When you are creating your estate plan, the thought about how your heirs will handle their inheritance after you are gone has probably come to mind. While it is easy to fall into the trap of thinking that it is their business about how they spend money or deal with assets after you are gone, it is something that is worth talking about when you discuss your will. Oklahoma residents might like to know about some of the common mistakes heirs make so they can discuss them with those named in the will.
Many changes come with marriage. You share a home, share finances, and work together to create the life you want. There is another change that comes with marriage that most people probably don't think about. Oklahoma residents who are getting married or have recently gotten married should know that updating your estate plan or making an estate plan is a vital step for ensuring your family would be able to survive if something happens to you.
Estate planning is sometimes a private process that enables a person to make end-of-life decisions and other choices about assets. During the process, the person who is planning the estate has to decide which family members or friends should know about the estate plan. For some, this is an unpleasant experience, but talking about the estate plan enables those around you to get questions answered about your wishes. It also gives your loved ones an idea of what will happen when you pass away. Oklahoma readers might like to know about how lack of communication can sometimes harm those you are leaving behind.
Making an estate plan isn't something that can be done one time and then left alone. Readers of this blog have probably read about the need to update an estate plan periodically. While there isn't any hard and fast rule about when an estate plan should be updated, there are some basic guidelines to consider that might interest Oklahoma residents.