August is recognized nationwide as Make-A-Will Month—a perfect time to take a serious look at your estate planning.
Whether you’re young or old, wealthy or not, married or single, one thing is certain: you need a plan in place for what happens when you’re gone, especially if you own “real property” or have more than $50,000 in savings or other assets.
Why a Will Matters in Oklahoma
A will is the most basic estate planning document. It lets you:
- Name who inherits your property
- Choose a guardian for your minor children
- Appoint someone to handle your estate (your “executor”)
Without a will, Oklahoma’s law says a court will decide who gets your assets, which could lead to an outcome you wouldn’t have chosen.
But, even if you do have a will, it’s important to understand one critical fact: in Oklahoma, a will must go through probate.
What Is Probate and Why Should You Care?
Probate is the legal process of validating a will and distributing a deceased person’s assets. This is done through a court process. In Oklahoma, probate can be:
- Time-consuming (lasting months or in some cases years, especially if there is disagreement among family members)
- Expensive (due to court fees, attorney fees, and other costs)
- Public (the proceedings are public record. Anyone can see your file, including what you owned and who inherited it)
So while having a will is far better than having nothing at all, it doesn’t keep your family out of probate, and it might not offer the level of privacy or control many families want.
A Better Option: A Revocable Living Trust
If you’re looking for a more complete and efficient estate planning solution, a Revocable Living Trust is what we typically recommend to our clients.
With a properly funded trust, your assets can pass directly to your beneficiaries without going through probate. This means:
- Faster distribution
- Lower long-term costs
- More privacy and control
A trust also allows you to plan for incapacity, protect minor children, and help ensure smooth management of your assets if something happens to you.
If you already have a plan in place, that’s great. However, it’s important to remember that life changes, such as marriage, divorce, new children, new property, etc, can make old plans obsolete. If your documents haven’t been reviewed in the last 3-5 years, now’s the time.
Estate planning doesn’t have to be overwhelming, and you don’t have to figure it out on your own. We’re here to help Oklahomans understand their options and make smart, informed decisions about the future.
Don’t put it off any longer.
Ready to get your plan in place? Curious about what to do next? We are here to help. Book your FREE 15-minute Discovery Call with our team to get your questions answered or to get the process started. Click the button below to reach us or call our office at 405-759-0678.