Derryberry & Naifeh, LLP
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August 2016 Archives

Wills, powers of attorney need an update when remarrying

Not all first marriages work out, and many divorcees in Oklahoma go on to find happiness in second or even third marriages. However, these subsequent marriages can require special attention during estate planning. Wills, trusts and other important documents often need to be revised, otherwise there is the possibility that a person's true final wishes might not actually be respected.

Estate planning not a priority for high number of Americans

Estate plans are one of the most effective tools for individuals in Oklahoma to handle their finances and assets both before and after death. Despite this, the vast majority of Americans still lack even a basic will. Ignoring estate planning needs could mean more than just the state distributing a person's assets as it seems fit; it could also mean a headache for surviving loved ones.

Which trusts are useful for estate planning?

Each individual in Oklahoma has unique needs that must be addressed during estate planning, and while these needs will differ from person to person, the means to address them might be surprisingly similar. Trusts can be utilized in a variety of ways that can prove to be useful both before and after death. Whether the goal is to avoid probate, protect finances or maintain privacy, trusts can usually be helpful.

Power of attorney is not just for senior citizens

Most people In Oklahoma understand how important it is for their elderly parents to have health care directives in place. They may also encourage their aging family members to assign a durable power of attorney in case they should become disabled and need someone to make important medical or financial decisions for them. However, many overlook the fact that there may be younger people in the family who are in similarly vulnerable positions.

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