Estate Planning

Last Will and Testament: The Foundation

A Last Will and Testament is the primary document used to outline your final wishes. It serves as a legal roadmap for the court, identifying who should receive your assets and, perhaps most importantly, naming guardians for minor children. While a Will is a vital safety net, it’s important to understand that in Oklahoma, a Will alone does not avoid probate; instead, it provides the instructions the judge follows during that process.

For many families, a Will-based plan is an excellent, cost-effective solution. When combined with strategic “Non-Trust” tools—such as Transfer on Death Deeds for real estate or beneficiary designations for bank accounts—a Will can effectively move your major assets outside of the courtroom while keeping your plan simple and easy to manage during your lifetime.

Revocable Living Trust: The “Wagon” for Your Assets

Think of a Trust like a wagon designed to carry your assets smoothly past the delays and costs of probate. Unlike a Will, a Trust is a private contract that takes effect while you are living. It allows your family to maintain privacy, avoid the public record of the courthouse, and ensures a faster transition of assets to your heirs. It is particularly robust for larger families, blended families, or those with complex assets like Oklahoma mineral interests.

The key to a successful Trust is “funding”—the process of moving your assets into the wagon. For example, because mineral rights are real property in Oklahoma, they must be deeded into the Trust to be protected. A properly funded Trust ensures that if you “drop the handle” due to illness or passing, your Successor Trustee can step in immediately to keep the wagon moving without needing a judge’s permission.

Durable Power of Attorney: Protecting Your Daily Life

A Durable Power of Attorney is one of the most essential “life-care” documents you can own. It allows you to appoint a person you trust to manage your financial and legal affairs if you are ever unable to do so yourself. This includes practical tasks like paying bills, filing taxes, or managing property. Without this document, your family might be forced to petition the court for a guardianship—a process that is often public, expensive, and emotionally taxing.

By having a Power of Attorney in place, you ensure continuity for your household. It keeps your private business out of the courtroom and ensures that your chosen advocate has the legal authority to protect your interests the moment a crisis arises. This document is about maintaining stability and control during times of temporary or permanent incapacity.

Advance Directive for Healthcare: Your Voice in a Crisis

The Oklahoma Advance Directive combines what many know as a “Living Will” and a “Healthcare Proxy” into one clear document. It allows you to specify your wishes regarding life-sustaining treatment and end-of-life care, ensuring you aren’t kept alive indefinitely against your values. It also appoints a Healthcare Proxy—a person who can talk to your doctors and make medical decisions for you if you are unable to communicate.

In Oklahoma, your family does not automatically have the right to make these decisions for you, even if you are married. An Advance Directive gives your doctors the legal authority to follow your instructions and removes the heavy emotional burden of guesswork from your loved ones. It is a gift of clarity for your family, ensuring your medical care remains in the hands of those you trust most.