Creating a will to protect your assets is a great idea. It sets out who you want to inherit your assets and dictates many other aspects of the end of your life. The thing is, you have to properly draft and execute a will under Oklahoma law, or it could be completely ineffective. When this happens, your assets could be distributed under the intestacy statute as if you never drafted a will. This rarely results in the distributions you actually want.
The experienced estate planning lawyers at Brune Law Firm can help you draft a valid will. Protect the assets you have spent a lifetime earning and ensure they go where you want them to. We are ready to help.
Legal Requirements for a Valid Will in Oklahoma
Under Oklahoma law, a will must comply with several requirements. These include:
1. Legal Age and Mental Capacity
The person who creates the will must be:
- At least 18 years old
- Of sound mind, meaning they know what they are doing, why they are doing it, and can make important decisions for themselves without fraud or duress
2. In Writing
Oklahoma recognizes two types of wills:
- Attested Wills: These are typed or printed wills, often more formal in nature. Your attorney can help you draft an attested will, which is much more likely to be enforceable and without errors.
- Holographic Wills: This is entirely handwritten and done by the person making the will. It requires no witnesses, but must still have specific language and other key requirements. Too often, people assume their handwritten will is enforceable, and it is not.
3. Signature Requirements
The will must be signed by the person making the will. If they are physically unable to sign, another person may sign on their behalf at their direction and in their presence. These situations, however, can be fraught with concerns and should be done with the advice and presence of an attorney.
4. Witness Requirements
An attested will must be:
- Signed by at least two witnesses
- Witnesses must be competent adults
- The witnesses can’t be beneficiaries under the will
- Witnesses must sign the will in the testator’s presence
- Witnesses must sign in each other’s presence as well
What Cannot Be Accomplished by a Will
The following assets usually pass outside of a will:
- Jointly owned property with rights of survivorship
- Life insurance policies with named beneficiaries
- Retirement accounts (e.g., IRAs, 401(k)s) with designated beneficiaries
- Payable-on-death (POD) or transfer-on-death (TOD) accounts
A comprehensive estate plan, which can include your will, helps ensure all of your assets transfer as you want them to.
Common Mistakes That Invalidate Oklahoma Wills
Avoid these problems to help ensure your will is valid in Oklahoma:
- Lack of Witnesses: If your will requires witnesses, ensure that it has the correct signatures.
- Ambiguous Language: If your will is vague or contradictory, it could be invalid.
- Improper Execution: You have to comply with all of the rules for creating the will, not just some of them.
- Outdated Documents: Big life changes could mean you need to update your will.
Am I Allowed to Write My Own Will in Oklahoma?
Yes, Oklahoma allows you to put together a will yourself. That carries many risks, however. A handwritten or holographic will still has specific requirements you must follow. You may also not know what legal language will accomplish what you actually want.
Too many people now rely on internet-based services for drafts of wills. Unfortunately, these documents are often created by non-lawyers and those without specific knowledge of Oklahoma law. You may also execute it incorrectly.
Schedule a Meeting With an Oklahoma Will Attorney
Making a will is highly important. Doing it correctly is even more critical. Too many people rely on an internet-drafted will, and it is their beneficiaries who learn too late that the will was never effective. An Oklahoma estate planning lawyer knows how to do it correctly to protect you and your loved ones.
Let the experienced lawyers at Brune Law Firm work with you to create a customized will that fits your needs. Contact us today for a consultation.