Probate and Trust Administration

Skilled Counsel When Probating An Estate In Oklahoma

Probate is a crucial legal process that involves administering the assets and estate of a deceased individual, resolving claims, and distributing property according to the will. Even when beneficiaries are amicable, the probate process can be intricate. However, it becomes highly complex and contentious if disputes arise regarding the will's validity or the appointment of an executor or personal representative.

At Lai & Turner Law Firm in Oklahoma City, we are committed to helping you avoid delays and conflicts by providing the essential information and education needed to protect and assert your interests..

Trust Administration Is Complicated And Demanding

"No good deed goes unpunished." Serving as a trustee is both an honor and a responsibility, reflecting the trust and faith a deceased friend or family member placed in you. However, being a trustee can be a thankless and risky role. Trustees bear fiduciary duties that can lead to personal liability if they fail to comply with the intricate requirements of the trust or Oklahoma law.

Fortunately, most trusts allow trustees to use trust assets to hire legal counsel for assistance in managing their duties. At Lai & Turner Law Firm, we have extensive experience helping trustees navigate the complexities of trust administration, reducing the stress that often accompanies this significant responsibility.

We can assist trustees in the following areas:

Understanding the trustee’s fiduciary duties
Providing notice and information to beneficiaries
Addressing complaints and second-guessing by beneficiaries
Preparing inventories and accounting of trust assets
Interpreting trust provisions regarding distribution criteria
Paying creditor claims
Managing trust assets to balance income and liquidity
Asserting claims on behalf of the trust against third parties
Defending against claims by disgruntled beneficiaries
Dealing with state and federal agencies
Managing family businesses owned by the trust

Streamlining the Probate Process with Lai & Turner Law Firm in Oklahoma

After the death of a loved one, families often seek to expedite the probate process. However, emotional tensions, family disputes, and the absence of a valid will or estate plan can cause significant delays and conflicts.

Once the will is validated and assets are identified, the executor or personal representative is responsible for administering the estate according to the will. This process can be highly involved, depending on the size and complexity of the estate.

Lai & Turner Law Firm in Oklahoma City is here to help you navigate all aspects of probating an estate:

- Gathering and Protecting Estate Assets: Executors need guidance on how to effectively gather and safeguard estate assets.

- Preparing Inventories and Accounting: Personal representatives will need assistance preparing proper inventories and accounting for assets

- Distributing Assets: Executors must distribute assets while managing creditors' claims.

- Notifying Creditors: Creditors must be informed about deadlines for submitting claims.

- Asserting Claims: The estate may need to pursue claims against third parties to collect debts or assert claims for damages.

- Real Estate Appraisal and Sale: Real estate might need appraisal and sale to cover debts.

- Tax Considerations: Addressing estate, gift, and inheritance taxes is essential.

- Transferring Assets to Beneficiaries: Ensuring smooth transfer of assets to beneficiaries.

Trust Lai & Turner Law Firm to provide guidance and support throughout the probate process, ensuring that your interests are protected every step of the way.

Hiring A Lai & Turner Criminal Defense Attorney

Protect Family Bonds During Probate And Trust Administration By Working Alongside A Skilled Lawyer

Trusted Estate and Probate Legal Services in Central Oklahoma

With extensive experience in handling estate and probate matters, we at Lai & Turner Law Firm understand the sensitivity required when working with families during challenging times. To learn more about how our attorneys can assist with probate and trust administration, contact our Oklahoma City office at 405-251-6572 or complete our online contact form. We proudly serve Central Oklahoma, including Oklahoma County, Cleveland County, Canadian County, Logan County, and surrounding areas.