Often, people think that wills or estate planning are just for wealthy people. They envision massive estates and millions in assets, but that isn’t always the case. Whatever you own, even if you think it isn’t much, can be benefited from having a will. Without one, your property goes through probate intestate, giving you no control over who it goes to. For those who could get your property, it increases the costs and stress after you pass.
The experienced estate planning lawyers at Brune Law Firm know that every person deserves and could use a will. If you feel like you don’t own much, a simple will can still streamline the process and ensure your assets are protected. Do it for yourself and those you leave behind.
What a Will Does in Oklahoma
Your will sets forth your wishes and tells the court how your assets are distributed after you pass away. An Oklahoma will can let you:
- Pick who gets your property
- Name the person in charge of your will and estate
- Appoint guardians for your minor children
- Direct how personal items, sentimental belongings, or small assets should be handled
- Reduce confusion on how to deal with your assets
- Reduces conflict or delays in probate
Even if you feel like you don’t own much, your assets matter. If you own a home, retirement accounts, some bank accounts, or any other “normal” stuff most of us own, a will can make a big difference in how things are handled.
What Happens If You Die Without a Will?
Without a will, your assets are distributed according to Oklahoma’s intestacy laws. These are a set of default rules about who gets your stuff after you die if you don’t have a will.
Under Oklahoma intestacy rules:
- A spouse may share your estate with children, parents, or siblings depending on your family structure
- Children inherit equal shares, regardless of your personal relationships
- Unmarried partners, stepchildren, and close friends receive nothing
- The court appoints someone to administer your estate, which may not be the person you would have chosen
Why a Will Matters (Even If You Don’t Own Tons)
1. You Probably Own More Than You Think
Most people underestimate the value of their estate. Even if you don’t own real estate, you may have:
- A vehicle
- Bank accounts
- Personal belongings
- Digital assets
- Life insurance
- Employer benefits
- Family heirlooms
- Sentimental items
The will makes sure these things go to who you want them to, rather than default rules that may not reflect your wishes.
2. A Will Simplifies the Probate Process
Having a will makes probate much simpler. It tells the court what you want, and streamlines how things work. Your personal representative can follow the instructions you leave behind.
3. You Control Who Handles Your Affairs
You want to know who will be in charge after you go. Without a will, the court picks that person.
4. You Can Protect Minor Children
If you have young children, or a child with special needs, you want to pick the person who cares for them. Otherwise, the court will have to make that choice, and that may not fit with who you would pick.
5. You Can Leave Clear Instructions for Personal Items
Many of your items carry important emotional value. A will lets you direct where they go and who gets them.
6. You Can Provide for Loved Ones Who Would Otherwise Receive Nothing
Oklahoma intestacy laws do not recognize:
- Unmarried partners
- Stepchildren
- Close friends
- Charities
- Pets
A will allows you to include the people and causes that matter most to you.
When a Will Is Especially Important
You should strongly consider creating a will if any of the following apply:
- You have minor children
- You are in a blended family
- You want to leave property to someone outside your immediate family
- You have a partner but are not legally married
- You want to avoid family conflict
- You want to choose your executor
- You have digital assets or online accounts that need to be managed
Get Your Will Together Today
If you feel like you don’t own much, a will is still the right way to go. Even small estates benefit from a will, even a simple one. An attorney can craft the will and estate plan that best fits your situation.
Let the experienced lawyers at Brune Law Firm work with you to create a customized plan for your assets. Contact us today for a consultation.