We were recently contacted by a Successor Trustee looking to obtain access to the client’s digital property and accounts. Unfortunately, there was no digital asset provision in place before the passing of the client. Due to this issue, a variety of social media accounts were unable to be accessed, even when contact was made with the social media corporations. This meant that all social media content was to be locked live on the internet and items such as photos, music, social media accounts were unable to be altered, accessed, or even deleted after the passing of our client.

This illustrates the importance of incorporating such planning into a comprehensive estate plan.  Expecting a client to create and maintain an up-to-date roster of their digital property along with usernames and passwords is uncommon.

In order to avoid such issues as mentioned in the story above, we began incorporating digital asset language into our estate plans in 2016.  If your estate plan was drafted earlier than 2016 or if you are looking to create an estate plan for the first time, you might want to include this type of language to protect your digital assets.

Contact us in order to verify if your digital assets are protected. If not, we will work hard to create an amendment and make sure you are properly covered!

The post The Importance of Digital Asset Provisions first appeared on Gary Crews | Tulsa Probate Attorney.

Estate planning isn’t solely for young adults with children, but for everyone. There are things to consider such as: who I would like my home to go to and other assets as well. There is also the need to consider how you would like your life to be managed if you were unable to cognitively make decisions. 

Here are 3 of the top reasons we believe young adults should reevaluate their relationship with estate planning:

1. What do you want to happen to your assets?

Young adults these days are having to work incredibly hard to create financial stability and succeed in the workforce. Buying a car, buying a home, having savings, and paying off debts are all things that they are working hard to accomplish. Let’s imagine that you have begun to chip away at those goals and now own a car, a home, and have a nice 401(k) plan at work. It is important that you do not let these items go when you pass.

It is important to remember that the loss of a family member and close friend is devastating and unfortunately, not something that’s an enjoyable discussion. It’s not fun to prepare for death, but it is only reasonable to ensure your hard work will have not been done in vain, but it is also important to protect the ones you love most from having to deal with any additional stress during a time of crisis.

2. How would you like your life to be managed if you were incapacitated?

The goal of estate planning is not to focus on the possibilities of death or focus on the negative aspects of life. The ultimate goal in estate planning is for your dreams to be known and fulfilled, while also protecting the ones you love. Such occasions could look like life-support, organ donation, etc. This is why it is important to consider how you would like your life to be managed if a disaster was to happen.

3. What kind of desire do you have for your passing?

One of the least discussed aspects of estate planning involves discussing the way in which you want your possessions to be managed at the end of your life. The decisions surrounding funerals, cremation, and more are large stresses for family and friends after losing someone dear to them. This is a fantastic opportunity to make the difficult decisions ahead of time in order to provide support to your loved ones during a difficult time.

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Estate planning is an opportunity for you to control your future and ensure that your wishes are fulfilled. It is also an opportunity to show your loved ones how important they were to you. Planning for these occasions is a powerful way to demonstrate love for those around you, but most importantly for yourself.  

Speaking with a professional Estate Planner like Gary W. Crews can alleviate any stress you may have surrounding estate planning. It doesn’t have to be daunting, and our team is here to ensure you of that.

We are here for YOU!

The post Why Millennials Without Children Should Consider Estate Planning first appeared on Gary Crews | Tulsa Probate Attorney.

There are things in life that simply need to get done, but we often resist to actually do them. It’s not that we question the importance of these tasks, we just keep…putting them off. Everyone procrastinates at some point or another, even when the task is one that can’t be avoided, with negative consequences for failing to complete it, such as filing taxes or getting an oil change for your car. Another task that many people frequently avoid or put off, although they shouldn’t, is creating an estate plan.

Everybody understands the importance of an estate plan; why do so many people procrastinate? There are multiple reasons, but they tend to fall into a few main categories. The first reason is the lack of a deadline. Many people are driven by deadlines and, unlike income taxes, estate planning doesn’t have a set time or “due-date” for which it is to be completed. This makes it very easy for people to put off their estate plan, especially when there are multiple other things that need to get done by the next day. People with this mindset of continually pushing back their estate plan eventually run out of days before they ever sit down with a lawyer to secure their family’s future.

One other reason that many people procrastinate on creating their estate plan is that they simply don’t know what to do, and this leads to inaction. Do you need a will or a trust, or both? If a trust, what kind? And how do I choose the right lawyer to help? There are many questions to be asked and  answered and although it seems to be easier to figure it all out later, “later” often turns into “too late.”

Often times getting started is the hardest part. We want to help you with that. In the book, Atomic Habits, it lays out simple ways to start knocking out those big tasks. It suggests taking small chunks of the project at hand to eliminate the overwhelming feeling of not being able to get a long list of things done. Your first step in getting started with your estate plan or creating a will is simpling picking up the phone and giving us a call. We can help you get started with the little things you need to begin to tackle those easy-to-put-off tasks.

At Gary Crews Law in Tulsa, OK, we specialize in all aspects of estate and end-of-life planning.  Call  (918) 493-3360 today for your free consultation with one of our friendly, professional staff, We are here to help!

The post Procrastinating on your Estate Plan? first appeared on Gary Crews | Tulsa Probate Attorney.

As people age, their needs and abilities change.  Adult children of aging parents may notice that mom or dad is having difficulty with their finances, driving or personal hygiene.  We all want to support our older loved one’s desire to live independently, even when we have concerns about their safety.  But how do we know when it’s time to step in?

Assessment is a full review of a person’s mental, physical, environmental and financial condition to determine their ability to remain safely independent.  It identifies risks and helps determine options to reduce them.

Physical Health

Have they been diagnosed with any chronic diseases such as diabetes, high blood pressure, arthritis, emphysema, bladder problems, heart disease, stroke or cancer?  Do they have vision problems, excessive weight issues or difficulty walking?

Mental Health

Have they been diagnosed with any mental health disorder such as depression, anxiety, psychosis, Alzheimer’s or other forms of dementia?  Do they show signs of confusion, memory loss, disorientation or isolation, mood swings, sadness, loneliness?

Medications

What medications are they currently using and what is the dosage?

Daily Living Skills

Are they able to dress, bathe, use the toilet, climb the stairs, use the phone, prepare meals, do housework, yard work, and drive safely?

Safety

Do they have smoke alarms and fire alarms and can they dial 9-1-1?

Finances

Can they live on their current income and will they be able to meet future needs?  Do they pay their bills on time?  Do they make impulsive purchases?  Do they have a Will, Living Trust, Power of Attorney, Living Will?

Assessment

Assessment can help lead to problem-solving and allowing the parent to remain independent longer.  It will also result in fewer accidents and illnesses and provide a higher quality of life.  Learning to assess their needs will make it easier to know when and how to offer help. Addressing items such as estate planning or a power of attorney can make things simpler in the future.

Let Us Help You

At Gary Crews Law in Tulsa, Oklahoma, we focus on helping you make the best decisions. Whether it’s preparing for elder care, estate planning, or other legal help, we are here for you. Call (918) 493-3360 today for your free consultation with our friendly, professional staff. We are here to help!

The post How Do I Know When My Parents Need Help? first appeared on Gary Crews | Tulsa Probate Attorney.

…and her estimated $80 million estate could be in jeopardy.

Deeply private in life, Aretha Franklin’s estate will be laid bare for all to see, as according to court documents, she died without having a will or trust in place.

Legal Documents

Documents filed by her four sons in Oakland County Probate Court on Tuesday acknowledged the absence of a Last Will & Testament and named themselves as parties interested in her estate. The relevant clause reads: “The decedent died intestate and after exercising reasonable diligence, I am unaware of any unrevoked testamentary instrument relating to property located in this state….” Additionally, Franklin’s niece, Sabrina Owens, asked to be appointed as the estate’s personal representative, which could result in some protracted litigation in the probate court.

Lack of Wealth Transfer Planning

Even if the family is on the same page, Franklin’s assets (the exact net worth is unknown, but it’s estimated at roughly $80 million and includes the rights to a number of her hit songs) pass through intestacy. That being said, the complete lack of wealth transfer planning on Franklin’s part will likely result in Uncle Sam taking a huge tax bite out of that figure.

In an interview with the Detroit Free Press, Franklin’s long-time entertainment lawyer Don Wilson doesn’t paint a particularly optimistic picture. “I was after her for a number of years to do a Trust,” he said. “It would have expedited things and kept them out of probate and kept things private.” Wilson continued, noting, “I just hope [Franklin’s estate] doesn’t end up getting so hotly contested. Any time they don’t leave a trust or will, there always ends up being a fight.“

The Time to Act is Now

Whether Wilson’s fears come to pass remains to be seen; however, what is certain is that Franklin should have followed her own advice and taken some time to think—think about what your trust will be about… the time to act is now…. Before it’s too late.

Image Copyright: <a href=’https://www.123rf.com/profile_americanspirit’>americanspirit / 123RF Stock Photo</a>

The post Aretha Franklin’s 80 Million Dollar Estate May Be in Jeopardy first appeared on Gary Crews | Tulsa Probate Attorney.

We completely understand: there’s nothing quite like mentioning your Last Will & Testament to kill whatever good vibes you might have for the day.  In a society currently focused on the immediate, it can be difficult to plan for next week—let alone the rest of your life. However, it would be far more difficult to go without a Will at all.

What happens then?

Your Last Will & Testament is an incredibly fancy term for your last wishes: it can cover everything from who you want to take care of your children to who gets your collection of fine china. If you don’t take time out to create a Will, your estate gets divided up by the rules of Intestate Succession (the settling of your debts, posthumously). So, if you don’t want your crazy uncle Elroy taking care of your kids, you definitely want to write a Will.

Before you can begin to stress about wading through legal jargon or taking inventory of your possessions, take a deep breath. An online poll revealed that nearly 60 percent of all Americans didn’t have a Will, so you’re definitely not alone. In addition to being part of the majority, you’re also in luck: we’ve compiled a list of reasons why you need a Will, and why there’s no need to worry about making it:

Its one of the most important documents of your adult life.

For obvious reasons, your Last Will & Testament is a pretty important document. Other important papers including your Living Will—which states your wishes in the event you become incapacitated—and your Durable Power of Attorney—which states which person you trust to handle your estate if you become incapacitated. While these documents may seem like the worst way to spend a Sunday afternoon, it’s also your last chance to declare your wishes.

It doesn’t take as long as you think.

To create a binding legal document that outlines how you want your estate to be handled doesn’t take a long time.  While that may seem unbelievable, most attorneys can provide an interview process that helps fill out the necessary paperwork.  Once your Will is written, you’re set for life—and you can change it as many times as you wish to adjust for your life changes.

It leaves no room for assumptions.

When you do make your way out of this world, your family is going to have plenty to deal with in funeral arrangements alone. Don’t just assume that they’ll step in to take care of your assets, or that they’ll have the time to sort through your belongings. By leaving a Will, you’re making sure that your wishes are carried out.

It keeps the state out of it.

With a few exceptions regarding debt and other legal matters, leaving a Will behind prevents the state from handing everything over to your closest family member. Especially for non-traditional families, a Will can protect them against the state handing everything over to blood relatives.

Now that you have a good basis of why a Last Will & Testament is so important, when should you start?

There’s no time like today.

While you may be in good health, a cautious driver, and excellent at avoiding dangerous situations, there’s no guarantees in life beyond death and taxes.  Although we can’t help as much with the taxes, we certainly know how to help you take care of your final celebration. Even in your 20s and 30s, you’re going through many major life changes—like marriages and children—that will certainly impact your Will.

Whether you’re 18 or 83, creating a Will is an important activity that should be completed quickly. This allows you plenty of time to make changes as your life changes, and ensures that your voice will be heard—long after it isn’t. For assistance crafting your own Last Will & Testament, contact us! We’d love to help you get your affairs in order.

The post When To Start Writing Your Will: There’s No Time Like the Present first appeared on Gary Crews | Tulsa Probate Attorney.