Oklahoma residents who undertake the probate process are unfortunately going to be dealing with a lot of potentially unfamiliar legal hurdles. Lidia Law Firm, P.C., is here to help you through as you decide what you need to do.
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.
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).
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.
Young adults in Oklahoma may think they will not need an estate plan until they are older. However, it is a good idea to start creating an estate plan early on, even when someone has just graduated from college and is starting his or her first job.
To Oklahoma residents like you, probate administration is likely a complex mess of legal terms and laws that you don't necessarily know. Lidia Law Firm is here to guide you through what can be an incredibly confusing and tricky legal area to navigate.
When Oklahoma residents put their estate plan together, it is important for them to think carefully about the person who will serve as their executor. According to FindLaw, the executor is usually in charge of the administrative and legal duties associated with your estate, and it is important to pick someone who can capably fulfill these duties.