One of the most asked questions we get as Estate Planning Attorneys is what is a Will? And after that, why do you need a Will? A Last Will and Testament, or Will for short, is a legal document you create and sign while you are living. This document sets out who will be the Executor of your Estate when it is probated. Also, it sets out who you would like to receive your property when you pass away. And finally, if you have minor children, your Will can name their guardian.
Anyone over 18 can make a Will, which is the foundation of most Estate Plans. If you don’t make a Will and pass away, it is called being “intestate.” Additionally, if a person passes away intestate, the State of Oklahoma will decide who gets their property. The intestate statute is found at 84 O. S. §213. In our experience, this state statute seldom gives the property away the same way as a person would have decided in their Will. For example, many people think their surviving spouse will get all their property. This is often not the result at all. Therefore, if you want to be sure your property goes to the people you want, you must make a Will.
If you would like to receive legal advice regarding Probate, Wills, Trusts, or Estate planning in any form, feel free to contact the Attorneys at Hartsfield & Egbert, PLLC, at (405) 285-6858, or visit our website and schedule a consultation.