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Welcome to Oklahoma Estate Planning Attorney.com
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The costs and expenses of a conservatorship are paid by your estate
A CONSERVATORSHIP is if you suffer from an incurable disease or are involved in a debilitating accident and are unable to manage your own affairs, state law might require someone to go to court to have a conservator appointed by the court. The conservator is given the authority to make financial decisions and handle your financial affairs, under court supervision, when you lack the capacity to manage them on your own.
In Oklahoma if you die without a will, your family could be in for more than they bargained for. You sons and daughters could be left fighting over their share of your estate. If you are located in another region of the country contact one of our estate planning attorneys nationwide. Don’t make them go through that hassle; contact our Oklahoma Estate Planning Lawyer to help get your affairs in order.
[1] Gross estate is shown at the value used to determine estate tax liability. The value could be determined as of the decedent's date of death or 6 months thereafter (i.e., alternate valuation method).[2] Includes U.S. territories, U.S. citizens domiciled abroad, and a small number of returns for whom State of residence was unknown.[All figures are estimates based on samples--money amounts are in thousands of dollars] in Oklahoma
Gross estate tax purposes
1,386
Gross estate tax Amount
2,415,958
Total allowable deductions Number
1,386
Total allowable deductions Amount
894,762
State death tax credit Number
987
State death tax credit Amount
58,207
Net estate tax Number
906
Net estate tax Amount
239,356
Source: Internal Revenue Service, Statistics of Income Division, Unpublished Data, April 2003.
Our Oklahoma Estate Planning Attorneys can help you decide how best to transfer property, and how to resolve other personal matters including tax planning. Estate-planning lawyers can also help you with the most important part of the estate planning process: Making a will.
If you don’t have a will, the state of Oklahoma will control who gets your property by default. While most states have their own unique laws descent and property distribution, most states give your children priority when it comes to doling our your possessions.
State laws are modeled after what the legislature thinks most people will want to do, but whatever the laws say might not be in line with your wishes. An estate-planning lawyer can help you draft a will that explains your wishes in great detail.
Our Oklahoma Estate Planning Attorneys can also help you set up a trust. A trust holds your property until your death and then disperses the property according to your wishes. Trusts can can be created by your will, or the can be revocable or irrevocable.
Most parents use trusts to better prepare for their children’s needs at the time of their death.
Issues and topics related to Oklahoma Estate Planning include:
Pensions and the Future of Savings
Audio, RM, 44 Kbps, 8:46, 11/17/2004
Pension plans were once considered a good bet for a comfortable retirement -- but these days it can all seem like a gamble. Major companies are defaulting on their pensions, and it's not clear who's going to pick up the tab. We discuss the future of pensions. Source: National Public Radio
Oklahoma External Sites
Graduate School, USDA
... Thrift Savings Plan withdrawal options and financial, estate and "life" planning. ... Review our retirement planning course sampler at
Newsroom
Latest news about Financial & Estate Planning in Oklahoma and nationwide:
Death Tax Laws Once A Death Occurs
Income Tax: Even after death, federal income taxes are still due by the April 15 deadline, just as they would be if the person was alive. If t... Read more >
Making A Will
The simplest way to ensure that your funds, property and personal effects will be distributed after your death according to your wishes is to prepa... Read more >
Definition:
The total of all assets, all debts and other obligations of an individual. At the time of death the total amount of benefits (life insurance, annuity and retirement benefits) to be paid to beneficiaries are often also considered part of the estate for Federal Estate Tax purposes
Interlineation
Definition:
Something written in-between; often a change to a typed document that is made by crossing out words and entering in replacement words. Never change an executed will or trust by interlineation.
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Did You Know?
Estate Tax Returns Filed in 2001: Gross
Graduate School, USDA