At Morgan and Morgan, PC, we have been providing all aspects of Estate Planning for our clientele for over 35 years in the State of Oklahoma, which includes, but is not limited to the following:
Last Will and Testament
Everyone needs a Will. If you have property or might inherit property, or have minor children, a Last Will and Testament is one of the most important and powerful documents you could ever execute. It is prepared and signed during lifetime to take effect after death. By a Will, the maker or the testator can name who will receive the Estate’s property, oversee the Estate, and be a Guardian of the testator’s minor children after death. A Will must be probated to distribute testator’s property. A probate is a legal action whereby the District Court admits the Will, appoints the personal representative named in the Will, and causes the creditors to be paid and orders distribution to those entitled, pursuant to the terms of the Last Will and Testament. If a person dies without having a Will, the law creates a Will for the decedent through the Law of Intestate Succession, also known as the Law of Descent and Distribution. Such a law may cause people to inherit property of the Decedent that was not intended. Consequently, a Will is needed to name the proper people or entities the Decedent wants to receive the property. Morgan and Morgan, PC can help you with your needs, and if necessary, your family to probate your Estate quickly, efficiently and professionally.
A Living Trust is a document that is executed during lifetime to take effect during lifetime. The Trust does not die or end until the terms of the Trust so dictate. Thus, a Trust can continue to exist after the death of the maker. It provides for the maker and the maker’s beneficiaries during the lifetime of the maker and for those beneficiaries so named after the maker’s death. Among other things, a trust can provide privacy, save Estate Tax, protect your assets, provide for your loved ones who have special needs, make distribution quicker than by Will, and can eliminate the need for Probate (Court supervision).
Durable Power of Attorney
A Durable Power of Attorney is a legal document executed by the maker, naming another to act in the maker’s behalf during the maker’s lifetime, and during any incompetencies of the maker, to the extent provided in the document, including the making of medical decisions if properly drafted, but excluding living will provisions and the naming of health care proxies. Living Wills and the naming of a health care proxy are allowed pursuant to statute in Oklahoma, through an Advance Directive for Health Care Purposes.
For more information about Estate Planning, and how Morgan and Morgan, PC can benefit you for your Trust needs, your Last Will and Testament, your Durable Power of Attorney, your Advance Directive for Health Care Purposes, etc., please contact Larry A. Morgan.