Lidia Law Firm, P.C.
Estate Planning & Business Law

December 2018 Archives

If you have a trust, do you still need a will?

When you set up a revocable trust in Oklahoma, you arrange for a trustee to hold some assets aside for distribution to one or more parties after your death according to the terms you stipulate. A revocable trust is also sometimes called a "living trust" because as long as you are still alive, you have the option of making changes to it as circumstances warrant. 

Why executors should deal with estate debt early

It is common for people to die with some debts still outstanding. However, just because someone in Oklahoma dies, it does not mean that the debts that person incurred in life die as well. Since those debts can come back to haunt the estate of the deceased, the executor of the estate should be proactive in alerting creditors that their debtor has passed.

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