For some readers of this Oklahoma estate planning and probate blog, reviewing one's personal estate administration plan is a regular occurrence. Some people look over their end-of-life and estate plan arrangements regularly in order to make sure that they change with the creator's wants and needs. Conversely, however, some people never look over their estate plans, either because they choose not to or because they have never gotten around to making plans in the first place.
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At some point, perhaps the majority of Oklahoma residents decide they want to leave behind whatever they cannot take with them when they die. This is when the topic of how to write wills most frequently comes up. Even though the intention is obvious -- to provide for one's loved ones -- what a will actually does and does not do is often mysterious. The following may provide helpful information.
As most people age and experience health problems, they begin to wonder about the circumstances in which they might become incapacitated and unable to make decisions for themselves. Recognizing this possibility, Oklahoma's lawmakers decided to enable residents to establish legal documents that set out a person's care desires and wishes. Two written documents are of particular interest -- advanced directives for health care and living wills. So how do these documents work?
Whenever Oklahomans create wills or trusts, they may not think much about what happens once they die. They generally assume the provisions of their documents will generally distribute their properties and assets as they intended. In the vast majority of cases, this is what happens. Sometimes, though, the executors or administrators of wills or trusts fail to perform their duties as stipulated in these documents and as required by law.