Tulsa Estate Planning Attorneys

Probate

After you pass away, your property and assets must be dealt with and your estate settled, regardless of whether or not you left a will. This process can be complicated and require considerable knowledge and an insider’s understanding of Oklahoma estate law. That is why Hensley and Associates, PLLC, offers probate administration services to properly and respectfully settle your estate administration.

We can:

• Carry out an inventory and appraisal of all assets
• Pay any debts you owed
• Collect all outstanding benefits and financial obligations owed to you
• Notify your beneficiaries of how the assets will be distributed
• Settle disputes about your will

Although many of these duties are technically the responsibility of your executor, we can minimize any confusion or stress they experience while carrying out your final wishes.

Common Estate Planning Mistakes

When planning your estate, it's easy to overlook critical details, leading to unintended consequences for you and your heirs. Here are some common mistakes people make:

• Not Having an Estate Plan: Many people delay creating an estate plan because they believe they don't have enough assets or that it's unnecessary until they're older. This leaves them vulnerable to state laws dictating how their estate is managed and distributed.
• Failing to Update Your Plan: Life changes such as marriage, divorce, the birth of a child, or the acquisition of significant assets necessitate updates to your estate plan. Failing to review and amend your plan can result in outdated instructions that do not reflect your current wishes.
• Neglecting to Plan for Incapacity: While many focus on what happens after they pass away, it's equally important to plan for potential incapacity. Without provisions like a durable power of attorney or healthcare proxy, your loved ones may face legal hurdles in managing your affairs or making medical decisions on your behalf.
• Overlooking Tax Implications: Without proper planning, a substantial portion of your estate may be lost to state and federal taxes. This can significantly reduce the inheritance your beneficiaries receive.
• Ignoring Digital Assets: In today's digital age, your online accounts and digital properties need to be included in your estate plan. Failure to do so can lead to difficulties in accessing and managing these assets after your death.

Working with an estate planning attorney can help you avoid these pitfalls. An experienced lawyer can provide tailored advice and create a comprehensive plan that reflects your unique circumstances and wishes. They ensure all aspects of estate law are considered, from executing valid and up-to-date documents to addressing tax implications and including digital assets. By consulting with an estate planning attorney, you can achieve greater peace of mind knowing that your estate is well-managed and your legacy protected.