Funding your trust is one of the most important—and most often overlooked—steps in estate planning. For Tulsa families, a trust that isn’t properly funded can still lead to probate, delays, and unnecessary court involvement. This blog explains what trust funding means, which assets typically need to be transferred, and why beneficiary designations matter. It also highlights how the Tulsa estate planning team at Morris Ratcliff Law helps clients ensure their trusts actually work as intended.
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Why Tulsa Families Should Update Their Estate Plan Regularly
Life Events That Require an Update Births, deaths, marriages, or divorces Changes in financial situation or property ownershipRegular updates ensure your estate plan reflects your family's current needs. Changes in Oklahoma Estate Laws Oklahoma law occasionally changes regarding w...
What Tulsa Families Should Know About Powers of Attorney
What is a Power of Attorney? A power of attorney (POA) grants another person authority to make decisions on your behalf. In Oklahoma, you can create a financial POA for money matters and appoint a healthcare agent for healthcare decisions. Why Tulsa Families Need a POA Without a POA, family me...
Do Tulsa Parents Need a Special Needs Trust?
What is a Special Needs Trust? A special needs trust is a legal arrangement that provides for a child with disabilities without affecting government benefits like Supplemental Security Income or Medicaid. Oklahoma families use these trusts to ensure long-term security for their children. When T...
Trust vs Will in Tulsa: What Families Need to Know
Understanding Wills in Tulsa A will is a legal document outlining how your assets are distributed after death. In Oklahoma, a properly executed will helps avoid disputes and ensures your wishes are honored. Wills go through probate, which can take time and court fees. Understanding Trusts in Tu...
How Much does a Will Cost in Tulsa?
Why Every Tulsa Family Needs a Will Every Tulsa family should have a will. Oklahoma law requires a valid will to distribute your estate, name guardians for minor children, and avoid unnecessary probate delays. Without a will, the state decides how your assets are divided — often contrary to your...
What is an estate plan?
When people hear “estate plan,” they often think it's something only the wealthy need. But here's the truth: if you own anything—a home, a bank account, a car, or even family heirlooms—you already have an estate. The real question is: who will make decisions and receive those things when you can'...
What is Probate in Oklahoma?
TRANSCRIPT: [Music] Have you ever heard the word probate and wondered what it means? Most families don't think about it until they're in the middle of it. And by then, it is stressful, time consuming, and expensive. When someone passes away without proper planning, their assets don't pas...
Do Your Parents Have an Estate Plan?
If you are part of the sandwich generation—caring for both your children and your parents at the same time—it is crucial that you know whether or not your parents have an existing estate plan. While the final decisions within their estate plan rest with them, creating a comprehensive estate plan ...