Writing Your Tulsa Estate Planning Blog

We are excited to be located at the fantastic Riverpark Building. This building has a long history in Tulsa. Less than four years ago it looked completely different and it was an abandoned diner! After bringing in a renowned architect and a lot of construction, the Riverpark is a modern jewel on the edge of downtown Tulsa.

It is great for our clients because it is conveniently located near Riverside Drive, the Broken Arrow Expressway and Highway 75. Unlike other downtown locations, there is always free parking ten feet from the front door.

I’ve been interviewing clients, trying to improve my practice as a Tulsa estate planning attorney, and I’ve identified the top three reasons why most of my clients seek my estate planning services.

Avoid Probate
Oklahoma Probate is a long, expensive and tedious process. It can take a year or more to fully probate even a minimal estate. There are attorney’s fees, filing fees, fees for notice and copy fees, just to name a few. Probate generally costs 6% to 8% of the total value of the estate. It is expensive because it is a complex procedure that requires the help of a knowledgeable attorney.

Minimize Estate Taxes
Nobody likes to pay taxes. Estate taxes, or death taxes, as they are frequently called, are the most unpopular of all taxes. It is no wonder that clients want to avoid them.

Protect Family
When a loved one is lost without a plan it complicates an already stressful time. Family members are forced to make important decisions without proper direction. Often those decisions involve money, and we know how that can make people act self-interested. Clients know this and want to help their family avoid this potential chaos.

If you would like to talk to an attorney at our firm to discuss your family’s legacy estate plan, mention this blog and your initial hour consultation will be at no-cost. Call 918-200-9094 and let us help you avoid probate, minimize estate taxes, and give you family the plan it deserves.

After a few weeks the new office is officially set up. There are a few needs here and there, but for the most part we are cruising. Pictures will follow.

The office of the Your Tulsa Estate Planning Law Firm moved into new offices. Well, we haven’t moved in yet, but the lease is inked. We’re excited to have the space to serve our clients exceptionally.

We’ll be located at the Riverpark Building at 1874 S. Boulder Tulsa, OK. 74119.

We are super excited to move into a state of the art facility. At RTY LAW we are focused on utilizing technology to enhance our ability to solve our client’s legal problems. The Riverpark building is fully wired for ultra high-speed internet and voip phones. All with modern design! Pictures to follow.

Today I’m attending a seminar at the Tulsa County Bar Association organized by Jim Calloway the Oklahoma Bar’s practice management guru.

This has been a day well spent learning how to organize and optimize my firm’s processes and procedures. It is all about serving clients well.

If your attorney isn’t returning your calls within one business day, if you attorney doesn’t send you a copy of all relevant correspondence, if your attorney doesn’t quote you a reasonable rate upfront for services provide, your attorney isn’t an efficient attorney.

1. Develop a warm, and confidential relationship with an attorney.

2. Collect and deliver family and financial information to your attorney. Remember, it will always be held confidentially. Good attorneys will work with your financial planner and accountant to help locate and obtain information. Family information is perhaps the most important part of an estate plan. Your attorney will need to know not only your family tree, but also what are the relationships like, what concerns do you have, and whether there are any special needs. A good attorney will offer a no obligation consultation to talk to you about this information and determine if you need an estate plan.

3. Think about your transfer objectives. This is can be difficult, because you need to think about what will happen after your death. Who will get what and under what terms? Do you what to minimize taxes at all costs? Do you want to help your family avoid probate? You may what to consider trusts that pay out over time, or you may want you heirs to get your estate immediately. There are many issues to discuss, and your attorney should walk you through all of them.

4. Retain an Oklahoma attorney to draft your estate planning documents. A good attorney can tell you exactly what this will cost before the work starts.

I was having a conversation with a client who is a dentist. We were discussing how people who work jobs that are high risk for lawsuits, like dentistry, should have an estate plan strategy that seeks to shield assets. I wasn’t surprised when he told me how many of his colleagues procrastinate on this. They know they need to do it, but they think that for the time being mal-practice insurance will be enough.

We were talking about how easy it is to put things like that off, things you know you need to do, but aren’t “fun”. Then he said something that is so true: if you let too many of those things pile up, it is hard to have fun, because you are so worried about the things you need to do. So, so true.

I had a great conversation with a new friend and financial planner today. We were discussing the reasons why estate planning is important: to guide wealth transfer, protect assets, minimize taxation, avoid probate and others. Then we hit on what may be the most important emotional reason…to avoid family turmoil in an already stressful time. We reflected on how so many Tulsa families think they will be able to work everything out without a plan. Sure, some will be just fine, but why risk exposing your family to conflict? Why not get it all planned out, avoid the cost of probate, and make sure your family stays whole?

Grandparents did you know that a Tulsa estate planning attorney can set up your estate to pay for all or part of your grandkid’s education? What a great legacy to leave!

We are excited to write about Tulsa estate planning topics. Check back daily for updates on relevant tax and legal matters that can affect the estate you’ve worked so hard to build.