The Oklahoma Small Business Development Center (SBDC) offers free and low-cost resources to help with your launch.

This Blog Post was created with the assistance of chatGPT.

Part of a blended family? Intentional Oklahoma estate planning is particularly critical

Everyone needs to be intentional about Oklahoma Estate Planning because, as I have written about previously, if you don’t have an estate plan, the State of Oklahoma has an estate plan for you.

However, a blended family must be particularly careful to do Oklahoma estate planning because if not, the results might be surprising and disappointing.

Consider this example.

Husband and wife had previous relationships in which they each had two children. Now, they have married, forming a blended family with four adult children. Lets assume there are no written estate planning documents (e.g., a trust, a last will and testament) for either spouse. The husband passes away, leaving the wife and the four children leaving among other things bank accounts and mineral interests that are solely in his name. How would you expect the husband’s estate to be handled? Well, it’s probably more complicated than you think.

Initially, there is likely to be an Oklahoma probate case covering the husband’s estate. Then, the question is likely to be what part of the husband’s estate is”property acquired by the joint industry of the husband and wife during coverture” (essentially marital property) and what part is “not acquired by the joint industry of the husband” (essentially separate property). It matters because the wife and her husband’s two kids are going to split the marital property and an undivided equal part of the separate property. If you wonder where this information is coming, you can look at Title 84 O.S. section 213B.

Is this distribution okay with you? It might be or it might not be. The point is that your estate doesn’t have to be handled this way; you have the power to tailor your own estate plan, one that fits your family.

If you are interested in taking control of your situation and doing your own Oklahoma estate plan, feel free to reach out to me.

Corporate Transparency Act: The obligation to file your beneficial ownership information report is back on again with short deadlines

On December 3, 2024, a court in Texas issued a nationwide injunction stopping the enforcement of the Corporate Transparency Act, which means the requirement to file Beneficial Ownership Information Reports was stopped.

However, that Court has been overruled by a higher court, and the obligation to file Beneficial Ownership Information Reports is back on, and the new deadlines are short. See below for more details and you can go to FinCen’s website to read the whole by clicking here.

https://www.fincen.gov/boi

Your company is on the clock: Do you know when your company has to file its’ Beneficial Ownership Information?

You have probably heard about the Beneficial Ownership Reporting Act, its everywhere nowadays.

So, I wanted to break it down to explain what it is and what that means for you and your business.

What is the Beneficial Ownership Reporting Act?
Congress enacted the bipartisan Corporate Transparency Act in 2021 (the “Act”) to curb illicit finance. The Act requires many companies doing business in the United States to report information about the individuals who ultimately own or control them. The Act is enforced by the United States Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”).

So. in something close to plain English the Act requires: Almost all corporations and LLCs have to report to FinCEN who the people or companies are that either own or control them, directly or indirectly. You file a beneficial ownership information report on a website created by FinCEN.

What is a reporting company?
There are two types of reporting companies:

Domestic reporting companies are corporations, limited liability companies, and other entities created by filing a document with a secretary of state or similar office in the United States.
Foreign reporting companies are entities (including corporations and limited liability companies) formed under the law of a foreign country that have registered to do business in the United States by filing a document with a secretary of state or similar office.

There are exceptions for companies engaged in certain areas and you can find the exceptions here.

Who is a beneficial owner?
A beneficial owner of a company is any individual who, directly or indirectly, (a) exercises substantial control over a reporting company, or (b) owns or controls at least 25 percent of the ownership interests of a reporting company.

What is beneficial ownership information?
Beneficial ownership information refers to identifying information about the individuals who directly or indirectly own or control a company.

When do I have to report my company’s information?

In business before 2024. A reporting company created or registered to do business before January 1, 2024, will have until January 1, 2025, to file its initial BOI report.
In business January 1, 2024 or later. A reporting company created or registered in 2024 will have 90 calendar days to file after receiving actual or public notice that its creation or registration is effective.
A reporting company created or registered on or after January 1, 2025, will have 30 calendar days to file after receiving actual or public notice that its creation or registration is effective.

Where do I report my company’s information?
If you are required to report your company’s beneficial ownership information to FinCEN, you will do so electronically through a secure filing system available via FinCEN’s BOI E-Filing website.

What type of information has to be reported?
Beneficial ownership information reporting is not an annual requirement. A report only needs to be submitted once, unless the person filing or the company needs to update or correct information. Typically, reporting companies must provide four pieces of information about each beneficial owner:

name;
date of birth;
address; and
the identifying number and issuer from either a non-expired U.S. driver’s license, a non-expired U.S. passport, or a non-expired identification document issued by a State (including a U.S. territory or possession), local government, or Indian tribe.

The company must also submit certain information about itself, such as its name(s) and address. In addition, reporting companies created on or after January 1, 2024, are required to submit information about the individuals who formed the company.

What are the penalties for failing to file the report?
The BOI carries potential civil and criminal penalties:

Civil penalties for a violation are up to $500.00 per day, or
Criminal penalties of up to 2 years of imprisonment and/or a fine of up to $10,000.00

Need help?
I am going to be submitting reports for people and companies that need help. You can contact me at sjr@shawnjroberts.com for more

Am I an Oklahoma at-will employee if I have a written employment contract?

So, you are going to love the answer to this one! Ready?

The answer is I don’t know whether you are an at-will employee in Oklahoma if you have a written employment contract.

You might be thinking “This guy asked a question that he doesn’t know the answer to”. You would be correct by the way if you are thinking that! The important part here is the “why”.

I don’t know the answer to the question because having a written employment contract doesn’t mean you are not an Oklahoma “at-will” employee. What does determine if you are an Oklahoma “at-will” employee? Whether your employer has promised and you have accepted employment for a defined period of time. While you can read more about “at-will” in Oklahoma here, to summarize it:

An at-will employment relationship is one that can be terminated by either the employer or the employee for any reason or no reason at all, at any time.

A written employment contract may or may not make the employment relationship “at-will”, it depends on the terms of the written contract. Let me see the contract and I will give you an answer!

What does it mean to fund your Oklahoma living trust agreement?

Consider this: You build a house. It takes a year, a lot of money and a lot time. When it is complete and ready to move into, what do you have?

An empty house. Until you move your possessions into the house, the house is empty and vacant.

So to it is with an Oklahoma revocable living trust agreement: When you sign the trust agreement and bring it to life, what do you have? An empty trust. Until you move your possessions into it, the Trust has nothing and is of little to no value to you. The process of moving your possessions into your trust agreement is known as “funding” the trust.

An example may be helpful.

One item that is most important to transfer to your trust agreement is your home. Assuming your house is owned by you, if you pass away with it owned by you, your family will have to file and complete a probate case to change the title. You can avoid this probate by transferring title to your home to your trust agreement. We do this for you using a deed, as part of the estate planning process.

Transferring title to your home to your trust agreement is funding the trust.