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.

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.