Oklahoma Estate Planning

Oklahoma Estate Planning is about taking care of your family. The tools we use for Oklahoma Estate Planning are Trusts, Wills, Durable Power of Attorney, Living Wills and many other things.

What is a surviving spouse entitled to receive under Oklahoma law?

Oklahoma ice Larry Smith from Flicker https://flic.kr/p/iwixig License: https://creativecommons.org/licenses/by/2.0/

In an Oklahoma statute that is equal parts interesting and antiquated, the surviving spouse is entitled to get all of the following items after the death of the first spouse:

1. All family pictures.

2. A pew or other sitting in any house of worship.

3. A lot or lots in any burial ground.

4. The family Bible and all school books used by the family, and all other books used as part of the family library, not exceeding in value of One Hundred Dollars ($100.00).

5. All wearing apparel and clothing of the decedent and his family.

6. The provisions for the family necessary for one (1) year’s supply, either provided or growing, or both; and fuel necessary for one (1) year.

7. All household and kitchen furniture, including stoves, beds, bedsteads and bedding.

 

These are not the only things the surviving spouse is entitled to, but they are some of the items that the Oklahoma Legislature considered important when the statute was added in 1947!.

Title 58, Section 311.

The other thing to keep in mind is that none of these items are subject to be taken or sold to pay debts.  This means there is swath of items that creditors cannot touch under Oklahoma estate law, a necessary protection for family.

 

Oklahoma Estate Planning

Posted by Shawn Roberts in Blogposts, Oklahoma Estate Planning, Oklahoma Probate

Oklahoma estate planning: If I have a living trust, do I still need a will?

Vic from Flickr https://www.flickr.com/photos/59632563@N04/6239670686 License: https://creativecommons.org/licenses/by/2.0/

 

I have talked quite a bit both on this blog and in my Oklahoma estate planning podcast about how the living trust in last will and testament work together. However, I realize there are still some questions about why someone would have a will if they already have a living trust. Also, the question comes up “why would I need a trust if I already have a last will and testament”?

Usually when you have a living trust you will also have a last will and testament which is often known as a pour-over will. The purpose of this will is to send any property that has not been transferred to your trust at the time you pass away to the trust. The living trust is still the primary document that controls your estate and disposes of your property. The pour-over will is a safety net that simply provides that all of your property goes to your living trust.

If you have a fully functional last will and testament, you probably will not have a living trust. In this case, the last will and testament will actually determine where your property goes, nominate guardians for your minor children and address other issues related to death in the transfer of property.

If you want to find out more about these topics please consider listening to my podcast series which is 8 brief episodes providing more detail on estate planning. You can subscribe to the podcast, Estate Planning Demystified, in iTunes or listen to it right here.

Oklahoma Estate Planning

Posted by Shawn Roberts in Blogposts, Oklahoma Estate Planning, Oklahoma Probate

6 ways to avoid Oklahoma probate after death – the Series

I counsel people who desire to avoid probate to take the necessary steps now to get it done.  Usually, that means creating a living trust and/or re-titling real property.  However, I know from experience that things are not always done before death.

For that reason, I put together a six blog post series 6 ways to avoid Oklahoma probate after death about steps you can take following someone’s death to avoid Oklahoma probate while at the same time getting to the property.  You can find all the posts here on the blog but I am also providing the collection and links to each post below:

#1 Way to avoid Oklahoma probate after death – Small Estate Affidavit

#2 Way to Avoid Oklahoma probate after death – life estate or joint tenancy

#3 Way to avoid Oklahoma probate after death – Affidavit>Delivery>Personal Property

#4 Way to avoid Oklahoma probate after death – Government death benefits

#5 Way to Avoid Oklahoma probate after Death: Vehicles, Boats, Motors

#6 Way to avoid Oklahoma probate after death – Unclaimed Property

If you have questions about Oklahoma probate or transferring assets in Oklahoma after someone has died, please feel free to contact me at sjr@shawnjroberts.com

Posted by Shawn Roberts in Blogposts, Oklahoma Estate Planning, Oklahoma Probate