I have had several Tulsa, Oklahoma clients ask if they really need an estate plan. They mistakingly believe that estate planning is only for the wealthy. They think since they don’t have a huge estate, they don’t need to plan. That is not true.
In Oklahoma you have an estate plan whether you know it or not! If you die without a plan, the state effectively creates one for you. If you have a house, a car, maybe some cash in the bank, and even furniture and appliances, you have an estate. And, if you die without a plan, Oklahoma decides what to do with it.
People with small estates frequently avoid planning. The sad thing is that people with small or modest estates often are those who need planning the most, because their loved ones need proper care for survival.
There are rare cases when you want to distribute your property exactly as the State would and your estate is small enough to avoid probate. You need to talk to an attorney to determine if you fall into this category. Mention this post and your estate planning attorney will give you a free initial consultation.
