We have all heard the joke that only two things in life are certain: death and taxes. Unfortunately, this is not too far from the truth in many respects; and, even after an Oklahoma resident dies, there will be a number of tax issues to take care of during the estate administration process. In this article, we will discuss the filing and preparation of your deceased loved one's IRS 1040 form.
For fans of Monty Python and the Holy Grail, there is a popular scene that few people can forget. It’s the scene in which a man, with an old man slung over his shoulder, begins bartering with the grave digger to take the elderly man because he claims that he is dead. While the old man insists that he is not deceased, the two other men continue to discuss the very real possibility of him being dead despite the fact that the old man is clearly talking and, in fact, alive.
A recent case brought before a district court by AARP may have made a lot of people here in Oklahoma rethink how decisions made with their homes can affect their estate plans. That’s because the case brought up an interesting problem in some states when it comes to reverse mortgages and surviving spouses.