You need a will in order to ensure that your estate is disposed of in the manner you wish; and to spare your family from the emotional and financial expense involved in making these decisions while grieving your death. It is perfectly legal to draft a will on your own in Oklahoma; however, there are a number of situations where hiring an experienced estate planning attorney is advisable.
The only legal requirements to drafting a will in Oklahoma are 1) that you sign it in front of two witnesses, and 2) that your witnesses also sign the document.
There are numerous readily-available software templates that you can use to draft a valid will on your own. However, there are also numerous situations where you should consider hiring an estate planning attorney to help prepare your will:
1. If you plan to leave behind property and assets in excess of 2 million dollars, you should be concerned about estate tax. It would be wise to consult with an experienced estate planning attorney to assist you in minimizing the amount of tax payable by your estate.
2. If you are a co-owner of a business and you are concerned about how your share of the business will be distributed, you should consult with an attorney to help you specify how your business interest is to be transferred after your death.
3. If you are married and have children from a previous relationship, you should consult with an estate planning attorney to assist you in providing for both your current spouse and your children from the previous relationship.
4. If you want to prevent others from contesting your will by claiming that it was drafted when you were mentally incapacitated or under duress, you can give your lawyer power of attorney to make decisions on your behalf in case you are unable to make them for yourself.
5. If you wish to disinherit your spouse, who by law is entitled to everything you owned jointly and a minimum of 1/3 of everything else, you should consult with an experienced estate planning attorney to explore the possibility of leaving him or her less than the minimum required by law.
Conclusion
While it is possible to draft a will on your own in Oklahoma, it is not always in your best interest to do so. There are certain circumstances where you will need the expertise of an experienced estate planning attorney to assist you in drafting a will that disposes of your estate in the manner in which you would like it to be done.
Low-cost Consultation: Claremore Estate Planning Attorney
When there’s so much at stake, it’s crucial that you discover all your options when it comes to planning your estate. Speak with a skilled Claremore attorney at Wirth Law Office – Claremore. For ainitial strategy session with an able Claremore estate planning attorney, call (918) 213-0950 today. If you prefer e-mail, submit your question by using the form at the right side of this page, and one of our attorneys will contact you promptly.
