Okmulgee Estate Planning
& Probate Lawyer

Okmulgee Estate Planning & Probate Attorney

Throughout your life, you work and make decisions for the betterment of yourself and your family. You collect a variety of assets and investments that ensure a stable and secure future. As life progresses, you may start to worry about how those same protections will carry on for your family. With an Okmulgee estate planning & probate lawyer, you can ensure that your final guidance and long-term care for those you love to remain in place even after you are gone.

At Eagan Law Office, PLLC, our team has the experience and knowledge needed to help you prepare for your family’s future. Estate planning is more than just a will; it is ensuring that your final wishes are carried out. That means appointing the person to oversee the execution of your wishes. Our team can help you choose the person right for you and help ensure the documents are properly prepared to avoid future complications.

Estate Planning and Probate Services

Whether you’d like to create a will, trust, power of attorney or are seeking assistance with probate administration, we can help. Both estate planning and probate are defined below:

• Estate Planning: Estate planning includes subjects such as Wills, Trusts, Durable Power of Attorney (DPOA), and Living Wills. Your estate is comprised of everything you own – your house and other real estate, car, bank accounts and investments, and personal possessions. When you plan for your estate, you control who receives your possessions when you pass away or become incapacitated, and when they receive them. You also appoint whom will be responsible for making sure this is carried out. The staff at Eagan Law Office has extensive experience in helping clients with Estate Planning, let us put you at ease.

• Probate: A Probate is a legal process in which a will is reviewed by the Court to determine validity. Probate also refers to the process of administering a deceased person’s estate in the event they did not have a will. During the Probate and administration process, the Court will also handle the debts of the deceased person through distribution of the decedent’s estate.

What Are the Basics of Estate Planning?

Estate planning begins by determining what type of preparation is needed to suit your unique circumstances. There are several ways in which estate planning can occur in Okmulgee, OK. These include:

• A will is a document that explains how a person would like their assets divided upon their death. In a will, assets can be donated to charity, dispersed amongst surviving relatives, or given to a single individual. A will requires the probate process before any assets can be distributed.
• Similar to a will, a trust establishes to whom assets should be distributed. However, a trust can be structured in multiple ways. Advantages of a trust include creating specifications for how assets should be divided, specific points of time at which those can be divided, and the structure of the division to help with long-term financial needs. Any assets that are held by a trust do not require the probate process to be distributed.
• Financial Power of Attorney. Granting Durable Power of Attorney occurs when you name a person who will make financial decisions on your behalf in the event you are deemed incapacitated. In such situations, you will want someone you can trust who is aligned with the same financial goals as you.

• Medical Power of Attorney. Like a Financial Power of Attorney, this person is granted rights to make decisions on your behalf for medical reasons if you are incapacitated. This, too, can be a complicated decision, as you want someone who knows your medical wishes, may align with your views religiously, and more.
• Advance Directive. This is similar to a medical power of attorney in that it grants the power to make medical decisions; however, it specifically includes terms for decisions related to end-of-life. This includes decisions surrounding the use of life support and artificial hydration and nutrition.

In addition to these situations, estate planning can also include decisions surrounding business succession, estate taxes, Medicaid, asset protection, and decisions regarding special needs.

How Much Does Probate Cost in Oklahoma?

The cost of probate in Oklahoma depends on the circumstances of your needs and your estate. Factors that contribute to the costs you could incur include:

• The size of the estate
• The likelihood your estate will be contested
• Which type of estate planning you engage in
• The experience of your attorney
• Court filing fees

These costs are just a few of the financial obligations you could have. Your attorney will be able to outline your specific needs depending on your estate.

Attorney fees will vary based on the experience they bring with them. Generally, attorneys will charge between $225 and $350 per hour.

How Much Does an Estate Have to Be Worth to Go to Probate in Oklahoma?

The value of your estate and the type of assets that you own will determine if probate is necessary. If an estate has a value of less than $50,000.00 and does not contain any real property, the heirs of a decedent may be able to take advantage of a simplified process with a small estate affidavit. However, this applies only in limited circumstances, and you should consult an Okmulgee Estate Planning & Probate Lawyer to determine which option is right for the circumstance.

What Rights Do Beneficiaries Have in Oklahoma?

Most beneficiaries feel their right is to collect the assets that were named to them in an estate; however, they have additional rights that can be used to their benefit. Rights that beneficiaries have include:

• Beneficiaries have a right to stay informed on the estate and the administration process. This includes accounting statements listing both debts and assets as well as a timeline for distribution.
• Accounting of assets. Beneficiaries are entitled to an accounting of the assets in an estate, including any financial transactions that may have occurred.
• Contesting an estate plan. If a beneficiary feels the estate plan was made under duress or as the result of fraudulent actions, they have a right to contest the final arrangements.
• Fair treatment. Beneficiaries have the right to receive fair treatment from all parties involved. Personal Representatives, in particular, are required to act on behalf of estate as set forth by statute.

These are a few of the rights that beneficiaries are entitled to. As a beneficiary, if you feel there are discrepancies with an estate in which you are named, you should seek the counsel of an attorney.

Is a Handwritten Will Valid in Oklahoma?

Oklahoma allows for the execution of a will that is handwritten. These types of wills are called holographic wills and are written, signed, and dated by the person whose assets are named in the will. Because these wills are made in the person’s original handwriting, they do not need to be signed in the presence of a witness. These types of wills can be beneficial but also very complicated. Be cautious, as this means you may have written a note that is legally binding.

Contact Okmulgee Estate Planning & Probate Lawyer

Estate planning can be difficult and sometimes contentious, but with the right attorney, you can work through the process and ensure that your assets are handled to the specifications of your final wishes.

At Eagan Law Office, PLLC, our team brings the knowledge and experience needed to help you navigate these often-difficult decisions. Contact our offices today and find out how we can help you plan for the future.