I have given quite a few seminars over the past five years on estate planning and have answered many, many questions. I have also helped many clients and provided all the information I can so those clients can make a knowledgeable decision regarding their estate plan. So, I want to spend the next few posts going over questions I run into with estate planning to help spread more knowledge to the people of Altus and the surrounding areas of southwest Oklahoma (and the world).
Common Question: I have a will. It may be a few years old, but not much has changed in my life, so why do I need to review it and look at other areas of my estate plan.
The skinny: A will is the standard document most people think of with estate planning. It is based off of common law and was the standard for imposing your wishes back in turn of the century (the 16th Century!!) England. That being said, a Last Will and Testament still functions in the same way that a horse still functions for transportation…it will still get you there (distributing assets after your death), but it will just take a little longer and is not as comfortable for those going along with it (your surviving family).
Final Remarks That being said, it is advised to explore other options This site get levitra to overcome your premature ejaculation problem. American men are mostly purchasing this medicine because of men who ejaculate within one or two minutes after entering his penis inside order levitra djpaulkom.tv his partner’s vagina. One has to make sure that they get through the problem as and when they get to know they are going through this disorder. buy cialis online djpaulkom.tv As long as patients take the treatment according to the symptoms, for example, herbal medicine – diuretic and anti-inflammatory pill, this stubborn infertility disease can be viagra 100 mg look at this link cured eventually. What a Will does: Nothing, in and of itself. It is a document where one lays out his wishes while he is alive and has capacity for who he wants to get what after he dies. The Will cannot do this on its own and has to be presented to a probate court for actual proving and following through, according to the rules of the Court. It does let one name who gets what, and who is in charge, but other than that, there is little more a Will actually does.
What a Will does not do: It does not go into effect until the maker actually dies and is admitted by the Court, so it has no effect during the maker’s life. Thus, the Will does not plan for incapacity (where the maker can no longer sign for himself), taxes, or creditor protection. In addition, as mentioned above, the Will does not stand on its own, so it has to be presented to a probate court for authentication and interpretation. If court avoidance is an objective, one should look at a revocable trust, durable powers of attorney, or other planning.
Much like the transportation example above, there are many developments in the law related to estate planning. A last will and testament can work, but you should know your options when you look at your plan. As always, if you want to specifically review what you want to do, I will offer a complimentary consultation with the mention of this website. Just call 580-318-8829 to set up an appointment.