On average, you should review and update your estate plan every 3-5 years. But life is unpredictable, and certain events may necessitate a more immediate update.

Important Times to Update Your Will or Estate Plan

1. Marriage

Marriage is one of the most life-altering events, and it should immediately trigger an update to your estate plan. You’ll want to ensure your new spouse is adequately provided for in your Will and trusts, as well as update any beneficiaries on your life insurance policies, retirement accounts, and other assets. 

Additionally, updating your power of attorney to include your spouse is crucial to ensure they can make financial or healthcare decisions for you in the event of your incapacity.

2. Divorce

Divorce is another significant life event that demands immediate action regarding your estate plan. Without updating your plan, there’s a chance that your ex-spouse could inherit a larger portion of your assets than you intended. 

After a divorce, you should update your Will, trusts, and beneficiary designations to reflect your new wishes. If you’ve named your ex-spouse as the executor of your estate or the beneficiary of retirement accounts, these should also be adjusted.

3. Bearing Children

Welcoming a new child into your life, whether through birth or adoption, is an exciting and joyous occasion that should be reflected in your estate plan. You may want to create a trust for your child to ensure they’re financially supported in the future. 

Additionally, naming a guardian for your minor children in your estate plan is essential for ensuring they’re cared for by someone you trust if something happens to you.

4. Dealing with Family Deaths

The loss of a family member can affect your estate plan in several ways, especially if that individual was named as a beneficiary or executor in your plan. 

If someone listed in your estate plan passes away, it’s important to update the plan to remove them or assign their share to another beneficiary. This ensures your assets are properly distributed and prevents legal disputes among your surviving family members.

5. Acquiring Significant Property

Buying a new home, receiving an inheritance, or coming into a large sum of money are all significant life events that should prompt a review of your estate plan. You’ll need to decide who will inherit these assets and how they should be distributed. 

Failing to account for new property or wealth in your estate plan could lead to those assets not being distributed according to your wishes.

6. Starting or Dissolving a Business

If you start or dissolve a business, it’s important to update your estate plan to reflect these changes. You should specify what happens to the business if you become incapacitated or pass away. 

An updated estate plan can prevent the business from falling into disarray or being handled by someone who doesn’t have the knowledge or experience to manage it properly.

7. Moving Between States

Relocating to a different state often involves new laws regarding estate planning, taxes, and property distribution. Different states may treat assets and financial arrangements differently, which could complicate your estate plan if not updated accordingly. 

If you move to another state, it’s important to consult with an attorney to ensure your estate plan is compliant with the laws of your new home.

8. Significant Financial Changes

A dramatic increase or decrease in your financial situation should trigger a review of your estate plan. Whether it’s a promotion that significantly boosts your income, a sudden windfall, or a financial downturn, your estate plan should reflect your current financial status to ensure assets are distributed in line with your wishes.

Protecting Your Legacy Through Regular Estate Plan Updates

Life is constantly changing, and your estate plan needs to keep pace with these changes to protect your loved ones and ensure your wishes are carried out. By revisiting your estate plan every few years and after significant life events, you can have peace of mind knowing that your assets will be distributed as intended. 

If you need to update your existing estate plan or have yet to create one, don’t hesitate to reach out to our team! We are ready to partner with you in this important endeavor.

The post How Often Should I Update My Will or Estate Plan? first appeared on Gary Crews | Tulsa Probate Attorney.

In our last blog, we gave you a basic understanding of probate law through questions 1-6 in our Oklahoma Probate Law Q & A. Gain a greater understanding through the following questions and answers, 7-14. Here’s our Oklahoma Probate Law Q & A Part 2.

7. Can I still use a power of attorney after the death of my spouse or family member?

No.  When a person dies, the power of attorney immediately terminates. The attorney-in-fact named in the power of attorney document has no legal authority to transact business on behalf of the decedent. After someone passes away, the authority to act on behalf of the decedent shifts to the court-appointed executor or the successor trustee of a trust.

8. Will bank accounts be frozen?

Banks and other financial institutions will freeze accounts that are titled in the decedent’s name alone.  You will need a death certificate, and letters of authority from the probate court to have access to the account.  A joint account will not be frozen and will remain fully and immediately available.

9. Can I access a safety deposit box?

If the decedent is the only registered owner of the safety deposit box, then you will need to obtain a court order from the probate court to prove you are the Personal Representative in order to gain access to the box.  However, the bank should allow you access to determine if there is a Last Will & Testament or Trust in the box.  If the safety deposit box is in two names, the surviving owner will have access to the box.

10. What are the costs and fees associated with a probate administration?

The actual costs and fees will depend upon the size of the estate, the nature of your assets, and the attorney fees. Additional issues may arise that could increase the cost of administration, including Will contests, estate tax audits, or the transfer of difficult assets such as closely held family businesses, or out-of-state real estate.

11. How long will Probate take?

Typically, the estate administration process takes approximately six months to one year. More complicated estates may take longer.

12. Who files the Petition?

The Petition must be filed by an “Interested Person” as defined by statute.  Often it is the Personal Representative named in the Will.  If no Will, it is often a son, daughter, or another person that would inherit under the law.

13. What is the role of the Personal Representative?

The Personal Representative of an estate is the person who is responsible for the administration of the estate. They must identify and evaluate the assets, identify and pay all liabilities, sell the assets that need to be sold, and final income tax and estate tax returns prepared and filed. Finally, the PR distributes the assets in accordance with the terms of the Will or Statute if there is no Will.

14. What does a Personal Representative get paid?

State Statute sets the executor’s fee. The executor’s fee is a percentage of the value of the assets of the estate. There is a fee schedule upon which the executor’s fee is determined on the value of the assets of the estate depending upon the size of the estate.

In Conclusion

Each estate and family situation is unique.  Most people faced with handling the estate of a loved one have not done so before.  It is best to work with an attorney familiar with the process to guide you through.  If you do not, the process will take longer, you may frustrate the Probate Court, and you will likely make mistakes.  You can reduce stress and the burden placed on you, by finding the right attorney to work with.  We at Gary W. Crews, PLLC are experienced in Probates.

If you are the Personal Representative, you likely take this role very seriously and realize that gathering the estate assets, paying the creditors, and dividing up all the property and money, down to the last detail is important to the family and family relationships.  This is true whether the estate is large or small.  Although the deceased person is gone, the family must continue to live together and get along.  Your attorney should be sensitive to this also, along with the legal requirements and nuances.

I will be happy to talk with you about handling an estate after death and planning for these issues in advance.  Please contact me.

THIS DOCUMENT IS NOT LEGAL ADVICE AND MAY NOT BE DEEMED TO BE LEGAL ADVICE.  IT DEALS ONLY WITH THE MATERIAL SPECIFICALLY DISCUSSED HERE.  YOUR SITUATION WILL BE BASED ON YOUR OWN FACTS AND CIRCUMSTANCES.  YOU ARE ENCOURAGED TO SEEK THE ASSISTANCE OF YOUR OWN LEGAL COUNSEL AND TAX ADVISOR.

The post Oklahoma Probate Law Q & A Part 2 first appeared on Gary Crews | Tulsa Probate Attorney.

Oklahoma Probate Law

This will be a three-part series focusing on the most common questions we get asked about Oklahoma probate law. Let’s start by explaining what probate is, what it is for, and how you fit in. Often, those most concerned about probate after a loved one has passed, are those either named as the Personal Representative of the estate or are simply the one left with the responsibility of sorting things out.

1. What do I do first after the death of my spouse or family member?

The first steps that are taken after the death of a loved one are as follows:
-Notify family members, friends, church, and next of kin… NOT the bank.
-Meet with the funeral home to make the necessary funeral arrangements and order death certificates.
-Search for the Last Will & Testament to determine who is listed as the Personal Representative of the estate and whether any funeral instructions have been included in the Will.

2. What is probate?

Probate is a legal process that is based on state statutes which details what happens to a person’s property when they die. The Probate proceeding is supervised by the Probate court in which the decedent’s probate assets are administrated and distributed to the decedent’s heirs, devisees and legatees. The court supervises the process of gathering assets, selling assets, paying debts, determining the rightful heirs, and accounting for the distributions.

3. What happens if there is no Will?

Oklahoma Statutes determine where the assets are distributed if a person dies without a Will, (called intestate). The Probate Court will appoint a person (usually a family member) to be the Personal Representative of the estate. The Court will also appoint guardians for any minor children of the person who died. The PR will be in charge of distributing the assets. The distribution will depend upon the marital status of the decedent; if there are children; if the children are the natural children of the surviving spouse.

4. What are the steps of Probate?

-File the Probate Petition and the Last Will & Testament, if any, pay the filing fee with the probate court
-Send notice of the filing of the Will to all persons listed in the Will and those who would inherit.
– Along with the Petition must be attached various other forms and documents so that the court has what it needs to make certain determinations as provided by law.
-Have the Administrator or Personal Representative appointed. Once appointed, the Probate court issues a court order and issues “Letters Testamentary”
-Appraise and value the assets
-File an inventory listing the assets in the probate estate
-Send notice of the filing of the inventory to the heirs
-Resolve Will contests, if any
-Resolve creditor claims, if any
-File estate tax returns
-File a Final Account showing all distributions from the estate
-Transfer assets to the heirs

5. Will my estate go through probate?

Whether an estate goes through Probate or not, depends on how the decedent held assets and what types of assets were owned at the time of death. Certain assets have to go through probate, other assets do not. All assets that are titled in the decedent’s individual name alone and do not also have a surviving joint account holder or designated beneficiary, usually must go through probate.

6. What assets can avoid going through Probate?

-Jointly held property with right of survivorship
-Life insurance and annuities with named beneficiaries
-Retirement plans, IRAs, and pensions
-Assets held in a Living Trust at the time of a decedent’s death
-Payable on Death accounts
-Transfer on Death deeds for real estate

Conclusion

Each estate and family situation is unique. Most people faced with handling the estate of a loved one have not done so before. It is best to work with an attorney familiar with the process to guide you through. If you do not, the process will take longer, you may frustrate the Probate Court, and you will likely make mistakes. You can reduce stress and the burden placed on you, by finding the right attorney to work with. We at Gary W. Crews, PLLC are experienced in Probates.

If you are the Personal Representative, you likely take this role very seriously and realize that gathering the estate assets, paying the creditors, and dividing up all the property and money, down to the last detail is important to the family and family relationships. This is true whether the estate is large or small. Although the deceased person is gone, the family must continue to live together and get along. Your attorney should be sensitive to this also, along with the legal requirements and nuances.

I will be happy to talk with you about how to handle an estate after death and planning for these issues in advance. Please contact me.

THIS DOCUMENT IS NOT LEGAL ADVICE AND MAY NOT BE DEEMED TO BE LEGAL ADVICE. IT DEALS ONLY WITH THE MATERIAL SPECIFICALLY DISCUSSED HERE. YOUR SITUATION WILL BE BASED ON YOUR OWN FACTS AND CIRCUMSTANCES. YOU ARE ENCOURAGED TO SEEK THE ASSISTANCE OF YOUR OWN LEGAL COUNSEL AND TAX ADVISOR.

More in our next issue…

The post Oklahoma Probate Q & A Part 1 first appeared on Gary Crews | Tulsa Probate Attorney.

Hiring a probate lawyer is an important part of honoring the wishes of the deceased by executing their will properly. Today, we will address several probate lawyer frequently asked questions. By answering questions surrounding the topic of probate law, we hope to give you a better insight into why hiring a probate lawyer during the probate process is so crucial.

What exactly does a probate lawyer do? Why can’t you handle the probate process by yourself? Do you still need to hire a probate lawyer when there is an official will in place? These, as well as other questions, will be answered in this post. 

What is Probate Law?

Before we can dive into what a probate lawyer is, we must establish a basic understanding of probate law. Probate law typically refers to the process of determining the validity of the will of the deceased. The probate process includes settling the remaining debts of the deceased. It also involves distributing the remaining property to the beneficiaries of the will.

Depending on the state of the property and affairs of the deceased upon death, the probate process can be highly involved and complicated. However, if the deceased had their affairs in order before death, the probate process can be simple. In some situations, probate is not necessary. However, a probate lawyer should be the person who determines if probate is necessary or not.

Probate is often the very best way to ensure that your loved one’s wishes are met upon their passing. Probate law is a complex process. However, with the assistance of an experienced probate lawyer, this process can be smooth and uncomplicated.

What Does a Probate Lawyer Do?

The main job of a probate lawyer is to walk with you throughout the entire probate process. A probate lawyer is a representative for everyone involved including the administrators of the estate and any other family members that are interested in the distribution of the deceased’s will. Probate lawyers have valuable experience in dealing with issues regarding any outstanding debt, federal and state laws, and all of the other important facets of executing a will. A probate lawyer’s expertise and attention to detail will offer great peace of mind in knowing that you are handling the entire process both efficiently and legally. 

Probate lawyers can also assist in the creation of a trust or will preceding your death. Having these documents in place before your death is the best way to be sure that your wishes are carried out after your passing.

Why Should I Hire a Probate Lawyer?

Although hiring a probate lawyer is not a requirement in most states, it is always a good idea. A probate lawyer will be able to walk you through the probate process with ease. This is especially helpful during a time of grief that is full of emotion and tough decisions. An expert in probate law will ensure that the deceased’s will is in order. They will also assist in settling any outstanding debt or legal matters.

Probate lawyers also eliminate any oversight on your part as you work through the probate process. They offer valuable insight into the situation. A probate lawyer is also very helpful in interpreting confusing legal documents that would otherwise be incredibly frustrating.

A probate lawyer is familiar with both the federal and state laws surrounding probate and the settling of a will. Because of this, you can have confidence in knowing that the settling of your loved one’s estate completely legal.

Can I Handle the Probate on My Own? 

Technically, yes. Heirs to the estate can legally handle the probate process on their own. However, this is very unwise. There are many laws which you must observe during the probate process including real estate laws, tax laws, and probate laws, just to name a few. Oversight in any of these areas will have ramifications on the heir, creating a tense situation which is completely unnecessary. 

In addition to the legal matters, handling the probate process as an heir may lead to stress between family members. During an already difficult time, it is wise to bring in an outsider to eliminate any other hurt that may occur between the loved ones of the deceased.

Is a Probate Lawyer Necessary When There is a Will?

It is always a wise idea to have a will in place. If your loved one had a valid will, the probate process will go a lot more smoothly. In this situation, a probate lawyer will be able to advise the administrator of the will as well as the beneficiaries on any legal matters that may arise.

When an official will is in place, a probate lawyer will also be responsible for accomplishing tasks dealing with life insurance, real estate taxes, and securing the deceased’s property. These tasks are both overwhelming and time-consuming. A probate lawyer ensures that all aspects of the process are taken care of. This allows you to focus on what really matters during this trying time. 

Should You Hire a Probate Lawyer When There is No Will?

Although it is ideal to have an official will in place before passing, this is not always possible. If your loved one did not have a valid will in place before their death, there are state rules which govern how the remaining property will be distributed. In this situation, a probate lawyer will assist the administrator of the will in abiding by all state laws during the process. A probate lawyer will also assist in establishing the legal estate administrator. Handling this process through a probate lawyer will eliminate uncertainty between family members and loved ones.

Is a Probate Lawyer Worth the Investment?

Probate lawyers are most certainly worth the investment. Working with a probate lawyer while you are alive will ensure that your wishes are carried out upon your death. Establishing your written wishes through a probate lawyer will also provide your family with comfort and less stress upon your passing.

Hiring a probate lawyer while you are in the process of settling a loved one’s estate is a wise idea. Although it is an investment, it will help you in avoiding costly legal errors. Probate lawyers assist the probate process by taking care of the small (and also larger) issues that may slip through the cracks.

How is a Probate Lawyer Paid?

Each probate lawyer has their own method of charging for their work. There are a few billing options including hourly billing, a flat fee, or a percentage of the estate’s overall value. It is wise to conduct research when deciding which probate lawyer to work with to be sure you are getting the most value for your investment. 

Although experienced probate lawyers may charge a higher rate, they are typically much more efficient in completing the probate case. Because of this, hiring a probate lawyer that specializes in this area may actually save you money in the long run.

What Should I Bring to the Probate Lawyer?

When you meet with the probate lawyer for the first time, it is wise to bring the correct documentation necessary to start on the probate process. Failure to bring the correct paperwork will result in unnecessary and frustrating delays. The probate lawyer you decide to work with will provide you with a detailed explanation of the documents they need to start working on your individual case. However, here is just a general idea of the items that they may require.

• A Death Certificate is necessary to begin the probate process.  This certificate is usually available within a month of the deceased’s passing. Although you may schedule the initial meeting with a probate lawyer before receiving this certificate, they will not be able to begin the official work. In addition to this, it may be wise to wait several weeks after your loved one’s passing so that you are able to think clearly during the important legal meetings required during the probate process.
• Important Addresses including those of all the relatives of the deceased are necessary to complete the probate process. Although it may be tricky to find these addresses, it is an important part of the legal process of notifying the living relatives.
• Banking Information including all the statements for all remaining bank accounts, IRAs, and CDs. Simply bringing the most recent statement will be sufficient. However, you may need additional information at a later date.
• The Official Will and Trust are necessary documents in the probate process. Several states require that the official will is deposited within a set amount of time following a death. A probate lawyer will assist you in the process.

• Additional Information including a thorough list of assets (property, vehicles, investments, etc.) and important documents. It is better to have too much information than too little. The probate lawyer will assist you in determining which documents are important to keep during the probate process.

How Do I Find a Probate Lawyer?

Finding a probate lawyer can be an overwhelming task during such a trying time. Because of this, it is wise to do your research before you need to make the decision. If you have a law firm that you have worked with in the past, contact them to see if they handle probate law. Even if that is not one of their specialties, they will be able to suggest other experienced probate lawyers in your area. 

Ask Questions

When you find a probate lawyer, be sure to ask plenty of questions before you hire them for your case. Because this is such an intimate situation, you need to be confident in their abilities and comfortable discussing important matters. Ask the probate lawyer how many cases they have handled previously, how they charge their clients, and how long it will take them to complete the process. There are many other questions you can ask your probate lawyer depending on your unique situation. It is always wise to ask any question that comes to mind before making this important decision.

Conduct Research

As with any big decision, it is also wise to conduct thorough research. Researching a probate lawyer in your area is relatively simple. Reading online reviews of their law firm through platforms like Google is an excellent way to hear what their former clients have to say about their experiences. 

Word of mouth is also a powerful tool. Ask around to see if your friends or family have a probate lawyer they would suggest. Oftentimes, real-life reviews will give you a better insight into what you can expect when working with an individual probate lawyer than meeting with the lawyer will.

Final Thoughts

Probate law is a complex and confusing field. Because of this, it is wise to hire a probate lawyer that is an expert in the field. Gary Crews is an accomplished Tulsa probate lawyer. He takes great pride in navigating through the probate process with each of his clients. Hiring an experienced probate lawyer like Gary Crews will ensure that the entire probate process is efficient and economical. A probate lawyer should be dedicated to your probate case and highly responsive to your needs during this time. Those are just a few of the ways this Tulsa probate lawyer sets himself apart. 

If you are looking for an estate planning lawyer or probate lawyer in the Tulsa area, Gary Crews is here for you. With over 20 years of experience, you can be sure that your probate case will be addressed with the greatest detail. Click here for more information about hiring Gary Crews as your probate lawyer.

The post Probate Lawyer Frequently Asked Questions first appeared on Gary Crews | Tulsa Probate Attorney.

Tulsa’s Best Probate Lawyer

When an estate goes to probate court you can face complicated legal issues. You do not want to deal with the legal side of handling an estate without experienced and professional legal counsel.

Why is Gary Crews Tulsa’s Best Probate Lawyer? Gary Crews is Tulsa’s Best Probate Lawyer because he has a proven track record of guiding clients with expert legal counsel. Top probate lawyer Gary Crews has been highly awarded for his professional expertise, diligence, and customer care.

It has been said that you will usually find what you are looking for. Searching usually goes better if you have some parameters to work in. In this post, we are going to look at some criteria that are important when searching for the best Tulsa probate lawyer and why Gary Crews is a wonderful choice for your legal needs, especially in the area of probate law.

How do I find the right probate lawyer to work with?

If you are looking for a probate lawyer it can be helpful to establish clear parameters that will help you narrow down the right fit for you. You could, I suppose grab a phonebook (if you can still find one) and call the first lawyer you see. However, that’s probably not the best approach. Legal issues are far too important to leave to chance. You want to work with someone experienced, spoken of highly by past clients, well certified in their legal field, and highly experienced in your specific legal need. Gary Crews meets all of these critical areas of concern which is why he has gained a reputation as Tulsa’s Best Probate Lawyer. Let’s look at each of these areas in more detail.

Look for a Tulsa Probate Lawyer that is highly recommended by others.

Whether you are choosing a plumber, a mechanic, or a probate lawyer we all rely heavily on the opinions of others when we are choosing a professional to serve us. What have been people been saying about working with Gary Crews?

Let’s look at a few testimonials from some of Gary’s clients.

“Mr. Crews has provided my family legal and investment counsel for nearly 20 years. His proactive guidance reduced risks to my LLC during the national financial crisis. He consistently positions himself above partiality in representing fairness to all members of our family during estate planning. Perhaps above all, he has been present to take care of the physical needs of our family during health crises over the last few years.” -David Ritz

“We met with Gary to review of our Estate Plan and update all the associated documents. Our Revocable Joint Living Trust documents, Last Will & Testaments, and Health Care Power of Attorney’s for both my wife and I were reviewed and updated. We executed a Trust Amendment to incorporate changes over the past 17 years. It was a significant overhaul which included filing Quit Claim deeds on property purchased recently. Gary did a great job in getting us focused on all of the items that needed attention and getting everything current – it was far easier than expected.” -Allen and Bonnie Johnson

I could go on with more testimonials for happy clients but we don’t have time. I think you get the idea. We still have three other important things to consider when choosing the right probate lawyer.

Choose a Probate Lawyer that is well certified.

It’s important to find a lawyer that is well certified and a part of well-established associations.

Gary Crews is a member of the National Academy of Elder Law Attorneys, the Oklahoma Bar Association, The University of Tulsa College of Law, and the ElderCare Matters Alliance. His education and involvement with these organizations combined with over 20 years of experiencing practicing law make him highly qualified legal counsel.

Look for a Probate lawyer with experience.

With over 20 years of experience practicing law and handling estates in probate court, Gary Crews has become Tulsa’s Best Probate Lawyer. Many different issues can come up with probate law, sometimes the problems can be unexpected or tense with a conflict between family members. Gary Crews knows how to navigate these issues and make sure that the estate is handled properly. He is also able to help with issues such as estate planning, writing up a will and testament, setting up a living trust, and helping estates legally avoid unnecessary and burdensome taxation issues.

Find a probate attorney that also has expertise in a variety of important legal areas.

You may have heard the phrase, “Jack of all trades, master of none.” The idea that those that achieve great success and mastery are always highly specialized in one narrow niche area. The common belief is that mastery and generalization cannot co-exist.

New research on high-performance people has begun to challenge this idea. In his book “Range” David Epstein shows how many of the world’s highest-performing people benefitted greatly from a range of experience across other disciplines, industries, and practices. In any complex environment, generalists may actually have a problem-solving advantage over specialists.

They can pull lessons learned from one area and use it in another. This is not to say that there is not an advantage to specializing but research seems to back up the idea that high performers that specialize do best if they have first experienced a wide range of things outside of their area of specialization. Gary Crews has legal experience in a range of fields including oil and gas law, elder care, personal injury cases, estate planning and more. This range of experience gives him the ability to be a highly competent legal problem solver.

How do I work with Tulsa’s Best Probate Lawyer?

Thank you for reading our legal blog! If you are currently in need of a probate attorney Tulsa lawyer or are needing help with estate planning, writing up a will or other legal issues, the best way to get started is to reach out to Gary Crews Law by calling them at 918-493-3360 and set up your consultation appointment today. When it comes to estate planning, the best time to get started is always today. 

The post Tulsa’s Best Probate Lawyer first appeared on Gary Crews | Tulsa Probate Attorney.

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Life can be difficult to plan for and it often does not turn out as we would expect. We often feel disconnected from our future selves and put off making critical plans for the future. Many people put off estate planning and addressing difficult issues of how they wish to be cared for in their elder years. Some seniors, unfortunately, take the stance of, “When I need your help, I’ll let you know.”

Thinking we can postpone planning and will know when we need help is a dangerous myth to believe in. In most cases when we reach the point where we need help we are often unaware or unable to ask for it and we suffer as a result of not planning ahead. Failing to plan for our elder years often leads to tragic consequences. It is vitally important that we do not succumb to myths about what life will be like in our elder years and put off putting a plan in place today that could help us in the future.

Senior Myths That Could Lead To Disaster

1. When I need your help I’ll let you know.
2. I will live in my own home until I die.
3. When I am old, ill, and dying, my family will take care of me.
4. When I can no longer manage my money and financial affairs, a trusted person will handle my finances.
5. I don’t want or need to do any estate planning or write a will because my family will sort it all out when I die.

Why Is It So Difficult To Plan for the Future?

One of the things that make humans unique is our ability to visualize and shape our futures. We try to look at our present reality and experiences and project that into a future reality. Unfortunately, there is bad news for all of us when it comes to planning for the future. We are really bad at it. We often cannot simply see dangers ahead and have a difficult time confronting difficult things in our present moment.

“It does not do to leave a live dragon out of your calculations if you live near him.” -J.R.R Tolkien in “The Hobbit”

How can we avoid dangerous myths and plan for our future?

Close The Mental Gap Between Your Present Self and Future Self

One of the biggest reasons we struggle to plan for the future is because we feel disconnected from our future selves. Hal Hershfield, a marketing professor at UCLA researched how being disconnected from our future selves affected how we save money in the present. In one experiment Hershfield discovered that people were likely to save sooner and save more if they were shown a digitally aged photo of themselves. When we close the gap between our future and present selves we can begin to make better decisions and plan ahead.

Take a moment today to try to visualize what your future might be like or help a loved one try to connect the dots and think about what life might be like in the future. The more we can connect the future to the present the more likely we will be to take action today.

Be willing to push through a little pain today to avoid more pain tomorrow.

Our biggest weakness when it comes to future planning as humans are our propensity to always push pain and uncomfortable tasks to the future. In an odd experiment by Princeton psychologist Emily Pronin, students thought they were participating in a study about disgust. Participants were asked to drink a gross liquid for the good of science. Those who were signed up to drink the liquid that day volunteered to consume only two tablespoons, on average. However, those who were signed up to drink the liquid next semester volunteered to drink half a cup on average. It seems that pain and discomfort is a bitter pill that we always opt for our future selves to swallow.

It may be a little uncomfortable to start thinking about estate planning or pick up the phone to call a legal professional to set up an appointment. It may be uncomfortable to bring up the topic with someone you care about. However facing discomfort and inconvenience now can help avoid an enormous amount of pain, disappointment in the future.

Don’t fall for any of these senior myths, start planning today for yourself and for those you care about.

The post Senior Myths That Lead To Disaster first appeared on Gary Crews | Tulsa Probate Attorney.

If someone you know has passed away and you find yourself dealing with matters of their estate you will be very thankful for the help of an expert in those matters. A Tulsa probate lawyer is a state-licensed attorney who through education, training and experience can advise personal representatives of an estate, commonly called executors or beneficiaries on legal matters related to settling the details of an estate from a deceased person, often referred to as a decedent.

What does a probate lawyer do?

A probate lawyer assists executors of the estate (or “administrators in the case of no will) manage the probate process. Probate is defined as the official proving of a will. A probate lawyer helps determine how the assets of an estate should be handled and distributed. A probate lawyer also helps with estate planning, drafting wills, establishing living trusts, advising on powers of attorney and can even serve as an executor or administrator if needed. Probate lawyers are also sometimes referred to as estate or trust lawyers or probate attorneys. Handling an estate and going through probate can be a complicated, emotional, and overwhelming process for many people. Probate lawyers provide expert counsel to help make the process go smoother and to ensure that the estate is handled correctly and in accordance with the known will of the decedent. Probate lawyers can advise powers of attorney on a variety of issues including.

• Management of life insurance proceeds
• Property appraisals and valuations
• Locating and securing decedents assets
• Giving counsel on how to settle the decedent’s debts and bills
• Prepare and file needed legal documents for probate court
• Manage the account of the estate
• Determine if any estate taxes are owed
• Settling Disputes between executors and beneficiaries
• Retitling the decedent’s real estate into the names of the estate beneficiaries if the property is not being sold
• Making appropriate elections on retirement plans, including IRAs 401(k)s

When do I need a probate lawyer?

A probate attorney can be helpful for any matter concerning the probate court system. Every state is different, some states assign probate duties to the trial court and some have their own separate probate court that is used exclusively for probate matters. If you are an executor of a will or have the power of attorney than a probate lawyer may be very useful to you in navigating the complicated issues surrounding handling the assets of the estate.

Ways A Probate Lawyer Can Help You

A probate lawyer takes a personal representative through the entire probate process from start to finish. The process will differ depending on whether the decedent died without a will and testament. We will talk more about both of those differences in a moment. Sometimes if there is a conflict between the beneficiary and the representative of the estate or if they are unfamiliar with each other a probate lawyer may also be hired to give counsel to the beneficiary of an estate. Some probate lawyers specialize in challenges to the decedents’ last will and testament through a will contest. They may represent either beneficiaries or representatives in separate legal suites regarding the estate. Probate lawyers that specialize in these matters are commonly referred to as probate litigators or estate and trust litigators.

Handling An Estate Without A Will

When a person dies without leaving a will and testament it is referred to as dying intestate. When a person dies and leaves a will it is called testate. Handling the final affairs of an estate without a will is called intestate succession. The lack of a will and testament to dictate the final affairs of an estate can create confusion regarding what state laws dictates should happen to the estate’s assets. Not all estate assets are passed by a will, many cannot be including.

Life Insurance Proceeds
Property Held In A Living Trust
Funds in a 401(k), IRA, or a retirement fund for which a beneficiary was named
Funds in a payable-on-death (POD) bank account
Stocks or securities held in a transfer-on-death (TOD) account

Who inherits these types of property will be determined by the documents stating the beneficiary designation or co-ownership.

Handling the affairs of an estate without a will (intestate succession) will be determined according to each state’s probate laws. Typically there are classes of heirs which will determine the order and way that the assets of the estate are distributed. Surviving spouses, children, parents and blood relatives are the most common and obvious class of heirs. In most cases, distant relatives will only take assets if there are no surviving spouse or children. In the case of there being no surviving family members most of the time, all of the assets will go to the state. Friends and charities do not receive anything typically in intestate succession.

When there is no will, the probate court will typically appoint a person to manage the probate process. This is typically done by appointing an individual as a personal representative of the estate. The personal representative of the estate is also called an administrator. The administrator has the same responsibilities as an executor named in a will and has to determine the value of the estate, pay debts and taxes and handle other expenses and issues.

A probate lawyer advises the personal representative of the estate or manages things on their behalf. A probate lawyer helps to make the probate process run smoother, advise the representative on the best way to handle issues, and help resolve conflicts that may arise between the representative and other individuals involved in the matters of the estate.

Handling An Estate With A Will

When there is a will for the decedent it is called testate succession. A probate lawyer will help evaluate the will and testament and other official documents of the estate and advise the executor on decisions regarding the probate process.

If the will and testament are contested the probate attorney can help represent the executor and defend the will if needed. The executor of the estate can rely on a probate attorney to advise them in all matters regarding the affairs of the estate. A probate lawyer may determine taxes or debts that are owed, help to coordinate the sale of property assets, or manage the estate checkbook and expenses.

Estate Planning

You may have heard the saying, “An ounce of prevention is worth a pound of cure”, or, “failing to plan is planning to fail.” These may be old cliches, but they ring true nonetheless. It is vital and wise for every person to look ahead and set their affairs in order for what happens after they die. Estate planning can be an overwhelming issue to think about. Not only does it require facing one’s mortality, but it also requires thinking in a systematic and methodical way about the issues and questions that may arise after death that will need to be addressed in an estate plan.

A probate lawyer helps you to plan ahead in a way that helps your wishes to be carried out for your estate and affairs so that you can avoid leaving confusing issues for your loved ones. A probate attorney helps you write a will and testament and think through the affairs of your estate in a methodical and organized way.

Hiring a probate lawyer to help you plan your estate and write your will and testament is a great way to apply ancient wisdom and principles to your life.

“A wise man looks ahead.” -Proverbs 13:16

“Plans fail for lack of counsel, but with many advisers, they succeed.” – Proverbs 15:22

A probate lawyer serves as a counselor helping you look ahead into the future and create a plan for success.

When do I need to hire a probate lawyer?

If you have been named the executor of a will it is a wise idea to consult the advice of a probate lawyer to make sure that you are prepared to handle the affairs of the estate properly. You may also need to hire a probate lawyer if you are a beneficiary of a will in conflict with the executor on how the estate should be handled and need estate litigation. Lastly, if you have not yet written a will and testament for your own affairs you may wish to consider talking to a probate lawyer on how to plan for your future.

Do I need to hire a probate lawyer if there is no will?

Even in the case of there not being a will for the estate a probate lawyer can assist the personal representative of the estate deal with the affairs of the estate and carry out the probate process.

The post What Does A Probate Lawyer Do? | Gary Crews first appeared on Gary Crews | Tulsa Probate Attorney.

Choosing The Best Probate Lawyer in Tulsa

Dealing with the execution of a will or handling an estate after the passing of a loved one can be a complicated and stressful process. You need expert guidance to sort through complicated legal issues. Gary Crew is a probate lawyer in Tulsa that you can trust every step of the way through the process.

What is probate law?

Probate involves the process of an individual arranging for the transfer of their assets after their death. It can often become a complicated process as you are forced to deal with tax laws, real estate laws, probate laws, IRS laws, and frustrating inheritance issues. Family member’s emotions can run high in these moments as well.

So how do you decide if you should try to deal with these complicated legal issues yourself or bring in help from a professional?

You could try to tackle these difficult problems alone or you could work with an experienced law firm that is dedicated to making sure every detail is taken care of.

You want to know that you are working with someone experienced and knowledgeable in their field. You want to work with someone who will take the time to listen and understand the situation. You want someone that will work tirelessly to make sure that every detail is taken care of correctly.

In most situations, people are better off working with a professional when it comes to probate law scenarios. If you decide that you need help with your probate law situation it’s important to use someone that you can trust that has the experience and a good track record.

You could just get any probate lawyer in Tulsa but why not get the best?
Why not use someone that you know that you can trust and that has your best interests in mind?

Gary Crews is an experienced probate lawyer in Tulsa that helps serve as your guide through all of these complicated issues.

Gary Crews has been a probate lawyer in Tulsa for almost 20 years and his experience and acumen have earned him recognition as one of the most trusted local lawyers in the area for both legal ability and ethical standards.

Gary Crews diverse range of experience, as not just a probate lawyer in Tulsa, but also as a legal expert in many other areas including estate planning, business law, oil and gas law, and personal injury give him a well-rounded range of experience to utilize for the benefit of his clients.

You could choose just any probate lawyer in Tulsa but you shouldn’t settle for just anybody on important matters like probate law.

Perhaps the greatest tragedy of probate law when it is not done correctly, is that the wishes of someone you love are not carried out the way they wished after they pass.

That is far too important to risk on someone inexperienced or unprofessional.
Choose a probate lawyer in Tulsa that you know will work hard for you and that has the experience and background that you can trust.

The post Probate Lawyer In Tulsa first appeared on Gary Crews | Tulsa Probate Attorney.

Business attorneys do far more than simply join you in court if the need ever arises. They are available to help you negotiate the best terms for your business in regards to everyday business decisions such as purchasing, leasing, and staff contracts. Having a strong relationship with your business attorney is fundamental to the growth of your business. 

Here at Gary Crews Law, we are here to protect your business and guide you through the maze of legal issues. As technology changes the way business operates, we have taken pride in our ability to adapt through strategic relationships with companies that understand the potential issues that business owners may face online. That is why we have enlisted the help from a local media company, McWilliams Media. Our inbox is loaded with emails that promise to “get us to the top of Google.” McWilliams Media just touched on how to protect yourself from the online spam you get in your inboxes. They laid out a few simple steps to recognize spam:

• Unsolicited emails and/or comments left on your website
• Consider the email address
• Research their company
• Requesting private information too soon.

To see the full article, click HERE

When it comes to protecting your business, we are here to help and point you in the right direction for a bright future in your business venues.

You don’t have to be in it alone. Contact us today to schedule a FREE consultation.

Contact Information:

Email: gcrews@att.net

Phone: (918) 493-3360

Fax: (918) 493-2203

The post Business Owners- Are You Protected? first appeared on Gary Crews | Tulsa Probate Attorney.