Without a will, you’re SOL! To put it simply, a will is like having Superman as your deathbed protector. The will is more powerful than anything else, and gives you the ability to decide what you want. Without a will, you’re leaving a lot of decisions to fate.
Oklahoma has specific statutes regarding the distribution of your property upon your death. Some may be favorable, but in general, most never quite execute themselves like you want.
In California, we’re seeing a great example of some of the problems associated with poor estate planning. Surprisingly, the death of Michael Jackson (see a copy of MJ’s will), is reiterating why you need a will, and more importantly, why you need to let a lot of people know you have a will.
The will allows you to direct the distribution of your assets and the care of your children. It’s tragic when one’s poor planning causes such commotion and turmoil.
I recently met with a couple who were looking to dispute statutory provisions because their deceased relative desired something different. The relative never signed a will or other testamentary document, but rather made several expressions and desires regarding her wishes. The couple wondered whether a cherished piece of land could be recovered from an uncherished relative. Sadly, I advised that the likelihood was slim and the cost to attempt the change was great. The couple left my office discourage and wondered whether "the law" had failed them.
Quite simply, the law had not. The relative’s disinterest in properly allocating her property caused the commotion. The properly executed will can prevent any hardship and arguments regarding the distribution of property.
If you’re interested in a full estate review, please contact our office: (405) 748-0318.
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