Derryberry & Naifeh, LLP
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October 2017 Archives

Estate planning is appropriate at any stage of life

The sad fact is that most people do not have a will. Many people in Oklahoma have the misconception that only wealthy seniors need to think about estate planning. However, this is far from the truth. There are many life events that may make an estate plan important, no matter the size of one's estate.

Probate administration takes its own sweet time

For some people in Oklahoma, their only experience with probate happens when someone close to them dies. In those instances, the heirs and benefactors may be shocked to learn how long it takes to complete probate administration, which is the legal procedure for validating a will and distributing its assets. Even a simple estate with few assets and limited heirs may take eight months or more before all aspects of probate are finished. However, there are certain factors that can tie up the process indefinitely.

Oklahoma man's drunk driving trial begins soon

An Oklahoma man with a criminal past is now facing an uncertain future. The 38-year-old man is accused of causing a fatal drunk driving accident in 2014 and is awaiting his trial, which is likely to start this week. Although the accident was horrific and tragic, everyone accused of a crime is entitled to a fair trial and the right to question the evidence presented by the prosecution.

Sentimental items may stall probate administration

When a loved one dies, surviving family members may feel fortunate to inherit his or her real estate, bank accounts and other valuable assets. However, for Oklahoma families where more value was placed on relationships and tradition, those inheritances may be secondary to the sentimental items that may not even be mentioned in a will. In these circumstances, it may be necessary to carefully guard the estate during probate administration.

Poor estate planning leaves heir with unexpected debt

Many hope to leave a little something behind for their loved ones when they pass from this life. With the help of careful estate planning, they may be able to simplify the often complex process that follows when someone dies in Oklahoma. However, without solid advice and guidance, it is possible that well-meaning loved ones may leave their heirs with unintended burdens.

Probate administration handles debts of an estate

When someone dies, there is often a focus on how the person's assets will be distributed. While some may anticipate an inheritance from a loved one's estate, what they may not realize is that an inheritance will only come after probate administration. This process involves many different elements, but one important factor is paying off the debts of the deceased. It is entirely possible that a loved one's debts will deplete some or all of the assets.

Woman with previous record arrested for drunk driving

With the increase in accidents and fatalities involving drugs and alcohol, police are on the alert for drivers showing signs of impairment. A driver accused of operating a vehicle under the influence may face an uncertain future, especially if he or she already has a record of similar offenses. Recently, an Oklahoma woman with a record of numerous convictions for drunk driving was arrested and charged with the same offense.

Hefner's estate planning may include Q-TIP trust

Like him or not, Hugh Hefner had an influence on society. The founder of Playboy magazine was known for his lavish, unbounded parties and was always flanked by beautiful women. When he died recently at the age of 91, many in Oklahoma may have wondered about the man's estate planning and the distribution of the fortune he spent his lifetime accumulating.

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