If you’re thinking about planning for the future and ensuring that your wishes are carried out after your death, making a will is a smart step. In Oklahoma, creating a will gives you control over how your assets are distributed to family members, friends, or charities. This document is crucial because it specifies who receives what from your estate, and it can also name guardians for your children if they are minors. While it can seem like a complex process, it can help your family later on.

Starting the Process

To begin the process, gather a list of your assets. These might include real estate, vehicles, jewelry, bank accounts, and investments. Also, think about whom you want to inherit each of these items. This can be a sensitive process, so take your time to consider your relationships and how you would like your belongings distributed. After you decide who you want to receive each item, you can continue on with the process of will creation.

Legal Requirements to Make a Will in Oklahoma

For your will to be valid in Oklahoma, you must meet specific requirements. First, you must be at least 18 years old and mentally competent at the time you make your will. You must have a written will, as the state doesn’t usually recognize oral wills. As the maker of the will, you must sign it. The will must also include witnesses of at least two people who are over 18 years old and who are not beneficiaries. These witnesses must watch you sign the will and then sign it themselves in your presence.

Choosing an Executor

An executor is the person who will manage your estate after you pass away. This role involves tasks like paying off debts, handling your taxes, and distributing your assets as you stated in your will. Choose someone who is responsible and capable of managing these duties, especially during such a difficult time. The executor can be a family member, a trusted friend, or even a financial advisor.

Naming Guardians

If you have children under 18, it’s critical to name a guardian in your will. This person will take care of your children if something happens to you. When choosing a guardian, consider their relationship with your children, their values, and their ability to provide a stable home. Some potential guardians include aunts and uncles, grandparents, and close family friends. If they’re old enough to understand the situation, consider including the child’s input into your decision.

Be Specific in Your Wishes

Clarity is key when it comes to making a will. Be as clear as possible about who gets what, especially if you want to make sure a person receives an item. You can specify items down to the smallest details, like who gets your books or your music collection. Although it takes longer during the initial planning process and may seem insignificant on certain items, this specificity helps prevent disputes among your loved ones later.

Safeguarding Your Will

After completing your will and having it signed, and witnessed, it’s important to put it in a safe place. A fireproof safe in your home or a safety deposit box at a bank are good options. Let your executor know where your will is so they can access it when the time comes. However, the location where you store your will should still be accessible in case you need to make any updates to it later on.

Updating Your Will

Life changes such as marriage, divorce, births, and deaths can affect your will. Review your will periodically and make updates as needed. To make a change, you can either make a new will or add an amendment to your existing will, known as a codicil. Like the original will, a codicil must be written, signed, and witnessed according to the same rules. After making any necessary changes, return the will back to its safe location.

However, if you die without a will, known as dying intestate, Oklahoma law dictates what will happen to your assets. Typically, your closest relatives, such as your spouse and children, will inherit your assets. However, this might not align with your wishes, and it can lead to long, stressful legal battles for your loved ones.

Tulsa Estate Planning Attorney

Making a will is a fundamental part of estate planning and gives you peace of mind knowing your wishes will be honored. By taking the time to create and maintain a will, you ensure that the process will be easier on your family in the future. A probate lawyer can help ensure your will meets all legal standards and truly reflects your wishes. For meaningful legal advice, contact Tulsa County Lawyers Group by calling (918) 379-4864 or contacting us online for a consultation today.