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

estate administration & probate Archives

I'm only 30? Why do I need an estate plan?

If you are one of the many Oklahoma residents who is in your 20s or 30s, you might be very focused on establishing yourself as an independent adult. Moving out of your parents' home for good and being financially responsible for every aspect of your life can feel daunting but it can also feel very good as you learn that you are able to truly take care of yourself and manage your life. As you learn to do this, it is also useful for you to consider some basic estate planning.

Important estate planning tools

Many people in Oklahoma might think that an estate plan is all about a will or a trust. While these documents can be important elements in an estate plan, they are far from the only tools that a person should have in place to properly protect themselves, their assets and their family members.

How do estate sales work, and why are they beneficial?

“One man’s trash is another man’s treasure,” as they say. While you might not consider your parents’ possessions trash, you also might not have room for them or they do not suit your own taste. If you inherited heirlooms and other possessions from your parents that you do not want to keep, there is a way to rehome these items that is respectful and can convert this inheritance to cash. You and other Oklahoma residents may be interested in learning about estate sales.

Divorce and estate planning: What you should know

Going through a divorce can be extremely overwhelming. Not only are there are host of emotions involved, but there are many issues that must be negotiated when dealing with the divorce decree. One matter that must be considered is that of the estate plan. Whether you have already created an estate plan or you have yet to organize your estate, it is important to keep in mind a few factors when dealing with divorce.

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.

Late artist's estate sues over use of images in horror film

A common misconception that many in Edmond may have regarding estate administration is that it is a singular event. While that may be true in certain cases, many times estate administration can be a process that plays out over several years (even decades). This is especially true in the case of those who own properties that are put out for public consumption. Executors and personal representatives in these cases are tasked with ensuring that any intellectual or artistic properties belonging to an estate are not used without authorization (or if they are, that the estate is duly and adequately compensated for their use). 

What is the role of an executor?

As you prepare your estate, you will have to choose an executor. Understanding what the executor does will help ensure that you pick the right person for the job. According to Forbes, the main duty is for the executor to carry out your wishes. However, the job entails much more than that.

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